CHMG FY 2020 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2020 Earnings

Reported March 24, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$87M	—	$86M	—	0.7%
Op. Income	$24M	—	$19M	—	25.3%
Gross Margin	90.5%	—	85.8%	—	4.8pp
Net Margin	22.2%	—	18.1%	—	4.1pp
EPS (Diluted)	$4.01	—	$3.21	—	24.9%
Free Cash Flow	$28M	—	$26M	—	8.9%

Revenue Flow

Item	Amount
REVENUE	$87M
Cost of Revenue	$8M
GROSS PROFIT	$79M
R&D Expenses	$0
Selling & Marketing	$631.0K
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$23M
Operating Expenses	$55M
Cost & Expenses	$63M
OPERATING INCOME	$24M
Interest Income	$67M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$5M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$87M
Cost of Revenue	$8M
GROSS PROFIT	$79M
R&D Expenses	$0
Selling & Marketing	$631.0K
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$23M
Operating Expenses	$55M
Cost & Expenses	$63M
OPERATING INCOME	$24M
Interest Income	$67M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$5M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$4M
Stock-Based Compensation	$773.0K
Deferred Income Tax	-$86.0K
Other Non-Cash Items	$6M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$29M
Capital Expenditure	-$867.0K
Acquisitions (Net)	$0
Purchases of Investments	-$331M
Sales/Maturities of Investments	$70M
Other Investing Activities	-$234M
NET CASH FROM INVESTING	-$496M
Net Debt Issuance	-$236.0K
Common Stock Repurchased	-$8M
Common Dividends Paid	-$5M
Other Financing Activities	$466M
NET CASH FROM FINANCING	$454M
FREE CASH FLOW	$28M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$109M
Short-Term Investments	$555M
Net Receivables	$40M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$706M
PP&E (Net)	$27M
Goodwill	$22M
Intangible Assets	$258.0K
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$6M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$2.3B
Account Payables	$30M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.0B
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$41M
TOTAL LIABILITIES	$2.1B
Common Stock	$53.0K
Additional Paid-In Capital	$47M
Retained Earnings	$168M
Treasury Stock	-$18M
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$200M
Minority Interest	$0
TOTAL EQUITY	$200M
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$11M
Net Debt	-$97M