CZNC FY 2007 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2007 Earnings

Reported February 29, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$81M	—	$45M	—	80.3%
Op. Income	$13M	—	$15M	—	-11.5%
Gross Margin	57.4%	—	29.8%	—	27.6pp
Net Margin	12.9%	—	26.8%	—	-13.9pp
EPS (Diluted)	$1.19	—	$1.41	—	-15.6%
Free Cash Flow	$8M	—	$7M	—	13.8%

Revenue Flow

Item	Amount
REVENUE	$81M
Cost of Revenue	$34M
GROSS PROFIT	$46M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	$15M
Operating Expenses	$33M
Cost & Expenses	$68M
OPERATING INCOME	$13M
Interest Income	$70M
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$13M
Income Tax Expense	$3M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$3M
EBIT	$13M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$81M
Cost of Revenue	$34M
GROSS PROFIT	$46M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	$15M
Operating Expenses	$33M
Cost & Expenses	$68M
OPERATING INCOME	$13M
Interest Income	$70M
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$13M
Income Tax Expense	$3M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$3M
EBIT	$13M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$10M
Depreciation & Amortization	$3M
Stock-Based Compensation	$0
Deferred Income Tax	-$21.0K
Other Non-Cash Items	-$3M
Change in Working Capital	-$878.0K
OPERATING CASH FLOW	$10M
Capital Expenditure	-$2M
Acquisitions (Net)	$30M
Purchases of Investments	-$204M
Sales/Maturities of Investments	$141M
Other Investing Activities	$12M
NET CASH FROM INVESTING	-$23M
Net Debt Issuance	$48M
Common Stock Repurchased	$0
Common Dividends Paid	-$8M
Other Financing Activities	-$21M
NET CASH FROM FINANCING	$17M
FREE CASH FLOW	$8M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$0
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$37M
PP&E (Net)	$28M
Goodwill	$12M
Intangible Assets	$1M
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.3B
Account Payables	$5M
Short-Term Debt	$41M
Deferred Revenue	$0
Other Current Liabilities	$839M
TOTAL CURRENT LIABILITIES	$884M
Long-Term Debt	$259M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$259M
TOTAL LIABILITIES	$1.1B
Common Stock	$9M
Additional Paid-In Capital	$42M
Retained Earnings	$97M
Treasury Stock	-$5M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$138M
Minority Interest	$0
TOTAL EQUITY	$138M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$300M
Net Debt	$268M