LKFN FY 2015 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2015 Earnings

Reported March 3, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$146M	—	$141M	—	3.7%
Op. Income	$69M	—	$66M	—	4.5%
Gross Margin	88.7%	—	89.4%	—	-0.7pp
Net Margin	31.7%	—	31.0%	—	0.6pp
EPS (Diluted)	$1.83	—	$1.74	—	5.2%
Free Cash Flow	$47M	—	$48M	—	-2.5%

Revenue Flow

Item	Amount
REVENUE	$146M
Cost of Revenue	$17M
GROSS PROFIT	$130M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$16M
Operating Expenses	$61M
Cost & Expenses	$77M
OPERATING INCOME	$69M
Interest Income	$123M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$69M
Income Tax Expense	$23M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$4M
EBIT	$69M
EBITDA	$74M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$146M
Cost of Revenue	$17M
GROSS PROFIT	$130M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$16M
Operating Expenses	$61M
Cost & Expenses	$77M
OPERATING INCOME	$69M
Interest Income	$123M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$69M
Income Tax Expense	$23M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$4M
EBIT	$69M
EBITDA	$74M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$46M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$500.0K
Change in Working Capital	$2M
OPERATING CASH FLOW	$56M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$92M
Sales/Maturities of Investments	$82M
Other Investing Activities	-$321M
NET CASH FROM INVESTING	-$339M
Net Debt Issuance	-$21M
Common Stock Repurchased	-$455.0K
Common Dividends Paid	-$16M
Other Financing Activities	$310M
NET CASH FROM FINANCING	$273M
FREE CASH FLOW	$47M
Net Change in Cash	-$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$81M
Short-Term Investments	$478M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$568M
PP&E (Net)	$47M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$3.0B
Tax Assets	$0
Other Non-Current Assets	$106M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$3.8B
Account Payables	$4M
Short-Term Debt	$140M
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$31M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$47M
TOTAL LIABILITIES	$3.4B
Common Stock	$99M
Additional Paid-In Capital	$0
Retained Earnings	$294M
Treasury Stock	-$2M
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$393M
Minority Interest	$89.0K
TOTAL EQUITY	$393M
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$171M
Net Debt	$90M