CHMG FY 2009 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2009 Earnings

Reported March 15, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$62M	—	$63M	—	-1.5%
Op. Income	$7M	—	$12M	—	-42.7%
Gross Margin	77.9%	—	74.4%	—	3.5pp
Net Margin	8.4%	—	13.2%	—	-4.8pp
EPS (Diluted)	$1.45	—	$2.32	—	-37.5%
Free Cash Flow	$7M	—	$14M	—	-51.6%

Revenue Flow

Item	Amount
REVENUE	$62M
Cost of Revenue	$14M
GROSS PROFIT	$49M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$16M
Operating Expenses	$42M
Cost & Expenses	$55M
OPERATING INCOME	$7M
Interest Income	$44M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$7M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$4M
EBIT	$7M
EBITDA	$11M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$62M
Cost of Revenue	$14M
GROSS PROFIT	$49M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$16M
Operating Expenses	$42M
Cost & Expenses	$55M
OPERATING INCOME	$7M
Interest Income	$44M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$7M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$4M
EBIT	$7M
EBITDA	$11M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$5M
Depreciation & Amortization	$4M
Stock-Based Compensation	$0
Deferred Income Tax	-$2M
Other Non-Cash Items	$6M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$9M
Capital Expenditure	-$2M
Acquisitions (Net)	$3M
Purchases of Investments	-$174M
Sales/Maturities of Investments	$136M
Other Investing Activities	$25M
NET CASH FROM INVESTING	-$11M
Net Debt Issuance	$0
Common Stock Repurchased	-$156.1K
Common Dividends Paid	-$4M
Other Financing Activities	$62M
NET CASH FROM FINANCING	$59M
FREE CASH FLOW	$7M
Net Change in Cash	$56M

Balance Sheet

Item	Amount
Cash & Equivalents	$80M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$80M
PP&E (Net)	$25M
Goodwill	$10M
Intangible Assets	$5M
Long-Term Investments	$829M
Tax Assets	$0
Other Non-Current Assets	$26M
TOTAL NON-CURRENT ASSETS	$896M
TOTAL ASSETS	$976M
Account Payables	$1M
Short-Term Debt	$54M
Deferred Revenue	$0
Other Current Liabilities	$801M
TOTAL CURRENT LIABILITIES	$857M
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$28M
TOTAL LIABILITIES	$886M
Common Stock	$43.0K
Additional Paid-In Capital	$23M
Retained Earnings	$88M
Treasury Stock	-$20M
Accum. Other Comp. Income	-$566.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$90M
Minority Interest	$0
TOTAL EQUITY	$90M
TOTAL LIABILITIES & EQUITY	$976M
Total Debt	$74M
Net Debt	-$5M