PERI FY 2014 Earnings Report — Perion Network Ltd. Revenue & Financial Results | Market Cap Arena

Perion Network Ltd.PERI

FY 2014 Earnings

Reported April 16, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$389M	—	$87M	—	346.1%
Op. Income	$55M	—	$4M	—	1325.1%
Gross Margin	47.9%	—	49.8%	—	-1.9pp
Net Margin	11.0%	—	0.4%	—	10.7pp
EPS (Diluted)	$2.01	—	$0.02	—	11723.5%
Free Cash Flow	$61M	—	$14M	—	349.8%

Revenue Flow

Item	Amount
REVENUE	$389M
Cost of Revenue	$202M
GROSS PROFIT	$186M
R&D Expenses	$44M
Selling & Marketing	$25M
General & Administrative	$38M
SG&A Expenses	$63M
Other Expenses	$0
Operating Expenses	$107M
Cost & Expenses	$310M
OPERATING INCOME	$55M
Interest Income	$45.0K
Interest Expense	$2M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$52M
Income Tax Expense	$10M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	-$6M
NET INCOME	$43M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$41M
D&A	$21M
EBIT	$54M
EBITDA	$76M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$389M
Cost of Revenue	$202M
GROSS PROFIT	$186M
R&D Expenses	$44M
Selling & Marketing	$25M
General & Administrative	$38M
SG&A Expenses	$63M
Other Expenses	$0
Operating Expenses	$107M
Cost & Expenses	$310M
OPERATING INCOME	$55M
Interest Income	$45.0K
Interest Expense	$2M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$52M
Income Tax Expense	$10M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	-$6M
NET INCOME	$43M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$41M
D&A	$21M
EBIT	$54M
EBITDA	$76M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$21M
Stock-Based Compensation	$15M
Deferred Income Tax	-$14M
Other Non-Cash Items	$24M
Change in Working Capital	-$18M
OPERATING CASH FLOW	$72M
Capital Expenditure	-$11M
Acquisitions (Net)	$19M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$15M
NET CASH FROM INVESTING	-$7M
Net Debt Issuance	$36M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$376.0K
NET CASH FROM FINANCING	$35M
FREE CASH FLOW	$61M
Net Change in Cash	$100M

Balance Sheet

Item	Amount
Cash & Equivalents	$101M
Short-Term Investments	$15M
Net Receivables	$31M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$159M
PP&E (Net)	$12M
Goodwill	$164M
Intangible Assets	$17M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$197M
TOTAL ASSETS	$356M
Account Payables	$21M
Short-Term Debt	$2M
Deferred Revenue	$7M
Other Current Liabilities	$10M
TOTAL CURRENT LIABILITIES	$66M
Long-Term Debt	$38M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$45M
TOTAL LIABILITIES	$110M
Common Stock	$189.0K
Additional Paid-In Capital	$204M
Retained Earnings	$43M
Treasury Stock	-$1M
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$246M
Minority Interest	$0
TOTAL EQUITY	$246M
TOTAL LIABILITIES & EQUITY	$356M
Total Debt	$38M
Net Debt	-$63M