FRME Q3 2016 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

Q3 2016 Earnings

Reported November 9, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$81M	$79M	—	2.7%	—
Op. Income	$29M	$27M	—	6.8%	—
Gross Margin	89.4%	90.5%	—	-1.1pp	—
Net Margin	25.9%	25.3%	—	0.6pp	—
EPS (Diluted)	$0.51	$0.49	—	4.1%	—
Free Cash Flow	$48M	$8M	—	513.0%	—

Revenue Flow

Item	Amount
REVENUE	$81M
Cost of Revenue	$9M
GROSS PROFIT	$73M
R&D Expenses	$0
Selling & Marketing	$630.0K
General & Administrative	$27M
SG&A Expenses	$28M
Other Expenses	$16M
Operating Expenses	$44M
Cost & Expenses	$53M
OPERATING INCOME	$29M
Interest Income	$64M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$7M
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	$21M
D&A	$2M
EBIT	$29M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$81M
Cost of Revenue	$9M
GROSS PROFIT	$73M
R&D Expenses	$0
Selling & Marketing	$630.0K
General & Administrative	$27M
SG&A Expenses	$28M
Other Expenses	$16M
Operating Expenses	$44M
Cost & Expenses	$53M
OPERATING INCOME	$29M
Interest Income	$64M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$7M
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	$21M
D&A	$2M
EBIT	$29M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$21M
Depreciation & Amortization	$2M
Stock-Based Compensation	$648.0K
Deferred Income Tax	$1M
Other Non-Cash Items	$24M
Change in Working Capital	-$525.0K
OPERATING CASH FLOW	$48M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$83M
Sales/Maturities of Investments	$71M
Other Investing Activities	-$153M
NET CASH FROM INVESTING	-$165M
Net Debt Issuance	$65M
Common Stock Repurchased	$37.0K
Common Dividends Paid	-$6M
Other Financing Activities	$37M
NET CASH FROM FINANCING	$96M
FREE CASH FLOW	$48M
Net Change in Cash	-$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$133M
Short-Term Investments	$676M
Net Receivables	$24M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$833M
PP&E (Net)	$96M
Goodwill	$244M
Intangible Assets	$16M
Long-Term Investments	$5.5B
Tax Assets	$32M
Other Non-Current Assets	$266M
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$7.0B
Account Payables	$4M
Short-Term Debt	$197M
Deferred Revenue	$0
Other Current Liabilities	$5.4B
TOTAL CURRENT LIABILITIES	$5.6B
Long-Term Debt	$425M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$51M
TOTAL NON-CURRENT LIABILITIES	$476M
TOTAL LIABILITIES	$6.1B
Common Stock	$5M
Additional Paid-In Capital	$507M
Retained Earnings	$385M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$901M
Minority Interest	$0
TOTAL EQUITY	$901M
TOTAL LIABILITIES & EQUITY	$7.0B
Total Debt	$622M
Net Debt	$489M