CNOB FY 2019 Earnings Report — ConnectOne Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

ConnectOne Bancorp, Inc.CNOB

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$280M	—	$222M	—	26.1%
Op. Income	$94M	—	$71M	—	32.2%
Gross Margin	66.6%	—	63.9%	—	2.7pp
Net Margin	26.3%	—	27.2%	—	-1.0pp
EPS (Diluted)	$2.07	—	$1.87	—	10.7%
Free Cash Flow	$59M	—	$87M	—	-32.0%

Revenue Flow

Item	Amount
REVENUE	$280M
Cost of Revenue	$93M
GROSS PROFIT	$186M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$56M
SG&A Expenses	$57M
Other Expenses	$35M
Operating Expenses	$92M
Cost & Expenses	$185M
OPERATING INCOME	$94M
Interest Income	$270M
Interest Expense	$85M
Other Income/Expenses	$0
INCOME BEFORE TAX	$94M
Income Tax Expense	$21M
Net Income from Continuing Ops	$73M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$73M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$4M
EBIT	$94M
EBITDA	$98M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$280M
Cost of Revenue	$93M
GROSS PROFIT	$186M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$56M
SG&A Expenses	$57M
Other Expenses	$35M
Operating Expenses	$92M
Cost & Expenses	$185M
OPERATING INCOME	$94M
Interest Income	$270M
Interest Expense	$85M
Other Income/Expenses	$0
INCOME BEFORE TAX	$94M
Income Tax Expense	$21M
Net Income from Continuing Ops	$73M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$73M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$4M
EBIT	$94M
EBITDA	$98M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$73M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	$104.0K
Other Non-Cash Items	$4M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$61M
Capital Expenditure	-$2M
Acquisitions (Net)	$11M
Purchases of Investments	-$226M
Sales/Maturities of Investments	$362M
Other Investing Activities	-$249M
NET CASH FROM INVESTING	-$102M
Net Debt Issuance	-$165M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$12M
Other Financing Activities	$261M
NET CASH FROM FINANCING	$71M
FREE CASH FLOW	$59M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$201M
Short-Term Investments	$405M
Net Receivables	$21M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$627M
PP&E (Net)	$34M
Goodwill	$163M
Intangible Assets	$5M
Long-Term Investments	$5.1B
Tax Assets	$0
Other Non-Current Assets	$225M
TOTAL NON-CURRENT ASSETS	$5.5B
TOTAL ASSETS	$6.2B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.8B
TOTAL CURRENT LIABILITIES	$4.8B
Long-Term Debt	$629M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$675M
TOTAL LIABILITIES	$5.4B
Common Stock	$469M
Additional Paid-In Capital	$21M
Retained Earnings	$272M
Treasury Stock	-$29M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$731M
Minority Interest	$0
TOTAL EQUITY	$731M
TOTAL LIABILITIES & EQUITY	$6.2B
Total Debt	$646M
Net Debt	$444M