FUNC FY 2019 Earnings Report — First United Corporation Revenue & Financial Results | Market Cap Arena

First United CorporationFUNC

FY 2019 Earnings

Reported March 13, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$75M	—	$68M	—	10.6%
Op. Income	$16M	—	$13M	—	22.6%
Gross Margin	82.8%	—	84.9%	—	-2.1pp
Net Margin	17.6%	—	15.8%	—	1.8pp
EPS (Diluted)	$1.85	—	$1.51	—	22.5%
Free Cash Flow	$12M	—	$9M	—	40.9%

Revenue Flow

Item	Amount
REVENUE	$75M
Cost of Revenue	$13M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$418.0K
General & Administrative	$25M
SG&A Expenses	$25M
Other Expenses	$20M
Operating Expenses	$45M
Cost & Expenses	$58M
OPERATING INCOME	$16M
Interest Income	$58M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$3M
EBIT	$16M
EBITDA	$20M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$75M
Cost of Revenue	$13M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$418.0K
General & Administrative	$25M
SG&A Expenses	$25M
Other Expenses	$20M
Operating Expenses	$45M
Cost & Expenses	$58M
OPERATING INCOME	$16M
Interest Income	$58M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$3M
EBIT	$16M
EBITDA	$20M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$3M
Stock-Based Compensation	$268.0K
Deferred Income Tax	$953.0K
Other Non-Cash Items	-$2M
Change in Working Capital	$897.0K
OPERATING CASH FLOW	$16M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$48M
Sales/Maturities of Investments	$57M
Other Investing Activities	-$38M
NET CASH FROM INVESTING	-$33M
Net Debt Issuance	-$29M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$75M
NET CASH FROM FINANCING	$43M
FREE CASH FLOW	$12M
Net Change in Cash	$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$50M
Short-Term Investments	$131M
Net Receivables	$16M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$197M
PP&E (Net)	$41M
Goodwill	$11M
Intangible Assets	$0
Long-Term Investments	$1.1B
Tax Assets	$7M
Other Non-Current Assets	$52M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.4B
Account Payables	$20M
Short-Term Debt	$49M
Deferred Revenue	$0
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$101M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$20M
TOTAL NON-CURRENT LIABILITIES	$124M
TOTAL LIABILITIES	$1.3B
Common Stock	$71.0K
Additional Paid-In Capital	$32M
Retained Earnings	$119M
Treasury Stock	$0
Accum. Other Comp. Income	-$26M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$126M
Minority Interest	$0
TOTAL EQUITY	$126M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$153M
Net Debt	$103M