PFBC FY 2014 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

FY 2014 Earnings

Reported December 30, 2014

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	$85M	—	$73M	—	16.6%
Op. Income	$41M	—	$31M	—	29.7%
Gross Margin	85.1%	—	84.9%	—	0.1pp
Net Margin	28.9%	—	26.3%	—	2.6pp
EPS (Diluted)	$1.78	—	$1.42	—	25.4%
Free Cash Flow	$41M	—	$30M	—	37.2%

Revenue Flow

Item	Amount
REVENUE	$85M
Cost of Revenue	$13M
GROSS PROFIT	$72M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$20M
SG&A Expenses	$20M
Other Expenses	$12M
Operating Expenses	$32M
Cost & Expenses	$44M
OPERATING INCOME	$41M
Interest Income	$80M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$16M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$484.0K
EBIT	$41M
EBITDA	$41M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$85M
Cost of Revenue	$13M
GROSS PROFIT	$72M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$20M
SG&A Expenses	$20M
Other Expenses	$12M
Operating Expenses	$32M
Cost & Expenses	$44M
OPERATING INCOME	$41M
Interest Income	$80M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$41M
Income Tax Expense	$16M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$484.0K
EBIT	$41M
EBITDA	$41M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$25M
Depreciation & Amortization	$484.0K
Stock-Based Compensation	$4M
Deferred Income Tax	$735.0K
Other Non-Cash Items	$3M
Change in Working Capital	$10M
OPERATING CASH FLOW	$42M
Capital Expenditure	-$442.0K
Acquisitions (Net)	$0
Purchases of Investments	-$50M
Sales/Maturities of Investments	$32M
Other Investing Activities	-$276M
NET CASH FROM INVESTING	-$294M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$1M
Other Financing Activities	$248M
NET CASH FROM FINANCING	$246M
FREE CASH FLOW	$41M
Net Change in Cash	-$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$215M
Short-Term Investments	$151M
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$372M
PP&E (Net)	$4M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.6B
Tax Assets	$21M
Other Non-Current Assets	$52M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.1B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$21M
TOTAL NON-CURRENT LIABILITIES	$41M
TOTAL LIABILITIES	$1.8B
Common Stock	$164M
Additional Paid-In Capital	$30M
Retained Earnings	$59M
Treasury Stock	-$19M
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$235M
Minority Interest	$0
TOTAL EQUITY	$235M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$20M
Net Debt	-$195M