CZNC FY 2020 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2020 Earnings

Reported March 5, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$100M	—	$83M	—	21.1%
Op. Income	$23M	—	$23M	—	-0.8%
Gross Margin	86.6%	—	86.6%	—	-0.0pp
Net Margin	19.1%	—	23.5%	—	-4.4pp
EPS (Diluted)	$1.29	—	$1.46	—	-11.6%
Free Cash Flow	$22M	—	$20M	—	10.5%

Revenue Flow

Item	Amount
REVENUE	$100M
Cost of Revenue	$14M
GROSS PROFIT	$87M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$33M
SG&A Expenses	$33M
Other Expenses	$31M
Operating Expenses	$64M
Cost & Expenses	$77M
OPERATING INCOME	$23M
Interest Income	$77M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$23M
EBITDA	$25M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$100M
Cost of Revenue	$14M
GROSS PROFIT	$87M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$33M
SG&A Expenses	$33M
Other Expenses	$31M
Operating Expenses	$64M
Cost & Expenses	$77M
OPERATING INCOME	$23M
Interest Income	$77M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$23M
EBITDA	$25M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	-$361.0K
Other Non-Cash Items	$3M
Change in Working Capital	-$111.0K
OPERATING CASH FLOW	$25M
Capital Expenditure	-$3M
Acquisitions (Net)	$76M
Purchases of Investments	-$105M
Sales/Maturities of Investments	$123M
Other Investing Activities	$6M
NET CASH FROM INVESTING	$97M
Net Debt Issuance	-$129M
Common Stock Repurchased	-$163.0K
Common Dividends Paid	-$14M
Other Financing Activities	$87M
NET CASH FROM FINANCING	-$56M
FREE CASH FLOW	$22M
Net Change in Cash	$65M

Balance Sheet

Item	Amount
Cash & Equivalents	$102M
Short-Term Investments	$349M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$459M
PP&E (Net)	$22M
Goodwill	$53M
Intangible Assets	$4M
Long-Term Investments	$1.6B
Tax Assets	$3M
Other Non-Current Assets	$66M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$2.2B
Account Payables	$28M
Short-Term Debt	$20M
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$71M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$71M
TOTAL LIABILITIES	$1.9B
Common Stock	$16M
Additional Paid-In Capital	$144M
Retained Earnings	$130M
Treasury Stock	-$1M
Accum. Other Comp. Income	$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$300M
Minority Interest	$0
TOTAL EQUITY	$300M
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$91M
Net Debt	-$11M