CZNC FY 2021 Earnings Report — Citizens & Northern Corporation Revenue & Financial Results | Market Cap Arena

Citizens & Northern CorporationCZNC

FY 2021 Earnings

Reported February 22, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$109M	—	$100M	—	8.5%
Op. Income	$38M	—	$23M	—	62.4%
Gross Margin	90.6%	—	86.6%	—	4.1pp
Net Margin	28.0%	—	19.1%	—	8.9pp
EPS (Diluted)	$1.92	—	$1.29	—	48.8%
Free Cash Flow	$33M	—	$22M	—	52.4%

Revenue Flow

Item	Amount
REVENUE	$109M
Cost of Revenue	$10M
GROSS PROFIT	$99M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$38M
SG&A Expenses	$38M
Other Expenses	$23M
Operating Expenses	$61M
Cost & Expenses	$71M
OPERATING INCOME	$38M
Interest Income	$85M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$38M
Income Tax Expense	$7M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$2M
EBIT	$38M
EBITDA	$40M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$109M
Cost of Revenue	$10M
GROSS PROFIT	$99M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$38M
SG&A Expenses	$38M
Other Expenses	$23M
Operating Expenses	$61M
Cost & Expenses	$71M
OPERATING INCOME	$38M
Interest Income	$85M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$38M
Income Tax Expense	$7M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$2M
EBIT	$38M
EBITDA	$40M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$31M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	-$1M
Other Non-Cash Items	$2M
Change in Working Capital	-$109.0K
OPERATING CASH FLOW	$35M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$244M
Sales/Maturities of Investments	$64M
Other Investing Activities	$78M
NET CASH FROM INVESTING	-$104M
Net Debt Issuance	-$13M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$16M
Other Financing Activities	$105M
NET CASH FROM FINANCING	$69M
FREE CASH FLOW	$33M
Net Change in Cash	-$169.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$105M
Short-Term Investments	$518M
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$630M
PP&E (Net)	$21M
Goodwill	$53M
Intangible Assets	$3M
Long-Term Investments	$1.6B
Tax Assets	$6M
Other Non-Current Assets	$64M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.3B
Account Payables	$24M
Short-Term Debt	$2M
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$76M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$76M
TOTAL LIABILITIES	$2.0B
Common Stock	$16M
Additional Paid-In Capital	$144M
Retained Earnings	$143M
Treasury Stock	-$7M
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$301M
Minority Interest	$0
TOTAL EQUITY	$301M
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$78M
Net Debt	-$27M