ITIC FY 2017 Earnings Report — Investors Title Company Revenue & Financial Results | Market Cap Arena

Investors Title CompanyITIC

FY 2017 Earnings

Reported March 12, 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	$162M	—	$138M	—	16.7%
Op. Income	$30M	—	$28M	—	7.6%
Gross Margin	55.5%	—	53.9%	—	1.6pp
Net Margin	15.9%	—	14.1%	—	1.8pp
EPS (Diluted)	$13.56	—	$10.19	—	33.1%
Free Cash Flow	$17M	—	$20M	—	-15.3%

Revenue Flow

Item	Amount
REVENUE	$162M
Cost of Revenue	$72M
GROSS PROFIT	$90M
R&D Expenses	$0
Selling & Marketing	$69M
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$19M
Operating Expenses	$59M
Cost & Expenses	$131M
OPERATING INCOME	$30M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$5M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$2M
EBIT	$30M
EBITDA	$33M
EPS	$14
EPS Diluted	$14

Income Statement

Item	Amount
REVENUE	$162M
Cost of Revenue	$72M
GROSS PROFIT	$90M
R&D Expenses	$0
Selling & Marketing	$69M
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$19M
Operating Expenses	$59M
Cost & Expenses	$131M
OPERATING INCOME	$30M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$5M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$2M
EBIT	$30M
EBITDA	$33M
EPS	$14
EPS Diluted	$14

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$2M
Stock-Based Compensation	$219.3K
Deferred Income Tax	-$5M
Other Non-Cash Items	-$2M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$20M
Capital Expenditure	-$3M
Acquisitions (Net)	-$175.0K
Purchases of Investments	-$51M
Sales/Maturities of Investments	$34M
Other Investing Activities	$72.7K
NET CASH FROM INVESTING	-$20M
Net Debt Issuance	$0
Common Stock Repurchased	-$246.0K
Common Dividends Paid	-$7M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$17M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$20M
Short-Term Investments	$127M
Net Receivables	$385M
Inventory	$67.8B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$68.0B
PP&E (Net)	$10M
Goodwill	$4M
Intangible Assets	$7M
Long-Term Investments	$174M
Tax Assets	$8.6B
Other Non-Current Assets	$11.2B
TOTAL NON-CURRENT ASSETS	$20.0B
TOTAL ASSETS	$249M
Account Payables	$28M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$28M
TOTAL CURRENT LIABILITIES	$28M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$9M
Other Non-Current Liabilities	$62M
TOTAL NON-CURRENT LIABILITIES	$9M
TOTAL LIABILITIES	$71M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$162M
Treasury Stock	$0
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$178M
Minority Interest	$85.0K
TOTAL EQUITY	$178M
TOTAL LIABILITIES & EQUITY	$249M
Total Debt	$0
Net Debt	-$20M