CZNC FY 2016 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2016 Earnings

Reported February 16, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$60M	—	$62M	—	-3.6%
Op. Income	$21M	—	$22M	—	-3.2%
Gross Margin	91.8%	—	91.2%	—	0.6pp
Net Margin	26.4%	—	26.6%	—	-0.2pp
EPS (Diluted)	$1.30	—	$1.35	—	-3.7%
Free Cash Flow	$17M	—	$19M	—	-9.2%

Revenue Flow

Item	Amount
REVENUE	$60M
Cost of Revenue	$5M
GROSS PROFIT	$55M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$12M
Operating Expenses	$34M
Cost & Expenses	$39M
OPERATING INCOME	$21M
Interest Income	$44M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$5M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$2M
EBIT	$21M
EBITDA	$23M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$60M
Cost of Revenue	$5M
GROSS PROFIT	$55M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$12M
Operating Expenses	$34M
Cost & Expenses	$39M
OPERATING INCOME	$21M
Interest Income	$44M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$5M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$2M
EBIT	$21M
EBITDA	$23M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$16M
Depreciation & Amortization	$2M
Stock-Based Compensation	$582.0K
Deferred Income Tax	-$156.0K
Other Non-Cash Items	$1M
Change in Working Capital	-$726.0K
OPERATING CASH FLOW	$19M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$92M
Sales/Maturities of Investments	$112M
Other Investing Activities	-$47M
NET CASH FROM INVESTING	-$29M
Net Debt Issuance	-$28M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$11M
Other Financing Activities	$48M
NET CASH FROM FINANCING	$6M
FREE CASH FLOW	$17M
Net Change in Cash	-$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$395M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$431M
PP&E (Net)	$15M
Goodwill	$12M
Intangible Assets	$17.0K
Long-Term Investments	$744M
Tax Assets	$5M
Other Non-Current Assets	$35M
TOTAL NON-CURRENT ASSETS	$811M
TOTAL ASSETS	$1.2B
Account Payables	$8M
Short-Term Debt	$53M
Deferred Revenue	$0
Other Current Liabilities	$984M
TOTAL CURRENT LIABILITIES	$1.0B
Long-Term Debt	$11M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$11M
TOTAL LIABILITIES	$1.1B
Common Stock	$13M
Additional Paid-In Capital	$72M
Retained Earnings	$113M
Treasury Stock	-$10M
Accum. Other Comp. Income	-$898.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$186M
Minority Interest	$0
TOTAL EQUITY	$186M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$65M
Net Debt	$33M