MBCN FY 2017 Earnings Report — Middlefield Banc Corp. Revenue & Financial Results | Market Cap Arena

Middlefield Banc Corp.MBCN

FY 2017 Earnings

Reported March 7, 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	$49M	—	$34M	—	43.9%
Op. Income	$14M	—	$8M	—	64.4%
Gross Margin	84.3%	—	86.0%	—	-1.7pp
Net Margin	19.4%	—	18.9%	—	0.5pp
EPS (Diluted)	$1.55	—	$1.52	—	2.0%
Free Cash Flow	$13M	—	$6M	—	125.7%

Revenue Flow

Item	Amount
REVENUE	$49M
Cost of Revenue	$8M
GROSS PROFIT	$41M
R&D Expenses	$0
Selling & Marketing	$821.0K
General & Administrative	$16M
SG&A Expenses	$17M
Other Expenses	$11M
Operating Expenses	$27M
Cost & Expenses	$35M
OPERATING INCOME	$14M
Interest Income	$44M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$4M
Net Income from Continuing Ops	$9M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9M
D&A	$2M
EBIT	$14M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$49M
Cost of Revenue	$8M
GROSS PROFIT	$41M
R&D Expenses	$0
Selling & Marketing	$821.0K
General & Administrative	$16M
SG&A Expenses	$17M
Other Expenses	$11M
Operating Expenses	$27M
Cost & Expenses	$35M
OPERATING INCOME	$14M
Interest Income	$44M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$4M
Net Income from Continuing Ops	$9M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9M
D&A	$2M
EBIT	$14M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$9M
Depreciation & Amortization	$2M
Stock-Based Compensation	$33.0K
Deferred Income Tax	$293.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$286.0K
OPERATING CASH FLOW	$14M
Capital Expenditure	-$1M
Acquisitions (Net)	$5M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$21M
Other Investing Activities	-$118M
NET CASH FROM INVESTING	-$95M
Net Debt Issuance	$26M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$51M
NET CASH FROM FINANCING	$89M
FREE CASH FLOW	$13M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$40M
Short-Term Investments	$95M
Net Receivables	$3M
Inventory	-$6M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$138M
PP&E (Net)	$12M
Goodwill	$15M
Intangible Assets	$3M
Long-Term Investments	$916M
Tax Assets	$647.0K
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$968M
TOTAL ASSETS	$1.1B
Account Payables	$578.0K
Short-Term Debt	$75M
Deferred Revenue	$0
Other Current Liabilities	$878M
TOTAL CURRENT LIABILITIES	$956M
Long-Term Debt	$29M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$31M
TOTAL LIABILITIES	$986M
Common Stock	$85M
Additional Paid-In Capital	$0
Retained Earnings	$47M
Treasury Stock	-$14M
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$120M
Minority Interest	$0
TOTAL EQUITY	$120M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$104M
Net Debt	$64M