CNOB FY 2018 Earnings Report — ConnectOne Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

ConnectOne Bancorp, Inc.CNOB

FY 2018 Earnings

Reported February 27, 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	$222M	—	$190M	—	16.9%
Op. Income	$71M	—	$69M	—	3.8%
Gross Margin	63.9%	—	77.7%	—	-13.8pp
Net Margin	27.2%	—	22.8%	—	4.4pp
EPS (Diluted)	$1.87	—	$1.34	—	39.6%
Free Cash Flow	$87M	—	$128M	—	-32.3%

Revenue Flow

Item	Amount
REVENUE	$222M
Cost of Revenue	$80M
GROSS PROFIT	$142M
R&D Expenses	$0
Selling & Marketing	$980.0K
General & Administrative	$47M
SG&A Expenses	$48M
Other Expenses	$22M
Operating Expenses	$70M
Cost & Expenses	$150M
OPERATING INCOME	$71M
Interest Income	$214M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$71M
Income Tax Expense	$11M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$4M
EBIT	$71M
EBITDA	$75M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$222M
Cost of Revenue	$80M
GROSS PROFIT	$142M
R&D Expenses	$0
Selling & Marketing	$980.0K
General & Administrative	$47M
SG&A Expenses	$48M
Other Expenses	$22M
Operating Expenses	$70M
Cost & Expenses	$150M
OPERATING INCOME	$71M
Interest Income	$214M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$71M
Income Tax Expense	$11M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$4M
EBIT	$71M
EBITDA	$75M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$60M
Depreciation & Amortization	$4M
Stock-Based Compensation	$2M
Deferred Income Tax	$926.0K
Other Non-Cash Items	$21M
Change in Working Capital	$1M
OPERATING CASH FLOW	$89M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$140M
Sales/Maturities of Investments	$142M
Other Investing Activities	-$357M
NET CASH FROM INVESTING	-$357M
Net Debt Issuance	$4M
Common Stock Repurchased	-$819.0K
Common Dividends Paid	-$10M
Other Financing Activities	$298M
NET CASH FROM FINANCING	$291M
FREE CASH FLOW	$87M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$172M
Short-Term Investments	$412M
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$603M
PP&E (Net)	$19M
Goodwill	$146M
Intangible Assets	$2M
Long-Term Investments	$4.5B
Tax Assets	$0
Other Non-Current Assets	$175M
TOTAL NON-CURRENT ASSETS	$4.9B
TOTAL ASSETS	$5.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.1B
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$729M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$28M
TOTAL NON-CURRENT LIABILITIES	$756M
TOTAL LIABILITIES	$4.8B
Common Stock	$413M
Additional Paid-In Capital	$16M
Retained Earnings	$211M
Treasury Stock	-$17M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$614M
Minority Interest	$0
TOTAL EQUITY	$614M
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$729M
Net Debt	$556M