ORRF FY 2021 Earnings Report — Orrstown Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Orrstown Financial Services, Inc.ORRF

FY 2021 Earnings

Reported March 11, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$122M	—	$127M	—	-4.1%
Op. Income	$41M	—	$33M	—	25.8%
Gross Margin	93.6%	—	83.2%	—	10.4pp
Net Margin	27.0%	—	20.9%	—	6.2pp
EPS (Diluted)	$2.96	—	$2.40	—	23.3%
Free Cash Flow	$40M	—	$29M	—	37.0%

Revenue Flow

Item	Amount
REVENUE	$122M
Cost of Revenue	$8M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$46M
SG&A Expenses	$48M
Other Expenses	$25M
Operating Expenses	$73M
Cost & Expenses	$81M
OPERATING INCOME	$41M
Interest Income	$94M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$8M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$5M
EBIT	$41M
EBITDA	$46M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$122M
Cost of Revenue	$8M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$46M
SG&A Expenses	$48M
Other Expenses	$25M
Operating Expenses	$73M
Cost & Expenses	$81M
OPERATING INCOME	$41M
Interest Income	$94M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$8M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$5M
EBIT	$41M
EBITDA	$46M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$5M
Stock-Based Compensation	$2M
Deferred Income Tax	$942.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$41M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$195M
Sales/Maturities of Investments	$189M
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	-$52M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$8M
Other Financing Activities	$108M
NET CASH FROM FINANCING	$45M
FREE CASH FLOW	$40M
Net Change in Cash	$83M

Balance Sheet

Item	Amount
Cash & Equivalents	$209M
Short-Term Investments	$472M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$689M
PP&E (Net)	$34M
Goodwill	$19M
Intangible Assets	$4M
Long-Term Investments	$2.0B
Tax Assets	$12M
Other Non-Current Assets	$109M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$2.8B
Account Payables	$0
Short-Term Debt	$23M
Deferred Revenue	$0
Other Current Liabilities	$2.5B
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$34M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$75M
TOTAL LIABILITIES	$2.6B
Common Stock	$586.0K
Additional Paid-In Capital	$190M
Retained Earnings	$79M
Treasury Stock	-$2M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$272M
Minority Interest	$0
TOTAL EQUITY	$272M
TOTAL LIABILITIES & EQUITY	$2.8B
Total Debt	$57M
Net Debt	-$152M