CZNC FY 2017 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2017 Earnings

Reported February 15, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$61M	—	$60M	—	2.3%
Op. Income	$21M	—	$21M	—	-2.5%
Gross Margin	92.3%	—	91.8%	—	0.5pp
Net Margin	22.0%	—	26.4%	—	-4.4pp
EPS (Diluted)	$1.10	—	$1.30	—	-15.4%
Free Cash Flow	$18M	—	$17M	—	4.4%

Revenue Flow

Item	Amount
REVENUE	$61M
Cost of Revenue	$5M
GROSS PROFIT	$56M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$13M
Operating Expenses	$36M
Cost & Expenses	$40M
OPERATING INCOME	$21M
Interest Income	$46M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$21M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$61M
Cost of Revenue	$5M
GROSS PROFIT	$56M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$13M
Operating Expenses	$36M
Cost & Expenses	$40M
OPERATING INCOME	$21M
Interest Income	$46M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$21M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$2M
Stock-Based Compensation	$628.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$1M
Change in Working Capital	$506.0K
OPERATING CASH FLOW	$19M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$51M
Sales/Maturities of Investments	$88M
Other Investing Activities	-$66M
NET CASH FROM INVESTING	-$31M
Net Debt Issuance	$6M
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	$25M
NET CASH FROM FINANCING	$20M
FREE CASH FLOW	$18M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$40M
Short-Term Investments	$356M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$400M
PP&E (Net)	$15M
Goodwill	$12M
Intangible Assets	$12.0K
Long-Term Investments	$809M
Tax Assets	$3M
Other Non-Current Assets	$37M
TOTAL NON-CURRENT ASSETS	$877M
TOTAL ASSETS	$1.3B
Account Payables	$9M
Short-Term Debt	$62M
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$9M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$9M
TOTAL LIABILITIES	$1.1B
Common Stock	$13M
Additional Paid-In Capital	$72M
Retained Earnings	$114M
Treasury Stock	-$8M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$188M
Minority Interest	$0
TOTAL EQUITY	$188M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$71M
Net Debt	$31M