MRBK FY 2018 Earnings Report — Meridian Corporation Revenue & Financial Results | Market Cap Arena

Meridian CorporationMRBK

FY 2018 Earnings

Reported April 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$74M	—	$68M	—	7.9%
Op. Income	$10M	—	$6M	—	81.3%
Gross Margin	82.4%	—	86.9%	—	-4.5pp
Net Margin	11.1%	—	4.4%	—	6.6pp
EPS (Diluted)	$0.64	—	$0.25	—	156.0%
Free Cash Flow	$9M	—	$8M	—	16.4%

Revenue Flow

Item	Amount
REVENUE	$74M
Cost of Revenue	$13M
GROSS PROFIT	$61M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$36M
SG&A Expenses	$38M
Other Expenses	$12M
Operating Expenses	$50M
Cost & Expenses	$63M
OPERATING INCOME	$10M
Interest Income	$44M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$2M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8M
D&A	$1M
EBIT	$10M
EBITDA	$12M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$74M
Cost of Revenue	$13M
GROSS PROFIT	$61M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$36M
SG&A Expenses	$38M
Other Expenses	$12M
Operating Expenses	$50M
Cost & Expenses	$63M
OPERATING INCOME	$10M
Interest Income	$44M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$2M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8M
D&A	$1M
EBIT	$10M
EBITDA	$12M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$8M
Depreciation & Amortization	$1M
Stock-Based Compensation	$293.0K
Deferred Income Tax	-$385.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$952.0K
OPERATING CASH FLOW	$11M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$17M
Sales/Maturities of Investments	$6M
Other Investing Activities	-$143M
NET CASH FROM INVESTING	-$156M
Net Debt Issuance	$8M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$125M
NET CASH FROM FINANCING	$133M
FREE CASH FLOW	$9M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$23M
Short-Term Investments	$52M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$80M
PP&E (Net)	$10M
Goodwill	$899.0K
Intangible Assets	$4M
Long-Term Investments	$877M
Tax Assets	$2M
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$918M
TOTAL ASSETS	$997M
Account Payables	$305.0K
Short-Term Debt	$119M
Deferred Revenue	$0
Other Current Liabilities	$752M
TOTAL CURRENT LIABILITIES	$872M
Long-Term Debt	$10M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$16M
TOTAL LIABILITIES	$888M
Common Stock	$6M
Additional Paid-In Capital	$80M
Retained Earnings	$24M
Treasury Stock	$0
Accum. Other Comp. Income	-$390.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$110M
Minority Interest	$0
TOTAL EQUITY	$110M
TOTAL LIABILITIES & EQUITY	$997M
Total Debt	$130M
Net Debt	$107M