HBNC FY 2018 Earnings Report — Horizon Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Horizon Bancorp, Inc.HBNC

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$194M	—	$157M	—	24.0%
Op. Income	$64M	—	$48M	—	32.5%
Gross Margin	82.2%	—	88.0%	—	-5.7pp
Net Margin	27.3%	—	21.1%	—	6.2pp
EPS (Diluted)	$1.38	—	$0.95	—	45.3%
Free Cash Flow	$69M	—	$46M	—	48.5%

Revenue Flow

Item	Amount
REVENUE	$194M
Cost of Revenue	$35M
GROSS PROFIT	$160M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$58M
SG&A Expenses	$58M
Other Expenses	$38M
Operating Expenses	$96M
Cost & Expenses	$131M
OPERATING INCOME	$64M
Interest Income	$166M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$64M
Income Tax Expense	$10M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$7M
EBIT	$64M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$194M
Cost of Revenue	$35M
GROSS PROFIT	$160M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$58M
SG&A Expenses	$58M
Other Expenses	$38M
Operating Expenses	$96M
Cost & Expenses	$131M
OPERATING INCOME	$64M
Interest Income	$166M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$64M
Income Tax Expense	$10M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$7M
EBIT	$64M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$53M
Depreciation & Amortization	$7M
Stock-Based Compensation	$251.0K
Deferred Income Tax	$0
Other Non-Cash Items	$7M
Change in Working Capital	$5M
OPERATING CASH FLOW	$72M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$243M
Sales/Maturities of Investments	$132M
Other Investing Activities	-$189M
NET CASH FROM INVESTING	-$304M
Net Debt Issuance	-$14M
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	$258M
NET CASH FROM FINANCING	$230M
FREE CASH FLOW	$69M
Net Change in Cash	-$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$74M
Short-Term Investments	$600M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$689M
PP&E (Net)	$74M
Goodwill	$120M
Intangible Assets	$10M
Long-Term Investments	$3.2B
Tax Assets	$0
Other Non-Current Assets	$147M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.2B
Account Payables	$2M
Short-Term Debt	$194M
Deferred Revenue	$0
Other Current Liabilities	$3.1B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$394M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$25M
TOTAL NON-CURRENT LIABILITIES	$419M
TOTAL LIABILITIES	$3.8B
Common Stock	$0
Additional Paid-In Capital	$276M
Retained Earnings	$224M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$492M
Minority Interest	$0
TOTAL EQUITY	$492M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$588M
Net Debt	$514M