FBNC FY 2013 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2013 Earnings

Reported March 17, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$176M	—	$178M	—	-1.2%
Op. Income	$33M	—	-$40M	—	181.2%
Gross Margin	76.4%	—	45.6%	—	30.8pp
Net Margin	11.8%	—	-13.1%	—	24.9pp
EPS (Diluted)	$0.98	—	$-1.54	—	163.6%
Free Cash Flow	$66M	—	$33M	—	100.4%

Revenue Flow

Item	Amount
REVENUE	$176M
Cost of Revenue	$42M
GROSS PROFIT	$135M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$55M
SG&A Expenses	$55M
Other Expenses	$47M
Operating Expenses	$102M
Cost & Expenses	$143M
OPERATING INCOME	$33M
Interest Income	$148M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$12M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$5M
EBIT	$33M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$176M
Cost of Revenue	$42M
GROSS PROFIT	$135M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$55M
SG&A Expenses	$55M
Other Expenses	$47M
Operating Expenses	$102M
Cost & Expenses	$143M
OPERATING INCOME	$33M
Interest Income	$148M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$12M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$5M
EBIT	$33M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$21M
Depreciation & Amortization	$5M
Stock-Based Compensation	$222.0K
Deferred Income Tax	$0
Other Non-Cash Items	$19M
Change in Working Capital	$26M
OPERATING CASH FLOW	$72M
Capital Expenditure	-$6M
Acquisitions (Net)	$38M
Purchases of Investments	-$66M
Sales/Maturities of Investments	$54M
Other Investing Activities	$25M
NET CASH FROM INVESTING	$45M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	-$128M
NET CASH FROM FINANCING	-$135M
FREE CASH FLOW	$66M
Net Change in Cash	-$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$221M
Short-Term Investments	$173M
Net Receivables	$10M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$403M
PP&E (Net)	$77M
Goodwill	$66M
Intangible Assets	$3M
Long-Term Investments	$2.5B
Tax Assets	$0
Other Non-Current Assets	$162M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.2B
Account Payables	$879.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$46M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$15M
TOTAL NON-CURRENT LIABILITIES	$61M
TOTAL LIABILITIES	$2.8B
Common Stock	$132M
Additional Paid-In Capital	$0
Retained Earnings	$167M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$372M
Minority Interest	$0
TOTAL EQUITY	$372M
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$46M
Net Debt	-$174M