MRBK FY 2015 Earnings Report — Meridian Corporation Revenue & Financial Results | Market Cap Arena

Meridian CorporationMRBK

FY 2015 Earnings

Reported December 30, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$58M	—	$44M	—	32.2%
Op. Income	$9M	—	$14M	—	-34.2%
Gross Margin	89.7%	—	100.0%	—	-10.3pp
Net Margin	10.6%	—	9.7%	—	0.8pp
EPS (Diluted)	$1.08	—	$0.89	—	21.3%
Free Cash Flow	-$35M	—	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$58M
Cost of Revenue	$6M
GROSS PROFIT	$52M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$34M
SG&A Expenses	$35M
Other Expenses	$8M
Operating Expenses	$43M
Cost & Expenses	$49M
OPERATING INCOME	$9M
Interest Income	$28M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$9M
Income Tax Expense	$3M
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	$5M
D&A	$815.0K
EBIT	$9M
EBITDA	$10M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$58M
Cost of Revenue	$6M
GROSS PROFIT	$52M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$34M
SG&A Expenses	$35M
Other Expenses	$8M
Operating Expenses	$43M
Cost & Expenses	$49M
OPERATING INCOME	$9M
Interest Income	$28M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$9M
Income Tax Expense	$3M
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	$5M
D&A	$815.0K
EBIT	$9M
EBITDA	$10M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$6M
Depreciation & Amortization	$815.0K
Stock-Based Compensation	$39.0K
Deferred Income Tax	$215.0K
Other Non-Cash Items	-$38M
Change in Working Capital	-$3M
OPERATING CASH FLOW	-$34M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$24M
Sales/Maturities of Investments	$14M
Other Investing Activities	-$22M
NET CASH FROM INVESTING	-$34M
Net Debt Issuance	$47M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$28M
NET CASH FROM FINANCING	$76M
FREE CASH FLOW	-$35M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$24M
Net Receivables	$3M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$47M
PP&E (Net)	$6M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$593M
Tax Assets	$414.0K
Other Non-Current Assets	$17M
TOTAL NON-CURRENT ASSETS	$617M
TOTAL ASSETS	$663M
Account Payables	$159.0K
Short-Term Debt	$101M
Deferred Revenue	$0
Other Current Liabilities	$491M
TOTAL CURRENT LIABILITIES	$592M
Long-Term Debt	$13M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$18M
TOTAL LIABILITIES	$610M
Common Stock	$3M
Additional Paid-In Capital	$24M
Retained Earnings	$13M
Treasury Stock	$0
Accum. Other Comp. Income	-$80.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$53M
Minority Interest	$0
TOTAL EQUITY	$53M
TOTAL LIABILITIES & EQUITY	$663M
Total Debt	$115M
Net Debt	$96M