LKFN FY 2016 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$164M	—	$146M	—	11.8%
Op. Income	$77M	—	$69M	—	11.6%
Gross Margin	86.8%	—	88.7%	—	-1.9pp
Net Margin	31.8%	—	31.7%	—	0.2pp
EPS (Diluted)	$2.05	—	$1.83	—	12.0%
Free Cash Flow	$52M	—	$47M	—	12.4%

Revenue Flow

Item	Amount
REVENUE	$164M
Cost of Revenue	$22M
GROSS PROFIT	$142M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$18M
Operating Expenses	$65M
Cost & Expenses	$86M
OPERATING INCOME	$77M
Interest Income	$139M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$25M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$5M
EBIT	$77M
EBITDA	$82M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$164M
Cost of Revenue	$22M
GROSS PROFIT	$142M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$18M
Operating Expenses	$65M
Cost & Expenses	$86M
OPERATING INCOME	$77M
Interest Income	$139M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$25M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$5M
EBIT	$77M
EBITDA	$82M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$5M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$1M
Change in Working Capital	$2M
OPERATING CASH FLOW	$62M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$116M
Sales/Maturities of Investments	$81M
Other Investing Activities	-$398M
NET CASH FROM INVESTING	-$442M
Net Debt Issuance	$90M
Common Stock Repurchased	-$458.0K
Common Dividends Paid	-$18M
Other Financing Activities	$395M
NET CASH FROM FINANCING	$467M
FREE CASH FLOW	$52M
Net Change in Cash	$87M

Balance Sheet

Item	Amount
Cash & Equivalents	$167M
Short-Term Investments	$504M
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$683M
PP&E (Net)	$52M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$3.4B
Tax Assets	$0
Other Non-Current Assets	$117M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.3B
Account Payables	$6M
Short-Term Debt	$230M
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$211M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$162M
TOTAL NON-CURRENT LIABILITIES	$49M
TOTAL LIABILITIES	$3.9B
Common Stock	$104M
Additional Paid-In Capital	$0
Retained Earnings	$328M
Treasury Stock	-$3M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$427M
Minority Interest	$89.0K
TOTAL EQUITY	$427M
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$441M
Net Debt	$274M