MBCN FY 2012 Earnings Report — Middlefield Banc Corp. Revenue & Financial Results | Market Cap Arena

Middlefield Banc Corp.MBCN

FY 2012 Earnings

Reported March 13, 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	$32M	—	$32M	—	-0.2%
Op. Income	$8M	—	$5M	—	68.1%
Gross Margin	72.8%	—	63.1%	—	9.8pp
Net Margin	19.8%	—	13.0%	—	6.8pp
EPS (Diluted)	$1.64	—	$1.23	—	33.3%
Free Cash Flow	$9M	—	$9M	—	8.4%

Revenue Flow

Item	Amount
REVENUE	$32M
Cost of Revenue	$9M
GROSS PROFIT	$23M
R&D Expenses	$0
Selling & Marketing	$423.0K
General & Administrative	$9M
SG&A Expenses	$9M
Other Expenses	$6M
Operating Expenses	$15M
Cost & Expenses	$24M
OPERATING INCOME	$8M
Interest Income	$29M
Interest Expense	$6M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$929.0K
EBIT	$8M
EBITDA	$9M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$32M
Cost of Revenue	$9M
GROSS PROFIT	$23M
R&D Expenses	$0
Selling & Marketing	$423.0K
General & Administrative	$9M
SG&A Expenses	$9M
Other Expenses	$6M
Operating Expenses	$15M
Cost & Expenses	$24M
OPERATING INCOME	$8M
Interest Income	$29M
Interest Expense	$6M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$929.0K
EBIT	$8M
EBITDA	$9M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$6M
Depreciation & Amortization	$929.0K
Stock-Based Compensation	$32.0K
Deferred Income Tax	$2.0K
Other Non-Cash Items	$3M
Change in Working Capital	$404.0K
OPERATING CASH FLOW	$10M
Capital Expenditure	-$997.0K
Acquisitions (Net)	$0
Purchases of Investments	-$83M
Sales/Maturities of Investments	$84M
Other Investing Activities	-$7M
NET CASH FROM INVESTING	-$8M
Net Debt Issuance	-$5M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$13M
NET CASH FROM FINANCING	$9M
FREE CASH FLOW	$9M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$34M
Short-Term Investments	$194M
Net Receivables	$8M
Inventory	-$195.0K
Other Current Assets	$0
TOTAL CURRENT ASSETS	$236M
PP&E (Net)	$9M
Goodwill	$5M
Intangible Assets	$195.0K
Long-Term Investments	$401M
Tax Assets	$0
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$434M
TOTAL ASSETS	$670M
Account Payables	$492.0K
Short-Term Debt	$7M
Deferred Revenue	$0
Other Current Liabilities	$593M
TOTAL CURRENT LIABILITIES	$600M
Long-Term Debt	$13M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$14M
TOTAL LIABILITIES	$615M
Common Stock	$34M
Additional Paid-In Capital	$0
Retained Earnings	$22M
Treasury Stock	-$7M
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$55M
Minority Interest	$0
TOTAL EQUITY	$55M
TOTAL LIABILITIES & EQUITY	$670M
Total Debt	$20M
Net Debt	-$14M