CNOB FY 2020 Earnings Report — ConnectOne Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

ConnectOne Bancorp, Inc.CNOB

FY 2020 Earnings

Reported March 1, 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	$323M	—	$280M	—	15.4%
Op. Income	$90M	—	$94M	—	-3.9%
Gross Margin	65.5%	—	66.6%	—	-1.1pp
Net Margin	22.1%	—	26.3%	—	-4.2pp
EPS (Diluted)	$1.79	—	$2.07	—	-13.5%
Free Cash Flow	$79M	—	$59M	—	33.4%

Revenue Flow

Item	Amount
REVENUE	$323M
Cost of Revenue	$111M
GROSS PROFIT	$211M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$69M
SG&A Expenses	$70M
Other Expenses	$51M
Operating Expenses	$121M
Cost & Expenses	$232M
OPERATING INCOME	$90M
Interest Income	$307M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$19M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$71M
D&A	$7M
EBIT	$90M
EBITDA	$97M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$323M
Cost of Revenue	$111M
GROSS PROFIT	$211M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$69M
SG&A Expenses	$70M
Other Expenses	$51M
Operating Expenses	$121M
Cost & Expenses	$232M
OPERATING INCOME	$90M
Interest Income	$307M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$19M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$71M
D&A	$7M
EBIT	$90M
EBITDA	$97M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$71M
Depreciation & Amortization	$7M
Stock-Based Compensation	$3M
Deferred Income Tax	-$7M
Other Non-Cash Items	$46M
Change in Working Capital	-$38M
OPERATING CASH FLOW	$81M
Capital Expenditure	-$2M
Acquisitions (Net)	$87M
Purchases of Investments	-$340M
Sales/Maturities of Investments	$276M
Other Investing Activities	-$345M
NET CASH FROM INVESTING	-$323M
Net Debt Issuance	-$50M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$14M
Other Financing Activities	$411M
NET CASH FROM FINANCING	$345M
FREE CASH FLOW	$79M
Net Change in Cash	$102M

Balance Sheet

Item	Amount
Cash & Equivalents	$304M
Short-Term Investments	$488M
Net Receivables	$35M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$827M
PP&E (Net)	$46M
Goodwill	$208M
Intangible Assets	$11M
Long-Term Investments	$6.2B
Tax Assets	$0
Other Non-Current Assets	$280M
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$7.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$6.0B
TOTAL CURRENT LIABILITIES	$6.0B
Long-Term Debt	$629M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$26M
TOTAL NON-CURRENT LIABILITIES	$673M
TOTAL LIABILITIES	$6.6B
Common Stock	$587M
Additional Paid-In Capital	$24M
Retained Earnings	$332M
Treasury Stock	-$30M
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$915M
Minority Interest	$0
TOTAL EQUITY	$915M
TOTAL LIABILITIES & EQUITY	$7.5B
Total Debt	$647M
Net Debt	$343M