CARE FY 2010 Earnings Report — Carter Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

Carter Bankshares, Inc.CARE

FY 2010 Earnings

Reported December 31, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$166M	—	$158M	—	4.9%
Op. Income	$27M	—	$18M	—	49.4%
Gross Margin	58.5%	—	—	—	—
Net Margin	13.7%	—	11.2%	—	2.5pp
EPS (Diluted)	$0.87	—	$0.68	—	27.9%
Free Cash Flow	$42M	—	$4M	—	881.4%

Revenue Flow

Item	Amount
REVENUE	$166M
Cost of Revenue	$69M
GROSS PROFIT	$97M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$46M
SG&A Expenses	$46M
Other Expenses	$24M
Operating Expenses	$70M
Cost & Expenses	$139M
OPERATING INCOME	$27M
Interest Income	$156M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$4M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$11M
EBIT	$27M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$166M
Cost of Revenue	$69M
GROSS PROFIT	$97M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$46M
SG&A Expenses	$46M
Other Expenses	$24M
Operating Expenses	$70M
Cost & Expenses	$139M
OPERATING INCOME	$27M
Interest Income	$156M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$4M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$11M
EBIT	$27M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$11M
Stock-Based Compensation	$0
Deferred Income Tax	-$218.0K
Other Non-Cash Items	$2M
Change in Working Capital	$9M
OPERATING CASH FLOW	$44M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$858M
Sales/Maturities of Investments	$835M
Other Investing Activities	-$36M
NET CASH FROM INVESTING	-$61M
Net Debt Issuance	-$202.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	$302M
NET CASH FROM FINANCING	$291M
FREE CASH FLOW	$42M
Net Change in Cash	$275M

Balance Sheet

Item	Amount
Cash & Equivalents	$0
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$579M
TOTAL CURRENT ASSETS	$579M
PP&E (Net)	$112M
Goodwill	$60M
Intangible Assets	$32M
Long-Term Investments	$1M
Tax Assets	$0
Other Non-Current Assets	$2.9B
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$3.7B
Account Payables	$0
Short-Term Debt	$2M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.2B
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$3.4B
Common Stock	$26M
Additional Paid-In Capital	$142M
Retained Earnings	$157M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$326M
Minority Interest	$0
TOTAL EQUITY	$326M
TOTAL LIABILITIES & EQUITY	$3.7B
Total Debt	$2M
Net Debt	$2M