ISBA FY 2013 Earnings Report — Isabella Bank Corporation Revenue & Financial Results | Market Cap Arena

Isabella Bank CorporationISBA

FY 2013 Earnings

Reported March 10, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$60M	—	$67M	—	-10.7%
Op. Income	$15M	—	$15M	—	0.9%
Gross Margin	79.8%	—	76.6%	—	3.2pp
Net Margin	20.8%	—	18.2%	—	2.7pp
EPS (Diluted)	$1.59	—	$1.56	—	1.9%
Free Cash Flow	$21M	—	$16M	—	32.9%

Revenue Flow

Item	Amount
REVENUE	$60M
Cost of Revenue	$12M
GROSS PROFIT	$48M
R&D Expenses	$0
Selling & Marketing	$416.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$12M
Operating Expenses	$33M
Cost & Expenses	$45M
OPERATING INCOME	$15M
Interest Income	$50M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$15M
Income Tax Expense	$2M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$3M
EBIT	$15M
EBITDA	$18M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$60M
Cost of Revenue	$12M
GROSS PROFIT	$48M
R&D Expenses	$0
Selling & Marketing	$416.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$12M
Operating Expenses	$33M
Cost & Expenses	$45M
OPERATING INCOME	$15M
Interest Income	$50M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$15M
Income Tax Expense	$2M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$3M
EBIT	$15M
EBITDA	$18M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$3M
Stock-Based Compensation	$554.0K
Deferred Income Tax	-$1M
Other Non-Cash Items	$5M
Change in Working Capital	$4M
OPERATING CASH FLOW	$24M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$132M
Sales/Maturities of Investments	$102M
Other Investing Activities	-$38M
NET CASH FROM INVESTING	-$70M
Net Debt Issuance	$38M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$6M
Other Financing Activities	$26M
NET CASH FROM FINANCING	$59M
FREE CASH FLOW	$21M
Net Change in Cash	$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$42M
Short-Term Investments	$512M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$559M
PP&E (Net)	$26M
Goodwill	$46M
Intangible Assets	$693.0K
Long-Term Investments	$834M
Tax Assets	$0
Other Non-Current Assets	$27M
TOTAL NON-CURRENT ASSETS	$934M
TOTAL ASSETS	$1.5B
Account Payables	$9M
Short-Term Debt	$117M
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$162M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$9M
TOTAL NON-CURRENT LIABILITIES	$153M
TOTAL LIABILITIES	$1.3B
Common Stock	$138M
Additional Paid-In Capital	$138M
Retained Earnings	$25M
Treasury Stock	$0
Accum. Other Comp. Income	-$6M
Other Equity	-$133M
TOTAL STOCKHOLDERS' EQUITY	$161M
Minority Interest	$0
TOTAL EQUITY	$161M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$279M
Net Debt	$237M