CNOB FY 2013 Earnings Report — ConnectOne Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

ConnectOne Bancorp, Inc.CNOB

FY 2013 Earnings

Reported March 5, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$64M	—	$62M	—	4.1%
Op. Income	$27M	—	$25M	—	8.8%
Gross Margin	82.2%	—	80.4%	—	1.8pp
Net Margin	31.1%	—	28.4%	—	2.6pp
EPS (Diluted)	$1.21	—	$1.05	—	15.2%
Free Cash Flow	$22M	—	$20M	—	9.7%

Revenue Flow

Item	Amount
REVENUE	$64M
Cost of Revenue	$11M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$304.0K
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$9M
Operating Expenses	$25M
Cost & Expenses	$37M
OPERATING INCOME	$27M
Interest Income	$57M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$7M
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	$886.0K
EBIT	$27M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$64M
Cost of Revenue	$11M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$304.0K
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$9M
Operating Expenses	$25M
Cost & Expenses	$37M
OPERATING INCOME	$27M
Interest Income	$57M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$7M
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	$886.0K
EBIT	$27M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$886.0K
Stock-Based Compensation	$59.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$2M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$23M
Capital Expenditure	-$973.0K
Acquisitions (Net)	$0
Purchases of Investments	-$179M
Sales/Maturities of Investments	$172M
Other Investing Activities	-$70M
NET CASH FROM INVESTING	-$78M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$35M
NET CASH FROM FINANCING	$31M
FREE CASH FLOW	$22M
Net Change in Cash	-$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$83M
Short-Term Investments	$323M
Net Receivables	$16M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$421M
PP&E (Net)	$14M
Goodwill	$17M
Intangible Assets	$24.0K
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.7B
Account Payables	$0
Short-Term Debt	$31M
Deferred Revenue	$0
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$120M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$131M
TOTAL LIABILITIES	$1.5B
Common Stock	$110M
Additional Paid-In Capital	$5M
Retained Earnings	$62M
Treasury Stock	-$17M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$169M
Minority Interest	$0
TOTAL EQUITY	$169M
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$151M
Net Debt	$68M