CHMG FY 2012 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2012 Earnings

Reported March 15, 2013

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	$68M	—	$68M	—	1.3%
Op. Income	$16M	—	$16M	—	5.4%
Gross Margin	91.1%	—	88.6%	—	2.5pp
Net Margin	16.1%	—	15.6%	—	0.5pp
EPS (Diluted)	$2.38	—	$2.40	—	-0.8%
Free Cash Flow	$21M	—	$7M	—	217.0%

Revenue Flow

Item	Amount
REVENUE	$68M
Cost of Revenue	$6M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$25M
SG&A Expenses	$26M
Other Expenses	$20M
Operating Expenses	$46M
Cost & Expenses	$52M
OPERATING INCOME	$16M
Interest Income	$52M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$5M
Net Income from Continuing Ops	$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$4M
EBIT	$16M
EBITDA	$20M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$68M
Cost of Revenue	$6M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$25M
SG&A Expenses	$26M
Other Expenses	$20M
Operating Expenses	$46M
Cost & Expenses	$52M
OPERATING INCOME	$16M
Interest Income	$52M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$5M
Net Income from Continuing Ops	$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$4M
EBIT	$16M
EBITDA	$20M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$11M
Depreciation & Amortization	$4M
Stock-Based Compensation	$160.0K
Deferred Income Tax	$647.0K
Other Non-Cash Items	$2M
Change in Working Capital	$7M
OPERATING CASH FLOW	$25M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$82M
Sales/Maturities of Investments	$125M
Other Investing Activities	-$96M
NET CASH FROM INVESTING	-$57M
Net Debt Issuance	-$16M
Common Stock Repurchased	-$636.0K
Common Dividends Paid	-$6M
Other Financing Activities	$42M
NET CASH FROM FINANCING	$20M
FREE CASH FLOW	$21M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$40M
Short-Term Investments	$240M
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$298M
PP&E (Net)	$25M
Goodwill	$22M
Intangible Assets	$5M
Long-Term Investments	$890M
Tax Assets	$0
Other Non-Current Assets	$8M
TOTAL NON-CURRENT ASSETS	$950M
TOTAL ASSETS	$1.2B
Account Payables	$12M
Short-Term Debt	$33M
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$27M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$40M
TOTAL LIABILITIES	$1.1B
Common Stock	$53.0K
Additional Paid-In Capital	$45M
Retained Earnings	$107M
Treasury Stock	-$19M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$131M
Minority Interest	$0
TOTAL EQUITY	$131M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$60M
Net Debt	$20M