ITIC FY 2018 Earnings Report — Investors Title Company Revenue & Financial Results | Market Cap Arena

Investors Title CompanyITIC

FY 2018 Earnings

Reported March 12, 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	$156M	—	$162M	—	-3.3%
Op. Income	$27M	—	$30M	—	-10.6%
Gross Margin	58.1%	—	55.5%	—	2.6pp
Net Margin	14.0%	—	15.9%	—	-1.9pp
EPS (Diluted)	$11.52	—	$13.56	—	-15.0%
Free Cash Flow	$23M	—	$17M	—	32.4%

Revenue Flow

Item	Amount
REVENUE	$156M
Cost of Revenue	$65M
GROSS PROFIT	$91M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$20M
Operating Expenses	$64M
Cost & Expenses	$129M
OPERATING INCOME	$27M
Interest Income	$5M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$5M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$2M
EBIT	$27M
EBITDA	$29M
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$156M
Cost of Revenue	$65M
GROSS PROFIT	$91M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$20M
Operating Expenses	$64M
Cost & Expenses	$129M
OPERATING INCOME	$27M
Interest Income	$5M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$5M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$2M
EBIT	$27M
EBITDA	$29M
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$2M
Stock-Based Compensation	$327.0K
Deferred Income Tax	-$4M
Other Non-Cash Items	$15.0K
Change in Working Capital	$4M
OPERATING CASH FLOW	$24M
Capital Expenditure	-$2M
Acquisitions (Net)	$59.0K
Purchases of Investments	-$110M
Sales/Maturities of Investments	$109M
Other Investing Activities	$7.0K
NET CASH FROM INVESTING	-$3M
Net Debt Issuance	$0
Common Stock Repurchased	-$29.0K
Common Dividends Paid	-$23M
Other Financing Activities	-$53.0K
NET CASH FROM FINANCING	-$23M
FREE CASH FLOW	$23M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$122M
Net Receivables	$0
Inventory	-$77M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$154M
PP&E (Net)	$10M
Goodwill	$4M
Intangible Assets	$6M
Long-Term Investments	$170M
Tax Assets	$4M
Other Non-Current Assets	-$4M
TOTAL NON-CURRENT ASSETS	$191M
TOTAL ASSETS	$244M
Account Payables	$28M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$33M
TOTAL CURRENT LIABILITIES	$28M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$64M
TOTAL NON-CURRENT LIABILITIES	$4M
TOTAL LIABILITIES	$69M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$175M
Treasury Stock	$0
Accum. Other Comp. Income	$949.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$176M
Minority Interest	$0
TOTAL EQUITY	$176M
TOTAL LIABILITIES & EQUITY	$244M
Total Debt	$0
Net Debt	-$19M