LKFN FY 2017 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2017 Earnings

Reported March 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$194M	—	$164M	—	18.2%
Op. Income	$90M	—	$77M	—	16.1%
Gross Margin	83.0%	—	86.8%	—	-3.7pp
Net Margin	29.6%	—	31.8%	—	-2.2pp
EPS (Diluted)	$2.23	—	$2.05	—	8.8%
Free Cash Flow	$68M	—	$52M	—	29.2%

Revenue Flow

Item	Amount
REVENUE	$194M
Cost of Revenue	$33M
GROSS PROFIT	$161M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$52M
SG&A Expenses	$52M
Other Expenses	$19M
Operating Expenses	$71M
Cost & Expenses	$104M
OPERATING INCOME	$90M
Interest Income	$166M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$32M
Net Income from Continuing Ops	$57M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$57M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$6M
EBIT	$90M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$194M
Cost of Revenue	$33M
GROSS PROFIT	$161M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$52M
SG&A Expenses	$52M
Other Expenses	$19M
Operating Expenses	$71M
Cost & Expenses	$104M
OPERATING INCOME	$90M
Interest Income	$166M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$32M
Net Income from Continuing Ops	$57M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$57M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$6M
EBIT	$90M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$57M
Depreciation & Amortization	$6M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	$5M
Change in Working Capital	$3M
OPERATING CASH FLOW	$77M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$139M
Sales/Maturities of Investments	$103M
Other Investing Activities	-$350M
NET CASH FROM INVESTING	-$396M
Net Debt Issuance	-$79M
Common Stock Repurchased	-$495.0K
Common Dividends Paid	-$21M
Other Financing Activities	$429M
NET CASH FROM FINANCING	$328M
FREE CASH FLOW	$68M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$176M
Short-Term Investments	$538M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$729M
PP&E (Net)	$56M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$3.8B
Tax Assets	$0
Other Non-Current Assets	$118M
TOTAL NON-CURRENT ASSETS	$4.0B
TOTAL ASSETS	$4.7B
Account Payables	$6M
Short-Term Debt	$151M
Deferred Revenue	$0
Other Current Liabilities	$4.0B
TOTAL CURRENT LIABILITIES	$4.2B
Long-Term Debt	$31M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$49M
TOTAL LIABILITIES	$4.2B
Common Stock	$109M
Additional Paid-In Capital	$0
Retained Earnings	$364M
Treasury Stock	-$3M
Accum. Other Comp. Income	-$670.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$469M
Minority Interest	$89.0K
TOTAL EQUITY	$469M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$182M
Net Debt	$5M