FXNC FY 2009 Earnings Report — First National Corporation Revenue & Financial Results | Market Cap Arena

First National CorporationFXNC

FY 2009 Earnings

Reported March 26, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$33M	—	$37M	—	-10.5%
Op. Income	$3M	—	$6M	—	-52.1%
Gross Margin	65.5%	—	59.9%	—	5.6pp
Net Margin	6.5%	—	11.5%	—	-4.9pp
EPS (Diluted)	$0.49	—	$1.45	—	-66.2%
Free Cash Flow	$3M	—	$3M	—	-7.6%

Revenue Flow

Item	Amount
REVENUE	$33M
Cost of Revenue	$11M
GROSS PROFIT	$22M
R&D Expenses	$0
Selling & Marketing	$532.0K
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$7M
Operating Expenses	$19M
Cost & Expenses	$30M
OPERATING INCOME	$3M
Interest Income	$27M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3M
Income Tax Expense	$755.0K
Net Income from Continuing Ops	$2M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1M
D&A	$2M
EBIT	$3M
EBITDA	$4M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$33M
Cost of Revenue	$11M
GROSS PROFIT	$22M
R&D Expenses	$0
Selling & Marketing	$532.0K
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$7M
Operating Expenses	$19M
Cost & Expenses	$30M
OPERATING INCOME	$3M
Interest Income	$27M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3M
Income Tax Expense	$755.0K
Net Income from Continuing Ops	$2M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1M
D&A	$2M
EBIT	$3M
EBITDA	$4M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$2M
Depreciation & Amortization	$2M
Stock-Based Compensation	$190.0K
Deferred Income Tax	-$2M
Other Non-Cash Items	$3M
Change in Working Capital	-$770.0K
OPERATING CASH FLOW	$4M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$22M
Sales/Maturities of Investments	$17M
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$311.0K
Net Debt Issuance	-$25M
Common Stock Repurchased	-$85.0K
Common Dividends Paid	-$2M
Other Financing Activities	$14M
NET CASH FROM FINANCING	$503.0K
FREE CASH FLOW	$3M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$15M
Short-Term Investments	$0
Net Receivables	$2M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$17M
PP&E (Net)	$21M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$496M
Tax Assets	$0
Other Non-Current Assets	$18M
TOTAL NON-CURRENT ASSETS	$536M
TOTAL ASSETS	$553M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$464M
TOTAL CURRENT LIABILITIES	$468M
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$29M
TOTAL LIABILITIES	$498M
Common Stock	$4M
Additional Paid-In Capital	$1M
Retained Earnings	$35M
Treasury Stock	$0
Accum. Other Comp. Income	$665.0K
Other Equity	-$42.0K
TOTAL STOCKHOLDERS' EQUITY	$55M
Minority Interest	$0
TOTAL EQUITY	$55M
TOTAL LIABILITIES & EQUITY	$553M
Total Debt	$20M
Net Debt	$5M