CARE FY 2018 Earnings Report — Carter Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

Carter Bankshares, Inc.CARE

FY 2018 Earnings

Reported December 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$158M	—	$144M	—	9.4%
Op. Income	$14M	—	-$18M	—	178.6%
Gross Margin	65.2%	—	44.4%	—	20.8pp
Net Margin	7.5%	—	-0.5%	—	8.0pp
EPS (Diluted)	$0.45	—	$-0.03	—	1600.0%
Free Cash Flow	$35M	—	$41M	—	-14.6%

Revenue Flow

Item	Amount
REVENUE	$158M
Cost of Revenue	$55M
GROSS PROFIT	$103M
R&D Expenses	$0
Selling & Marketing	$884.0K
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$31M
Operating Expenses	$89M
Cost & Expenses	$144M
OPERATING INCOME	$14M
Interest Income	$152M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$2M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$4M
EBIT	$14M
EBITDA	$18M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$158M
Cost of Revenue	$55M
GROSS PROFIT	$103M
R&D Expenses	$0
Selling & Marketing	$884.0K
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$31M
Operating Expenses	$89M
Cost & Expenses	$144M
OPERATING INCOME	$14M
Interest Income	$152M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$2M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$4M
EBIT	$14M
EBITDA	$18M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$12M
Depreciation & Amortization	$4M
Stock-Based Compensation	$9.0K
Deferred Income Tax	$9M
Other Non-Cash Items	$27M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$49M
Capital Expenditure	-$15M
Acquisitions (Net)	$0
Purchases of Investments	-$201M
Sales/Maturities of Investments	$352M
Other Investing Activities	-$82M
NET CASH FROM INVESTING	$54M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$78M
NET CASH FROM FINANCING	-$78M
FREE CASH FLOW	$35M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$294M
Short-Term Investments	$783M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$86M
Goodwill	$62M
Intangible Assets	$0
Long-Term Investments	$2.7B
Tax Assets	$0
Other Non-Current Assets	$148M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$4.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$12M
TOTAL LIABILITIES	$3.6B
Common Stock	$26M
Additional Paid-In Capital	$142M
Retained Earnings	$278M
Treasury Stock	$0
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$436M
Minority Interest	$0
TOTAL EQUITY	$436M
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$0
Net Debt	-$294M