PFBC Q3 2016 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

Q3 2016 Earnings

Reported September 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$33M	$31M	—	6.1%	—
Op. Income	$16M	$14M	—	11.5%	—
Gross Margin	79.4%	79.8%	—	-0.4pp	—
Net Margin	29.9%	27.6%	—	2.3pp	—
EPS (Diluted)	$0.69	$0.61	—	13.1%	—
Free Cash Flow	$14M	$19M	—	-27.4%	—

Revenue Flow

Item	Amount
REVENUE	$33M
Cost of Revenue	$7M
GROSS PROFIT	$26M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7M
SG&A Expenses	$7M
Other Expenses	$4M
Operating Expenses	$10M
Cost & Expenses	$17M
OPERATING INCOME	$16M
Interest Income	$32M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$6M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	-$2.0K
BOTTOM LINE NET INCOME	$10M
D&A	$231.0K
EBIT	$16M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$33M
Cost of Revenue	$7M
GROSS PROFIT	$26M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7M
SG&A Expenses	$7M
Other Expenses	$4M
Operating Expenses	$10M
Cost & Expenses	$17M
OPERATING INCOME	$16M
Interest Income	$32M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$6M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	-$2.0K
BOTTOM LINE NET INCOME	$10M
D&A	$231.0K
EBIT	$16M
EBITDA	$16M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$10M
Depreciation & Amortization	$231.0K
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$667.0K
Change in Working Capital	$1M
OPERATING CASH FLOW	$14M
Capital Expenditure	-$82.0K
Acquisitions (Net)	-$185.0K
Purchases of Investments	-$8M
Sales/Maturities of Investments	$6M
Other Investing Activities	-$162M
NET CASH FROM INVESTING	-$165M
Net Debt Issuance	$38M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$144M
NET CASH FROM FINANCING	$180M
FREE CASH FLOW	$14M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$326M
Short-Term Investments	$203M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$538M
PP&E (Net)	$5M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.4B
Tax Assets	$23M
Other Non-Current Assets	$109M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$3.1B
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.7B
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$125M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$25M
TOTAL NON-CURRENT LIABILITIES	$151M
TOTAL LIABILITIES	$2.8B
Common Stock	$168M
Additional Paid-In Capital	$39M
Retained Earnings	$101M
Treasury Stock	-$19M
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$291M
Minority Interest	$0
TOTAL EQUITY	$291M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$125M
Net Debt	-$200M