FRST FY 2014 Earnings Report — Primis Financial Corp. Revenue & Financial Results | Market Cap Arena

Primis Financial Corp.FRST

FY 2014 Earnings

Reported March 13, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$40M	—	$37M	—	8.2%
Op. Income	$11M	—	$9M	—	20.9%
Gross Margin	79.7%	—	77.5%	—	2.1pp
Net Margin	18.8%	—	17.0%	—	1.8pp
EPS (Diluted)	$0.63	—	$0.54	—	16.7%
Free Cash Flow	$11M	—	$5M	—	95.7%

Revenue Flow

Item	Amount
REVENUE	$40M
Cost of Revenue	$8M
GROSS PROFIT	$32M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$12M
SG&A Expenses	$12M
Other Expenses	$8M
Operating Expenses	$21M
Cost & Expenses	$29M
OPERATING INCOME	$11M
Interest Income	$38M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$11M
Income Tax Expense	$4M
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$1M
EBIT	$11M
EBITDA	$12M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$40M
Cost of Revenue	$8M
GROSS PROFIT	$32M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$12M
SG&A Expenses	$12M
Other Expenses	$8M
Operating Expenses	$21M
Cost & Expenses	$29M
OPERATING INCOME	$11M
Interest Income	$38M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$11M
Income Tax Expense	$4M
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$1M
EBIT	$11M
EBITDA	$12M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$7M
Depreciation & Amortization	$1M
Stock-Based Compensation	$317.0K
Deferred Income Tax	-$418.0K
Other Non-Cash Items	$491.0K
Change in Working Capital	$2M
OPERATING CASH FLOW	$11M
Capital Expenditure	-$897.0K
Acquisitions (Net)	$22M
Purchases of Investments	-$23M
Sales/Maturities of Investments	$7M
Other Investing Activities	-$95M
NET CASH FROM INVESTING	-$90M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$7M
Other Financing Activities	$103M
NET CASH FROM FINANCING	$96M
FREE CASH FLOW	$11M
Net Change in Cash	$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$38M
Short-Term Investments	$2M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$41M
PP&E (Net)	$9M
Goodwill	$11M
Intangible Assets	$1M
Long-Term Investments	$796M
Tax Assets	$10M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$876M
TOTAL ASSETS	$916M
Account Payables	$0
Short-Term Debt	$29M
Deferred Revenue	$0
Other Current Liabilities	$742M
TOTAL CURRENT LIABILITIES	$771M
Long-Term Debt	$25M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$31M
TOTAL LIABILITIES	$802M
Common Stock	$122.0K
Additional Paid-In Capital	$104M
Retained Earnings	$13M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$114M
Minority Interest	$0
TOTAL EQUITY	$114M
TOTAL LIABILITIES & EQUITY	$916M
Total Debt	$54M
Net Debt	$16M