NTB FY 2015 Earnings Report — The Bank of N.T. Butterfield & Son Limited Revenue & Financial Results | Market Cap Arena

The Bank of N.T. Butterfield & Son LimitedNTB

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	$374M	—	$390M	—	-4.0%
Op. Income	$102M	—	$135M	—	-24.0%
Gross Margin	99.9%	—	99.9%	—	0.0pp
Net Margin	20.8%	—	27.7%	—	-7.0pp
EPS (Diluted)	$1.29	—	$1.93	—	-33.2%
Free Cash Flow	$154M	—	$138M	—	11.9%

Revenue Flow

Item	Amount
REVENUE	$374M
Cost of Revenue	$338.0K
GROSS PROFIT	$374M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$192M
SG&A Expenses	$196M
Other Expenses	$338.0K
Operating Expenses	$196M
Cost & Expenses	$197M
OPERATING INCOME	$102M
Interest Income	$263M
Interest Expense	$23M
Other Income/Expenses	-$55M
INCOME BEFORE TAX	$79M
Income Tax Expense	$1M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$50M
EBIT	$84M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$374M
Cost of Revenue	$338.0K
GROSS PROFIT	$374M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$192M
SG&A Expenses	$196M
Other Expenses	$338.0K
Operating Expenses	$196M
Cost & Expenses	$197M
OPERATING INCOME	$102M
Interest Income	$263M
Interest Expense	$23M
Other Income/Expenses	-$55M
INCOME BEFORE TAX	$79M
Income Tax Expense	$1M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$50M
EBIT	$84M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$78M
Depreciation & Amortization	$50M
Stock-Based Compensation	$8M
Deferred Income Tax	$14M
Other Non-Cash Items	-$420.0K
Change in Working Capital	$6M
OPERATING CASH FLOW	$156M
Capital Expenditure	-$1M
Acquisitions (Net)	-$37M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$799M
Other Investing Activities	$11M
NET CASH FROM INVESTING	-$326M
Net Debt Issuance	$0
Common Stock Repurchased	-$131M
Common Dividends Paid	-$25M
Other Financing Activities	$597M
NET CASH FROM FINANCING	$427M
FREE CASH FLOW	$154M
Net Change in Cash	$226M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$2.6B
Net Receivables	$17M
Inventory	$0
Other Current Assets	$1.5B
TOTAL CURRENT ASSETS	$6.4B
PP&E (Net)	$183M
Goodwill	$23M
Intangible Assets	$28M
Long-Term Investments	$3.6B
Tax Assets	-$7.6B
Other Non-Current Assets	$7.6B
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$10.3B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$654.0K
TOTAL CURRENT LIABILITIES	$3M
Long-Term Debt	$117M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$117M
TOTAL LIABILITIES	$9.5B
Common Stock	$473.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	-$369M
Treasury Stock	-$16M
Accum. Other Comp. Income	-$90M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$750M
Minority Interest	$0
TOTAL EQUITY	$750M
TOTAL LIABILITIES & EQUITY	$10.3B
Total Debt	$117M
Net Debt	-$2.2B