PFBC FY 2018 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

FY 2018 Earnings

Reported December 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$204M	—	$163M	—	25.2%
Op. Income	$99M	—	$80M	—	22.6%
Gross Margin	75.0%	—	79.5%	—	-4.5pp
Net Margin	34.8%	—	26.6%	—	8.2pp
EPS (Diluted)	$4.64	—	$2.96	—	56.8%
Free Cash Flow	$96M	—	$52M	—	85.7%

Revenue Flow

Item	Amount
REVENUE	$204M
Cost of Revenue	$51M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$37M
SG&A Expenses	$37M
Other Expenses	$17M
Operating Expenses	$54M
Cost & Expenses	$105M
OPERATING INCOME	$99M
Interest Income	$195M
Interest Expense	$41M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$28M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$953.0K
EBIT	$99M
EBITDA	$100M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$204M
Cost of Revenue	$51M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$37M
SG&A Expenses	$37M
Other Expenses	$17M
Operating Expenses	$54M
Cost & Expenses	$105M
OPERATING INCOME	$99M
Interest Income	$195M
Interest Expense	$41M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$28M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$953.0K
EBIT	$99M
EBITDA	$100M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$71M
Depreciation & Amortization	$953.0K
Stock-Based Compensation	$8M
Deferred Income Tax	-$934.0K
Other Non-Cash Items	$12M
Change in Working Capital	$8M
OPERATING CASH FLOW	$99M
Capital Expenditure	-$3M
Acquisitions (Net)	-$14M
Purchases of Investments	-$29M
Sales/Maturities of Investments	$16M
Other Investing Activities	-$380M
NET CASH FROM INVESTING	-$409M
Net Debt Issuance	-$5M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$16M
Other Financing Activities	$378M
NET CASH FROM FINANCING	$358M
FREE CASH FLOW	$96M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$527M
Short-Term Investments	$182M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$723M
PP&E (Net)	$7M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.4B
Tax Assets	$20M
Other Non-Current Assets	$114M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$4.2B
Account Payables	$7M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$53M
TOTAL NON-CURRENT LIABILITIES	$153M
TOTAL LIABILITIES	$3.8B
Common Stock	$211M
Additional Paid-In Capital	$47M
Retained Earnings	$195M
Treasury Stock	-$35M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$417M
Minority Interest	$0
TOTAL EQUITY	$417M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$100M
Net Debt	-$426M