MBCN FY 2016 Earnings Report — Middlefield Banc Corp. Revenue & Financial Results | Market Cap Arena

Middlefield Banc Corp.MBCN

FY 2016 Earnings

Reported March 15, 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	$34M	—	$33M	—	4.0%
Op. Income	$8M	—	$8M	—	-1.3%
Gross Margin	86.0%	—	87.3%	—	-1.4pp
Net Margin	18.9%	—	21.0%	—	-2.1pp
EPS (Diluted)	$1.52	—	$1.70	—	-10.6%
Free Cash Flow	$6M	—	$7M	—	-15.6%

Revenue Flow

Item	Amount
REVENUE	$34M
Cost of Revenue	$5M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$734.0K
General & Administrative	$12M
SG&A Expenses	$13M
Other Expenses	$8M
Operating Expenses	$21M
Cost & Expenses	$26M
OPERATING INCOME	$8M
Interest Income	$30M
Interest Expense	$4M
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	$1M
EBIT	$8M
EBITDA	$9M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$34M
Cost of Revenue	$5M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$734.0K
General & Administrative	$12M
SG&A Expenses	$13M
Other Expenses	$8M
Operating Expenses	$21M
Cost & Expenses	$26M
OPERATING INCOME	$8M
Interest Income	$30M
Interest Expense	$4M
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	$1M
EBIT	$8M
EBITDA	$9M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$6M
Depreciation & Amortization	$1M
Stock-Based Compensation	$29.0K
Deferred Income Tax	-$93.0K
Other Non-Cash Items	$422.0K
Change in Working Capital	-$39.0K
OPERATING CASH FLOW	$8M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$2M
Sales/Maturities of Investments	$32M
Other Investing Activities	-$74M
NET CASH FROM INVESTING	-$46M
Net Debt Issuance	$32M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$6M
NET CASH FROM FINANCING	$47M
FREE CASH FLOW	$6M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$31M
Short-Term Investments	$114M
Net Receivables	$2M
Inventory	-$4M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$148M
PP&E (Net)	$11M
Goodwill	$5M
Intangible Assets	$36.0K
Long-Term Investments	$603M
Tax Assets	$2M
Other Non-Current Assets	$19M
TOTAL NON-CURRENT ASSETS	$640M
TOTAL ASSETS	$786M
Account Payables	$395.0K
Short-Term Debt	$68M
Deferred Revenue	$0
Other Current Liabilities	$630M
TOTAL CURRENT LIABILITIES	$699M
Long-Term Debt	$9M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$11M
TOTAL LIABILITIES	$710M
Common Stock	$48M
Additional Paid-In Capital	$0
Retained Earnings	$41M
Treasury Stock	-$14M
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$77M
Minority Interest	$0
TOTAL EQUITY	$77M
TOTAL LIABILITIES & EQUITY	$786M
Total Debt	$78M
Net Debt	$46M