FBNC FY 2017 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2017 Earnings

Reported March 1, 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	$226M	—	$167M	—	35.5%
Op. Income	$68M	—	$42M	—	60.8%
Gross Margin	94.1%	—	95.5%	—	-1.4pp
Net Margin	20.3%	—	16.5%	—	3.8pp
EPS (Diluted)	$1.82	—	$1.33	—	36.8%
Free Cash Flow	$22M	—	$33M	—	-31.9%

Revenue Flow

Item	Amount
REVENUE	$226M
Cost of Revenue	$13M
GROSS PROFIT	$213M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$82M
SG&A Expenses	$82M
Other Expenses	$63M
Operating Expenses	$145M
Cost & Expenses	$158M
OPERATING INCOME	$68M
Interest Income	$177M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$22M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$10M
EBIT	$68M
EBITDA	$77M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$226M
Cost of Revenue	$13M
GROSS PROFIT	$213M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$82M
SG&A Expenses	$82M
Other Expenses	$63M
Operating Expenses	$145M
Cost & Expenses	$158M
OPERATING INCOME	$68M
Interest Income	$177M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$22M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$10M
EBIT	$68M
EBITDA	$77M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$46M
Depreciation & Amortization	$10M
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	-$25M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$27M
Capital Expenditure	-$5M
Acquisitions (Net)	$73M
Purchases of Investments	-$192M
Sales/Maturities of Investments	$201M
Other Investing Activities	-$206M
NET CASH FROM INVESTING	-$129M
Net Debt Issuance	$97M
Common Stock Repurchased	$0
Common Dividends Paid	-$8M
Other Financing Activities	$196M
NET CASH FROM FINANCING	$285M
FREE CASH FLOW	$22M
Net Change in Cash	$183M

Balance Sheet

Item	Amount
Cash & Equivalents	$489M
Short-Term Investments	$343M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$847M
PP&E (Net)	$116M
Goodwill	$233M
Intangible Assets	$24M
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$176M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$5.5B
Account Payables	$1M
Short-Term Debt	$343M
Deferred Revenue	$0
Other Current Liabilities	$4.4B
TOTAL CURRENT LIABILITIES	$4.8B
Long-Term Debt	$351M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$248M
TOTAL NON-CURRENT LIABILITIES	$103M
TOTAL LIABILITIES	$4.9B
Common Stock	$433M
Additional Paid-In Capital	$0
Retained Earnings	$264M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$4M
Other Equity	$4M
TOTAL STOCKHOLDERS' EQUITY	$693M
Minority Interest	$0
TOTAL EQUITY	$693M
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$694M
Net Debt	$204M