HBNC FY 2014 Earnings Report — Horizon Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Horizon Bancorp, Inc.HBNC

FY 2014 Earnings

Reported March 13, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$98M	—	$96M	—	1.7%
Op. Income	$24M	—	$27M	—	-9.9%
Gross Margin	83.3%	—	84.0%	—	-0.6pp
Net Margin	18.5%	—	20.7%	—	-2.2pp
EPS (Diluted)	$0.84	—	$0.96	—	-12.5%
Free Cash Flow	$11M	—	$41M	—	-71.9%

Revenue Flow

Item	Amount
REVENUE	$98M
Cost of Revenue	$16M
GROSS PROFIT	$81M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$34M
SG&A Expenses	$34M
Other Expenses	$23M
Operating Expenses	$57M
Cost & Expenses	$73M
OPERATING INCOME	$24M
Interest Income	$76M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$6M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$98M
Cost of Revenue	$16M
GROSS PROFIT	$81M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$34M
SG&A Expenses	$34M
Other Expenses	$23M
Operating Expenses	$57M
Cost & Expenses	$73M
OPERATING INCOME	$24M
Interest Income	$76M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$6M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$4M
EBIT	$24M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$18M
Depreciation & Amortization	$4M
Stock-Based Compensation	$203.0K
Deferred Income Tax	$0
Other Non-Cash Items	$263.0K
Change in Working Capital	-$5M
OPERATING CASH FLOW	$18M
Capital Expenditure	-$6M
Acquisitions (Net)	$7M
Purchases of Investments	-$98M
Sales/Maturities of Investments	$131M
Other Investing Activities	-$183M
NET CASH FROM INVESTING	-$149M
Net Debt Issuance	$78M
Common Stock Repurchased	$0
Common Dividends Paid	-$5M
Other Financing Activities	$70M
NET CASH FROM FINANCING	$143M
FREE CASH FLOW	$11M
Net Change in Cash	$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$43M
Short-Term Investments	$324M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$375M
PP&E (Net)	$52M
Goodwill	$28M
Intangible Assets	$4M
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$83M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.1B
Account Payables	$497.0K
Short-Term Debt	$235M
Deferred Revenue	$0
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$165M
TOTAL LIABILITIES	$1.9B
Common Stock	$0
Additional Paid-In Capital	$46M
Retained Earnings	$134M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$194M
Minority Interest	$0
TOTAL EQUITY	$194M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$384M
Net Debt	$340M