CZNC FY 2011 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2011 Earnings

Reported February 24, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$77M	—	$77M	—	0.7%
Op. Income	$32M	—	$25M	—	29.1%
Gross Margin	82.8%	—	73.4%	—	9.4pp
Net Margin	30.2%	—	24.8%	—	5.4pp
EPS (Diluted)	$1.92	—	$1.45	—	32.4%
Free Cash Flow	$36M	—	$34M	—	6.2%

Revenue Flow

Item	Amount
REVENUE	$77M
Cost of Revenue	$13M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$20M
SG&A Expenses	$20M
Other Expenses	$12M
Operating Expenses	$32M
Cost & Expenses	$45M
OPERATING INCOME	$32M
Interest Income	$61M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$9M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$2M
EBIT	$32M
EBITDA	$34M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$77M
Cost of Revenue	$13M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$20M
SG&A Expenses	$20M
Other Expenses	$12M
Operating Expenses	$32M
Cost & Expenses	$45M
OPERATING INCOME	$32M
Interest Income	$61M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$9M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$2M
EBIT	$32M
EBITDA	$34M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$2M
Stock-Based Compensation	$423.0K
Deferred Income Tax	$4M
Other Non-Cash Items	$3M
Change in Working Capital	$4M
OPERATING CASH FLOW	$37M
Capital Expenditure	-$998.0K
Acquisitions (Net)	$116.0K
Purchases of Investments	-$152M
Sales/Maturities of Investments	$134M
Other Investing Activities	$23M
NET CASH FROM INVESTING	$3M
Net Debt Issuance	-$37M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$6M
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$30M
FREE CASH FLOW	$36M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$61M
Short-Term Investments	$482M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$547M
PP&E (Net)	$19M
Goodwill	$12M
Intangible Assets	$212.0K
Long-Term Investments	$702M
Tax Assets	$6M
Other Non-Current Assets	$38M
TOTAL NON-CURRENT ASSETS	$777M
TOTAL ASSETS	$1.3B
Account Payables	$8M
Short-Term Debt	$95M
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$40M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$13M
TOTAL NON-CURRENT LIABILITIES	$28M
TOTAL LIABILITIES	$1.2B
Common Stock	$12M
Additional Paid-In Capital	$68M
Retained Earnings	$82M
Treasury Stock	-$5M
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$167M
Minority Interest	$0
TOTAL EQUITY	$167M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$135M
Net Debt	$75M