FUNC FY 2020 Earnings Report — First United Corporation Revenue & Financial Results | Market Cap Arena

First United CorporationFUNC

FY 2020 Earnings

Reported March 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$77M	—	$75M	—	3.0%
Op. Income	$18M	—	$16M	—	8.0%
Gross Margin	80.4%	—	82.8%	—	-2.4pp
Net Margin	18.0%	—	17.6%	—	0.4pp
EPS (Diluted)	$2.04	—	$1.85	—	10.3%
Free Cash Flow	$15M	—	$12M	—	17.3%

Revenue Flow

Item	Amount
REVENUE	$77M
Cost of Revenue	$15M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$573.0K
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$21M
Operating Expenses	$44M
Cost & Expenses	$59M
OPERATING INCOME	$18M
Interest Income	$58M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$18M
Income Tax Expense	$4M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$4M
EBIT	$18M
EBITDA	$21M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$77M
Cost of Revenue	$15M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$573.0K
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$21M
Operating Expenses	$44M
Cost & Expenses	$59M
OPERATING INCOME	$18M
Interest Income	$58M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$18M
Income Tax Expense	$4M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$4M
EBIT	$18M
EBITDA	$21M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$4M
Stock-Based Compensation	$345.0K
Deferred Income Tax	$527.0K
Other Non-Cash Items	-$278.0K
Change in Working Capital	-$2M
OPERATING CASH FLOW	$16M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$206M
Sales/Maturities of Investments	$136M
Other Investing Activities	-$120M
NET CASH FROM INVESTING	-$191M
Net Debt Issuance	$432.0K
Common Stock Repurchased	-$3M
Common Dividends Paid	-$4M
Other Financing Activities	$280M
NET CASH FROM FINANCING	$275M
FREE CASH FLOW	$15M
Net Change in Cash	$99M

Balance Sheet

Item	Amount
Cash & Equivalents	$149M
Short-Term Investments	$227M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$390M
PP&E (Net)	$39M
Goodwill	$11M
Intangible Assets	$0
Long-Term Investments	$1.2B
Tax Assets	$8M
Other Non-Current Assets	$64M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.7B
Account Payables	$17M
Short-Term Debt	$49M
Deferred Revenue	$0
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$101M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$114M
TOTAL LIABILITIES	$1.6B
Common Stock	$70.0K
Additional Paid-In Capital	$30M
Retained Earnings	$130M
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$131M
Minority Interest	$0
TOTAL EQUITY	$131M
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$153M
Net Debt	$4M