FRME Q2 2017 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

Q2 2017 Earnings

Reported August 9, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2017	Q1 2017	Q2 2016	QoQ Change	YoY Change
Revenue	$90M	$83M	$79M	8.2%	13.7%
Op. Income	$31M	$30M	$27M	3.2%	17.3%
Gross Margin	87.5%	88.4%	90.5%	-0.9pp	-3.0pp
Net Margin	26.8%	27.9%	25.3%	-1.1pp	1.6pp
EPS (Diluted)	$0.57	$0.56	$0.49	1.8%	16.3%
Free Cash Flow	$22M	$35M	$8M	-37.3%	181.4%

Revenue Flow

Item	Amount
REVENUE	$90M
Cost of Revenue	$11M
GROSS PROFIT	$79M
R&D Expenses	$0
Selling & Marketing	$792.0K
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$19M
Operating Expenses	$47M
Cost & Expenses	$59M
OPERATING INCOME	$31M
Interest Income	$71M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$7M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$2M
EBIT	$31M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$90M
Cost of Revenue	$11M
GROSS PROFIT	$79M
R&D Expenses	$0
Selling & Marketing	$792.0K
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$19M
Operating Expenses	$47M
Cost & Expenses	$59M
OPERATING INCOME	$31M
Interest Income	$71M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$7M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$2M
EBIT	$31M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$2M
Stock-Based Compensation	$488.0K
Deferred Income Tax	$678.0K
Other Non-Cash Items	-$2M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$22M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$59M
Sales/Maturities of Investments	$51M
Other Investing Activities	-$93M
NET CASH FROM INVESTING	-$101M
Net Debt Issuance	-$5M
Common Stock Repurchased	-$3.0K
Common Dividends Paid	-$8M
Other Financing Activities	$130M
NET CASH FROM FINANCING	$118M
FREE CASH FLOW	$22M
Net Change in Cash	$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$191M
Short-Term Investments	$743M
Net Receivables	$28M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$962M
PP&E (Net)	$93M
Goodwill	$292M
Intangible Assets	$17M
Long-Term Investments	$6.1B
Tax Assets	$27M
Other Non-Current Assets	$267M
TOTAL NON-CURRENT ASSETS	$6.8B
TOTAL ASSETS	$7.8B
Account Payables	$3M
Short-Term Debt	$262M
Deferred Revenue	$0
Other Current Liabilities	$6.0B
TOTAL CURRENT LIABILITIES	$6.3B
Long-Term Debt	$441M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$45M
TOTAL NON-CURRENT LIABILITIES	$487M
TOTAL LIABILITIES	$6.8B
Common Stock	$5M
Additional Paid-In Capital	$594M
Retained Earnings	$434M
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$7.8B
Total Debt	$704M
Net Debt	$513M