CARE FY 2012 Earnings Report — Carter Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

Carter Bankshares, Inc.CARE

FY 2012 Earnings

Reported December 30, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$168M	—	$165M	—	2.2%
Op. Income	$41M	—	$38M	—	7.4%
Gross Margin	65.0%	—	64.5%	—	0.5pp
Net Margin	18.0%	—	18.3%	—	-0.2pp
EPS (Diluted)	$1.16	—	$1.15	—	0.9%
Free Cash Flow	$45M	—	$35M	—	26.3%

Revenue Flow

Item	Amount
REVENUE	$168M
Cost of Revenue	$59M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$42M
SG&A Expenses	$42M
Other Expenses	$26M
Operating Expenses	$68M
Cost & Expenses	$127M
OPERATING INCOME	$41M
Interest Income	$157M
Interest Expense	$56M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$11M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$11M
EBIT	$41M
EBITDA	$52M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$168M
Cost of Revenue	$59M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$42M
SG&A Expenses	$42M
Other Expenses	$26M
Operating Expenses	$68M
Cost & Expenses	$127M
OPERATING INCOME	$41M
Interest Income	$157M
Interest Expense	$56M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$11M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$11M
EBIT	$41M
EBITDA	$52M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$11M
Stock-Based Compensation	$0
Deferred Income Tax	-$1M
Other Non-Cash Items	$2M
Change in Working Capital	$2M
OPERATING CASH FLOW	$45M
Capital Expenditure	-$48.0K
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$384M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$617M
Net Debt Issuance	-$38.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	$451M
NET CASH FROM FINANCING	$440M
FREE CASH FLOW	$45M
Net Change in Cash	-$132M

Balance Sheet

Item	Amount
Cash & Equivalents	$509M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$509M
PP&E (Net)	$106M
Goodwill	$60M
Intangible Assets	$17M
Long-Term Investments	$3.7B
Tax Assets	$0
Other Non-Current Assets	$94M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$4.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.1B
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$4.1B
Common Stock	$26M
Additional Paid-In Capital	$0
Retained Earnings	$333M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$359M
Minority Interest	$0
TOTAL EQUITY	$359M
TOTAL LIABILITIES & EQUITY	$4.4B
Total Debt	$0
Net Debt	-$509M