MPV FY 2014 Earnings Report — Barings Participation Investors Revenue & Financial Results | Market Cap Arena

Barings Participation InvestorsMPV

FY 2014 Earnings

Reported December 30, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$13M	—	$13M	—	3.9%
Op. Income	$11M	—	$11M	—	4.1%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	123.9%	—	107.3%	—	16.6pp
EPS (Diluted)	$1.60	—	$1.34	—	19.4%
Free Cash Flow	$7M	—	$17M	—	-60.1%

Revenue Flow

Item	Amount
REVENUE	$13M
Cost of Revenue	$0
GROSS PROFIT	$13M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2M
SG&A Expenses	$2M
Other Expenses	$0
Operating Expenses	$4M
Cost & Expenses	$4M
OPERATING INCOME	$11M
Interest Income	$613.5K
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$17M
Income Tax Expense	$0
Net Income from Continuing Ops	$17M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$17M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17M
D&A	-$11M
EBIT	$11M
EBITDA	$0
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$13M
Cost of Revenue	$0
GROSS PROFIT	$13M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2M
SG&A Expenses	$2M
Other Expenses	$0
Operating Expenses	$4M
Cost & Expenses	$4M
OPERATING INCOME	$11M
Interest Income	$613.5K
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$17M
Income Tax Expense	$0
Net Income from Continuing Ops	$17M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$17M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17M
D&A	-$11M
EBIT	$11M
EBITDA	$0
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$17M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$682.4K
Change in Working Capital	-$10M
OPERATING CASH FLOW	$7M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	$751.9K
NET CASH FROM FINANCING	-$10M
FREE CASH FLOW	$7M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$1M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$48M
Tax Assets	$0
Other Non-Current Assets	$102M
TOTAL NON-CURRENT ASSETS	$150M
TOTAL ASSETS	$158M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$5M
Long-Term Debt	$15M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$409.6K
TOTAL NON-CURRENT LIABILITIES	$15M
TOTAL LIABILITIES	$20M
Common Stock	$103.0K
Additional Paid-In Capital	$98M
Retained Earnings	$40M
Treasury Stock	$0
Accum. Other Comp. Income	-$36.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$138M
Minority Interest	$0
TOTAL EQUITY	$138M
TOTAL LIABILITIES & EQUITY	$158M
Total Debt	$15M
Net Debt	$9M