LCNB FY 2019 Earnings Report — LCNB Corp. Revenue & Financial Results | Market Cap Arena

FY 2019 Earnings

Reported March 4, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$77M	—	$65M	—	18.3%
Op. Income	$23M	—	$18M	—	29.4%
Gross Margin	85.7%	—	88.7%	—	-3.0pp
Net Margin	24.6%	—	22.8%	—	1.8pp
EPS (Diluted)	$1.44	—	$1.24	—	16.1%
Free Cash Flow	$18M	—	$19M	—	-5.8%

Revenue Flow

Item	Amount
REVENUE	$77M
Cost of Revenue	$11M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$26M
SG&A Expenses	$28M
Other Expenses	$15M
Operating Expenses	$43M
Cost & Expenses	$54M
OPERATING INCOME	$23M
Interest Income	$65M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$23M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$77M
Cost of Revenue	$11M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$26M
SG&A Expenses	$28M
Other Expenses	$15M
Operating Expenses	$43M
Cost & Expenses	$54M
OPERATING INCOME	$23M
Interest Income	$65M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$23M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$3M
Stock-Based Compensation	$134.0K
Deferred Income Tax	$419.0K
Other Non-Cash Items	-$1M
Change in Working Capital	$331.0K
OPERATING CASH FLOW	$22M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$56M
Sales/Maturities of Investments	$125M
Other Investing Activities	-$55M
NET CASH FROM INVESTING	$9M
Net Debt Issuance	-$62M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$9M
Other Financing Activities	$47M
NET CASH FROM FINANCING	-$30M
FREE CASH FLOW	$18M
Net Change in Cash	$725.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$21M
Short-Term Investments	$178M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$203M
PP&E (Net)	$40M
Goodwill	$59M
Intangible Assets	$4M
Long-Term Investments	$1.3B
Tax Assets	$0
Other Non-Current Assets	$62M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.6B
Account Payables	$17M
Short-Term Debt	$0
Deferred Revenue	$7M
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$41M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$17M
TOTAL NON-CURRENT LIABILITIES	$30M
TOTAL LIABILITIES	$1.4B
Common Stock	$142M
Additional Paid-In Capital	$0
Retained Earnings	$104M
Treasury Stock	-$19M
Accum. Other Comp. Income	$673.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$228M
Minority Interest	$0
TOTAL EQUITY	$228M
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$46M
Net Debt	$26M