FBNC FY 2015 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2015 Earnings

Reported March 14, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$156M	—	$167M	—	-6.9%
Op. Income	$41M	—	$39M	—	6.8%
Gross Margin	96.1%	—	89.0%	—	7.1pp
Net Margin	17.4%	—	15.0%	—	2.4pp
EPS (Diluted)	$1.30	—	$1.19	—	9.2%
Free Cash Flow	$32M	—	$43M	—	-26.0%

Revenue Flow

Item	Amount
REVENUE	$156M
Cost of Revenue	$6M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$51M
Operating Expenses	$108M
Cost & Expenses	$114M
OPERATING INCOME	$41M
Interest Income	$127M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$14M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$5M
EBIT	$41M
EBITDA	$46M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$156M
Cost of Revenue	$6M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$51M
Operating Expenses	$108M
Cost & Expenses	$114M
OPERATING INCOME	$41M
Interest Income	$127M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$14M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$5M
EBIT	$41M
EBITDA	$46M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$27M
Depreciation & Amortization	$5M
Stock-Based Compensation	$710.0K
Deferred Income Tax	$0
Other Non-Cash Items	$10M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$37M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$97M
Sales/Maturities of Investments	$109M
Other Investing Activities	-$145M
NET CASH FROM INVESTING	-$138M
Net Debt Issuance	$70M
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	$115M
NET CASH FROM FINANCING	$115M
FREE CASH FLOW	$32M
Net Change in Cash	$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$267M
Short-Term Investments	$166M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$441M
PP&E (Net)	$75M
Goodwill	$66M
Intangible Assets	$1M
Long-Term Investments	$2.6B
Tax Assets	$0
Other Non-Current Assets	$130M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.4B
Account Payables	$585.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$186M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$208M
TOTAL LIABILITIES	$3.0B
Common Stock	$133M
Additional Paid-In Capital	$0
Retained Earnings	$205M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$342M
Minority Interest	$0
TOTAL EQUITY	$342M
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$186M
Net Debt	-$80M