HBNC FY 2012 Earnings Report — Horizon Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Horizon Bancorp, Inc.HBNC

FY 2012 Earnings

Reported March 12, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$96M	—	$81M	—	18.2%
Op. Income	$28M	—	$17M	—	64.8%
Gross Margin	81.3%	—	73.1%	—	8.3pp
Net Margin	20.4%	—	15.8%	—	4.6pp
EPS (Diluted)	$1.02	—	$0.67	—	52.2%
Free Cash Flow	$19M	—	$20M	—	-2.8%

Revenue Flow

Item	Amount
REVENUE	$96M
Cost of Revenue	$18M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$29M
SG&A Expenses	$29M
Other Expenses	$20M
Operating Expenses	$50M
Cost & Expenses	$68M
OPERATING INCOME	$28M
Interest Income	$73M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$8M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$28M
EBITDA	$31M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$96M
Cost of Revenue	$18M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$29M
SG&A Expenses	$29M
Other Expenses	$20M
Operating Expenses	$50M
Cost & Expenses	$68M
OPERATING INCOME	$28M
Interest Income	$73M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$8M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$28M
EBITDA	$31M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$3M
Stock-Based Compensation	$33.0K
Deferred Income Tax	$0
Other Non-Cash Items	$6M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$26M
Capital Expenditure	-$7M
Acquisitions (Net)	$26M
Purchases of Investments	-$114M
Sales/Maturities of Investments	$132M
Other Investing Activities	-$98M
NET CASH FROM INVESTING	-$60M
Net Debt Issuance	-$25M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$73M
NET CASH FROM FINANCING	$44M
FREE CASH FLOW	$19M
Net Change in Cash	$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$31M
Short-Term Investments	$483M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$521M
PP&E (Net)	$42M
Goodwill	$20M
Intangible Assets	$4M
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$75M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.8B
Account Payables	$560.0K
Short-Term Debt	$231M
Deferred Revenue	$0
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$147M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$163M
TOTAL LIABILITIES	$1.7B
Common Stock	$0
Additional Paid-In Capital	$32M
Retained Earnings	$105M
Treasury Stock	$0
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$159M
Minority Interest	$0
TOTAL EQUITY	$159M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$378M
Net Debt	$347M