GAM FY 2017 Earnings Report — General American Investors Company, Inc. Revenue & Financial Results | Market Cap Arena

General American Investors Company, Inc.GAM

FY 2017 Earnings

Reported December 31, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$185M	—	$98M	—	88.8%
Op. Income	$171M	—	$84M	—	102.2%
Gross Margin	94.0%	—	89.0%	—	5.0pp
Net Margin	92.5%	—	86.4%	—	6.1pp
EPS (Diluted)	$6.20	—	$3.42	—	81.3%
Free Cash Flow	$0	—	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$185M
Cost of Revenue	$11M
GROSS PROFIT	$173M
R&D Expenses	$1
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$387.9K
Operating Expenses	$14M
Cost & Expenses	$14M
OPERATING INCOME	$171M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$171M
Income Tax Expense	$0
Net Income from Continuing Ops	$171M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$171M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	-$57M
EBIT	$0
EBITDA	$0
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$185M
Cost of Revenue	$11M
GROSS PROFIT	$173M
R&D Expenses	$1
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$387.9K
Operating Expenses	$14M
Cost & Expenses	$14M
OPERATING INCOME	$171M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$171M
Income Tax Expense	$0
Net Income from Continuing Ops	$171M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$171M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	-$57M
EBIT	$0
EBITDA	$0
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$171M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$171M
Change in Working Capital	$0
OPERATING CASH FLOW	$0
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$0
Net Change in Cash	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$0
Short-Term Investments	$0
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3M
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.3B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$13M
TOTAL LIABILITIES	$16M
Common Stock	$26M
Additional Paid-In Capital	$452M
Retained Earnings	-$3M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$595M
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$0
Net Debt	$0