LKFN FY 2012 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2012 Earnings

Reported March 4, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$135M	—	$140M	—	-3.7%
Op. Income	$53M	—	$45M	—	15.9%
Gross Margin	78.4%	—	68.9%	—	9.4pp
Net Margin	26.2%	—	21.8%	—	4.3pp
EPS (Diluted)	$1.43	—	$1.25	—	14.4%
Free Cash Flow	$48M	—	$45M	—	6.7%

Revenue Flow

Item	Amount
REVENUE	$135M
Cost of Revenue	$29M
GROSS PROFIT	$106M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$39M
SG&A Expenses	$39M
Other Expenses	$14M
Operating Expenses	$53M
Cost & Expenses	$83M
OPERATING INCOME	$53M
Interest Income	$114M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$17M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	$4M
EBIT	$53M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$135M
Cost of Revenue	$29M
GROSS PROFIT	$106M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$39M
SG&A Expenses	$39M
Other Expenses	$14M
Operating Expenses	$53M
Cost & Expenses	$83M
OPERATING INCOME	$53M
Interest Income	$114M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$17M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	$4M
EBIT	$53M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$35M
Depreciation & Amortization	$4M
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	$4M
Change in Working Capital	$7M
OPERATING CASH FLOW	$51M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$162M
Sales/Maturities of Investments	$153M
Other Investing Activities	-$47M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	-$20M
Common Stock Repurchased	-$421.0K
Common Dividends Paid	-$14M
Other Financing Activities	$170M
NET CASH FROM FINANCING	$136M
FREE CASH FLOW	$48M
Net Change in Cash	$128M

Balance Sheet

Item	Amount
Cash & Equivalents	$232M
Short-Term Investments	$467M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$708M
PP&E (Net)	$35M
Goodwill	$5M
Intangible Assets	$47.0K
Long-Term Investments	$2.2B
Tax Assets	$0
Other Non-Current Assets	$101M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$3.1B
Account Payables	$5M
Short-Term Debt	$122M
Deferred Revenue	$0
Other Current Liabilities	$2.6B
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$46M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$3M
TOTAL NON-CURRENT LIABILITIES	$43M
TOTAL LIABILITIES	$2.8B
Common Stock	$90M
Additional Paid-In Capital	$0
Retained Earnings	$204M
Treasury Stock	-$2M
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$298M
Minority Interest	$89.0K
TOTAL EQUITY	$298M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$168M
Net Debt	-$64M