LKFN FY 2014 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2014 Earnings

Reported March 5, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$141M	—	$133M	—	6.3%
Op. Income	$66M	—	$58M	—	13.3%
Gross Margin	89.4%	—	87.0%	—	2.4pp
Net Margin	31.0%	—	29.2%	—	1.8pp
EPS (Diluted)	$1.74	—	$1.55	—	12.3%
Free Cash Flow	$48M	—	$55M	—	-13.8%

Revenue Flow

Item	Amount
REVENUE	$141M
Cost of Revenue	$15M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$16M
Operating Expenses	$60M
Cost & Expenses	$75M
OPERATING INCOME	$66M
Interest Income	$117M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$66M
Income Tax Expense	$22M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$4M
EBIT	$66M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$141M
Cost of Revenue	$15M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$16M
Operating Expenses	$60M
Cost & Expenses	$75M
OPERATING INCOME	$66M
Interest Income	$117M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$66M
Income Tax Expense	$22M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$4M
EBIT	$66M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$4M
Change in Working Capital	$13.0K
OPERATING CASH FLOW	$54M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$73M
Sales/Maturities of Investments	$72M
Other Investing Activities	-$230M
NET CASH FROM INVESTING	-$238M
Net Debt Issuance	-$101M
Common Stock Repurchased	-$444.0K
Common Dividends Paid	-$14M
Other Financing Activities	$327M
NET CASH FROM FINANCING	$212M
FREE CASH FLOW	$48M
Net Change in Cash	$28M

Balance Sheet

Item	Amount
Cash & Equivalents	$91M
Short-Term Investments	$476M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$575M
PP&E (Net)	$42M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$2.7B
Tax Assets	$0
Other Non-Current Assets	$103M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.4B
Account Payables	$3M
Short-Term Debt	$160M
Deferred Revenue	$0
Other Current Liabilities	$2.9B
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$31M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$45M
TOTAL LIABILITIES	$3.1B
Common Stock	$96M
Additional Paid-In Capital	$0
Retained Earnings	$263M
Treasury Stock	-$2M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$361M
Minority Interest	$89.0K
TOTAL EQUITY	$361M
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$191M
Net Debt	$101M