COFS FY 2014 Earnings Report — ChoiceOne Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

ChoiceOne Financial Services, Inc.COFS

FY 2014 Earnings

Reported March 13, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$26M	—	$25M	—	2.2%
Op. Income	$8M	—	$7M	—	13.0%
Gross Margin	95.2%	—	93.2%	—	2.0pp
Net Margin	22.1%	—	20.2%	—	1.9pp
EPS (Diluted)	$1.56	—	$1.40	—	11.4%
Free Cash Flow	$7M	—	$10M	—	-30.1%

Revenue Flow

Item	Amount
REVENUE	$26M
Cost of Revenue	$1M
GROSS PROFIT	$25M
R&D Expenses	$0
Selling & Marketing	$275.0K
General & Administrative	$9M
SG&A Expenses	$9M
Other Expenses	$8M
Operating Expenses	$17M
Cost & Expenses	$18M
OPERATING INCOME	$8M
Interest Income	$19M
Interest Expense	$1M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$2M
EBIT	$8M
EBITDA	$10M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$26M
Cost of Revenue	$1M
GROSS PROFIT	$25M
R&D Expenses	$0
Selling & Marketing	$275.0K
General & Administrative	$9M
SG&A Expenses	$9M
Other Expenses	$8M
Operating Expenses	$17M
Cost & Expenses	$18M
OPERATING INCOME	$8M
Interest Income	$19M
Interest Expense	$1M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$2M
EBIT	$8M
EBITDA	$10M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$6M
Depreciation & Amortization	$2M
Stock-Based Compensation	$60.0K
Deferred Income Tax	-$460.0K
Other Non-Cash Items	-$906.0K
Change in Working Capital	$605.0K
OPERATING CASH FLOW	$7M
Capital Expenditure	-$786.0K
Acquisitions (Net)	$0
Purchases of Investments	-$42M
Sales/Maturities of Investments	$36M
Other Investing Activities	-$32M
NET CASH FROM INVESTING	-$39M
Net Debt Issuance	$12M
Common Stock Repurchased	-$203.0K
Common Dividends Paid	-$2M
Other Financing Activities	$18M
NET CASH FROM FINANCING	$27M
FREE CASH FLOW	$7M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$17M
Short-Term Investments	$143M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$159M
PP&E (Net)	$12M
Goodwill	$14M
Intangible Assets	$827.0K
Long-Term Investments	$344M
Tax Assets	$0
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$390M
TOTAL ASSETS	$550M
Account Payables	$0
Short-Term Debt	$27M
Deferred Revenue	$0
Other Current Liabilities	$435M
TOTAL CURRENT LIABILITIES	$462M
Long-Term Debt	$18M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$483M
Common Stock	$47M
Additional Paid-In Capital	$47M
Retained Earnings	$19M
Treasury Stock	$0
Accum. Other Comp. Income	-$45M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$66M
Minority Interest	$0
TOTAL EQUITY	$66M
TOTAL LIABILITIES & EQUITY	$550M
Total Debt	$45M
Net Debt	$28M