MRBK FY 2019 Earnings Report — Meridian Corporation Revenue & Financial Results | Market Cap Arena

Meridian CorporationMRBK

FY 2019 Earnings

Reported March 30, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$86M	—	$74M	—	16.2%
Op. Income	$14M	—	$10M	—	28.8%
Gross Margin	79.7%	—	82.4%	—	-2.7pp
Net Margin	12.2%	—	11.1%	—	1.2pp
EPS (Diluted)	$0.82	—	$0.64	—	28.1%
Free Cash Flow	$21M	—	$9M	—	121.7%

Revenue Flow

Item	Amount
REVENUE	$86M
Cost of Revenue	$17M
GROSS PROFIT	$68M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$35M
SG&A Expenses	$38M
Other Expenses	$17M
Operating Expenses	$55M
Cost & Expenses	$72M
OPERATING INCOME	$14M
Interest Income	$53M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$3M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$867.0K
EBIT	$14M
EBITDA	$14M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$86M
Cost of Revenue	$17M
GROSS PROFIT	$68M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$35M
SG&A Expenses	$38M
Other Expenses	$17M
Operating Expenses	$55M
Cost & Expenses	$72M
OPERATING INCOME	$14M
Interest Income	$53M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$14M
Income Tax Expense	$3M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$867.0K
EBIT	$14M
EBITDA	$14M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$10M
Depreciation & Amortization	$867.0K
Stock-Based Compensation	$272.0K
Deferred Income Tax	-$503.0K
Other Non-Cash Items	$7M
Change in Working Capital	$3M
OPERATING CASH FLOW	$22M
Capital Expenditure	-$746.0K
Acquisitions (Net)	$0
Purchases of Investments	-$45M
Sales/Maturities of Investments	$39M
Other Investing Activities	-$136M
NET CASH FROM INVESTING	-$143M
Net Debt Issuance	$39M
Common Stock Repurchased	-$3.0K
Common Dividends Paid	$0
Other Financing Activities	$98M
NET CASH FROM FINANCING	$137M
FREE CASH FLOW	$21M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$59M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$82M
PP&E (Net)	$9M
Goodwill	$899.0K
Intangible Assets	$4M
Long-Term Investments	$998M
Tax Assets	$2M
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.2B
Account Payables	$1M
Short-Term Debt	$127M
Deferred Revenue	$0
Other Current Liabilities	$851M
TOTAL CURRENT LIABILITIES	$979M
Long-Term Debt	$41M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$50M
TOTAL LIABILITIES	$1.0B
Common Stock	$6M
Additional Paid-In Capital	$80M
Retained Earnings	$34M
Treasury Stock	-$3.0K
Accum. Other Comp. Income	-$3.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$121M
Minority Interest	$0
TOTAL EQUITY	$121M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$168M
Net Debt	$149M