HBNC FY 2017 Earnings Report — Horizon Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Horizon Bancorp, Inc.HBNC

FY 2017 Earnings

Reported February 28, 2018

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	$157M	—	$136M	—	14.8%
Op. Income	$48M	—	$33M	—	46.6%
Gross Margin	88.0%	—	83.6%	—	4.4pp
Net Margin	21.1%	—	17.5%	—	3.6pp
EPS (Diluted)	$0.95	—	$0.79	—	20.3%
Free Cash Flow	$46M	—	$24M	—	91.9%

Revenue Flow

Item	Amount
REVENUE	$157M
Cost of Revenue	$19M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$52M
SG&A Expenses	$52M
Other Expenses	$37M
Operating Expenses	$90M
Cost & Expenses	$109M
OPERATING INCOME	$48M
Interest Income	$128M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$15M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$6M
EBIT	$48M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$157M
Cost of Revenue	$19M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$52M
SG&A Expenses	$52M
Other Expenses	$37M
Operating Expenses	$90M
Cost & Expenses	$109M
OPERATING INCOME	$48M
Interest Income	$128M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$15M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$6M
EBIT	$48M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$6M
Stock-Based Compensation	$325.0K
Deferred Income Tax	$0
Other Non-Cash Items	$12M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$49M
Capital Expenditure	-$3M
Acquisitions (Net)	$44M
Purchases of Investments	-$181M
Sales/Maturities of Investments	$99M
Other Investing Activities	-$238M
NET CASH FROM INVESTING	-$279M
Net Debt Issuance	$260M
Common Stock Repurchased	$0
Common Dividends Paid	-$12M
Other Financing Activities	-$13M
NET CASH FROM FINANCING	$236M
FREE CASH FLOW	$46M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$76M
Short-Term Investments	$510M
Net Receivables	$13M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$599M
PP&E (Net)	$76M
Goodwill	$120M
Intangible Assets	$12M
Long-Term Investments	$3.0B
Tax Assets	$0
Other Non-Current Assets	$135M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$4.0B
Account Payables	$886.0K
Short-Term Debt	$217M
Deferred Revenue	$0
Other Current Liabilities	$2.9B
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$386M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$408M
TOTAL LIABILITIES	$3.5B
Common Stock	$0
Additional Paid-In Capital	$275M
Retained Earnings	$186M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$457M
Minority Interest	$0
TOTAL EQUITY	$457M
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$602M
Net Debt	$525M