CHMG FY 2018 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2018 Earnings

Reported March 13, 2019

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	$87M	—	$80M	—	8.7%
Op. Income	$24M	—	$15M	—	60.9%
Gross Margin	91.7%	—	84.9%	—	6.8pp
Net Margin	22.6%	—	9.3%	—	13.3pp
EPS (Diluted)	$4.06	—	$2.16	—	88.0%
Free Cash Flow	$26M	—	$22M	—	17.3%

Revenue Flow

Item	Amount
REVENUE	$87M
Cost of Revenue	$7M
GROSS PROFIT	$80M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$29M
SG&A Expenses	$30M
Other Expenses	$26M
Operating Expenses	$56M
Cost & Expenses	$63M
OPERATING INCOME	$24M
Interest Income	$65M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$4M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$87M
Cost of Revenue	$7M
GROSS PROFIT	$80M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$29M
SG&A Expenses	$30M
Other Expenses	$26M
Operating Expenses	$56M
Cost & Expenses	$63M
OPERATING INCOME	$24M
Interest Income	$65M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$4M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$4M
Stock-Based Compensation	$494.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$5M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$28M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$18M
Sales/Maturities of Investments	$65M
Other Investing Activities	-$1M
NET CASH FROM INVESTING	$44M
Net Debt Issuance	-$60M
Common Stock Repurchased	$0
Common Dividends Paid	-$5M
Other Financing Activities	$92M
NET CASH FROM FINANCING	$28M
FREE CASH FLOW	$26M
Net Change in Cash	$99M

Balance Sheet

Item	Amount
Cash & Equivalents	$130M
Short-Term Investments	$242M
Net Receivables	$29M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$404M
PP&E (Net)	$25M
Goodwill	$22M
Intangible Assets	$1M
Long-Term Investments	$1.3B
Tax Assets	$0
Other Non-Current Assets	$6M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.8B
Account Payables	$16M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.6B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$20M
TOTAL LIABILITIES	$1.6B
Common Stock	$53.0K
Additional Paid-In Capital	$46M
Retained Earnings	$143M
Treasury Stock	-$13M
Accum. Other Comp. Income	-$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$165M
Minority Interest	$0
TOTAL EQUITY	$165M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$4M
Net Debt	-$126M