FRME Q4 2016 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

Q4 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$81M	$81M	—	-0.1%	—
Op. Income	$30M	$29M	—	5.7%	—
Gross Margin	88.8%	89.4%	—	-0.6pp	—
Net Margin	27.5%	25.9%	—	1.6pp	—
EPS (Diluted)	$0.55	$0.51	—	7.8%	—
Free Cash Flow	$24M	$48M	—	-50.3%	—

Revenue Flow

Item	Amount
REVENUE	$81M
Cost of Revenue	$9M
GROSS PROFIT	$72M
R&D Expenses	$0
Selling & Marketing	$790.0K
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$18M
Operating Expenses	$42M
Cost & Expenses	$51M
OPERATING INCOME	$30M
Interest Income	$65M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$8M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$2M
EBIT	$30M
EBITDA	$32M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$81M
Cost of Revenue	$9M
GROSS PROFIT	$72M
R&D Expenses	$0
Selling & Marketing	$790.0K
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$18M
Operating Expenses	$42M
Cost & Expenses	$51M
OPERATING INCOME	$30M
Interest Income	$65M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$8M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$2M
EBIT	$30M
EBITDA	$32M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$2M
Stock-Based Compensation	$717.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$630.0K
Change in Working Capital	-$3M
OPERATING CASH FLOW	$24M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$136M
Sales/Maturities of Investments	$117M
Other Investing Activities	-$156M
NET CASH FROM INVESTING	-$175M
Net Debt Issuance	$72M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$6M
Other Financing Activities	$115M
NET CASH FROM FINANCING	$179M
FREE CASH FLOW	$24M
Net Change in Cash	$28M

Balance Sheet

Item	Amount
Cash & Equivalents	$152M
Short-Term Investments	$697M
Net Receivables	$27M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$876M
PP&E (Net)	$94M
Goodwill	$244M
Intangible Assets	$15M
Long-Term Investments	$5.7B
Tax Assets	$39M
Other Non-Current Assets	$259M
TOTAL NON-CURRENT ASSETS	$6.3B
TOTAL ASSETS	$7.2B
Account Payables	$3M
Short-Term Debt	$267M
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$427M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$56M
TOTAL NON-CURRENT LIABILITIES	$484M
TOTAL LIABILITIES	$6.3B
Common Stock	$5M
Additional Paid-In Capital	$509M
Retained Earnings	$401M
Treasury Stock	$0
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$902M
Minority Interest	$0
TOTAL EQUITY	$902M
TOTAL LIABILITIES & EQUITY	$7.2B
Total Debt	$694M
Net Debt	$542M