PFBC FY 2016 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

FY 2016 Earnings

Reported December 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$128M	—	$99M	—	28.7%
Op. Income	$60M	—	$50M	—	18.9%
Gross Margin	80.3%	—	87.2%	—	-6.9pp
Net Margin	28.5%	—	30.0%	—	-1.5pp
EPS (Diluted)	$2.56	—	$2.14	—	19.6%
Free Cash Flow	$52M	—	$26M	—	98.8%

Revenue Flow

Item	Amount
REVENUE	$128M
Cost of Revenue	$25M
GROSS PROFIT	$102M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$15M
Operating Expenses	$43M
Cost & Expenses	$68M
OPERATING INCOME	$60M
Interest Income	$123M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$23M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	-$3.0K
BOTTOM LINE NET INCOME	$36M
D&A	$929.0K
EBIT	$60M
EBITDA	$61M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$128M
Cost of Revenue	$25M
GROSS PROFIT	$102M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$15M
Operating Expenses	$43M
Cost & Expenses	$68M
OPERATING INCOME	$60M
Interest Income	$123M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$23M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	-$3.0K
BOTTOM LINE NET INCOME	$36M
D&A	$929.0K
EBIT	$60M
EBITDA	$61M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$929.0K
Stock-Based Compensation	$2M
Deferred Income Tax	-$1M
Other Non-Cash Items	$7M
Change in Working Capital	$8M
OPERATING CASH FLOW	$53M
Capital Expenditure	-$641.0K
Acquisitions (Net)	$0
Purchases of Investments	-$67M
Sales/Maturities of Investments	$26M
Other Investing Activities	-$488M
NET CASH FROM INVESTING	-$530M
Net Debt Issuance	$101M
Common Stock Repurchased	$0
Common Dividends Paid	-$8M
Other Financing Activities	$480M
NET CASH FROM FINANCING	$572M
FREE CASH FLOW	$52M
Net Change in Cash	$95M

Balance Sheet

Item	Amount
Cash & Equivalents	$306M
Short-Term Investments	$200M
Net Receivables	$10M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$516M
PP&E (Net)	$5M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.5B
Tax Assets	$27M
Other Non-Current Assets	$125M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$3.2B
Account Payables	$3M
Short-Term Debt	$4M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$125M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$24M
TOTAL NON-CURRENT LIABILITIES	$149M
TOTAL LIABILITIES	$2.9B
Common Stock	$170M
Additional Paid-In Capital	$40M
Retained Earnings	$108M
Treasury Stock	-$19M
Accum. Other Comp. Income	-$871.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$298M
Minority Interest	$0
TOTAL EQUITY	$298M
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$130M
Net Debt	-$177M