ORRF FY 2017 Earnings Report — Orrstown Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Orrstown Financial Services, Inc.ORRF

FY 2017 Earnings

Reported March 9, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$71M	—	$61M	—	15.9%
Op. Income	$12M	—	$8M	—	57.4%
Gross Margin	87.8%	—	90.7%	—	-2.9pp
Net Margin	11.5%	—	10.9%	—	0.6pp
EPS (Diluted)	$0.98	—	$0.81	—	21.0%
Free Cash Flow	$14M	—	$2M	—	517.5%

Revenue Flow

Item	Amount
REVENUE	$71M
Cost of Revenue	$9M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$16M
Operating Expenses	$50M
Cost & Expenses	$58M
OPERATING INCOME	$12M
Interest Income	$51M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$4M
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	$3M
EBIT	$12M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$71M
Cost of Revenue	$9M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$16M
Operating Expenses	$50M
Cost & Expenses	$58M
OPERATING INCOME	$12M
Interest Income	$51M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$4M
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	$3M
EBIT	$12M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$8M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	$3M
Other Non-Cash Items	-$1M
Change in Working Capital	$2M
OPERATING CASH FLOW	$16M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$206M
Sales/Maturities of Investments	$191M
Other Investing Activities	-$129M
NET CASH FROM INVESTING	-$146M
Net Debt Issuance	$65M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$67M
NET CASH FROM FINANCING	$129M
FREE CASH FLOW	$14M
Net Change in Cash	-$466.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$30M
Short-Term Investments	$415M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$450M
PP&E (Net)	$35M
Goodwill	$719.0K
Intangible Assets	$356.0K
Long-Term Investments	$1.0B
Tax Assets	$0
Other Non-Current Assets	$69M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.6B
Account Payables	$17M
Short-Term Debt	$94M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$84M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$84M
TOTAL LIABILITIES	$1.4B
Common Stock	$435.0K
Additional Paid-In Capital	$125M
Retained Earnings	$16M
Treasury Stock	-$15.0K
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$145M
Minority Interest	$0
TOTAL EQUITY	$145M
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$177M
Net Debt	$148M