PGC FY 2010 Earnings Report — Peapack-Gladstone Financial Corporation Revenue & Financial Results | Market Cap Arena

Peapack-Gladstone Financial CorporationPGC

FY 2010 Earnings

Reported March 16, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$74M	—	$80M	—	-7.6%
Op. Income	$11M	—	$10M	—	7.0%
Gross Margin	71.5%	—	65.7%	—	5.8pp
Net Margin	10.4%	—	8.9%	—	1.5pp
EPS (Diluted)	$0.68	—	$0.64	—	6.3%
Free Cash Flow	$19M	—	$4M	—	333.8%

Revenue Flow

Item	Amount
REVENUE	$74M
Cost of Revenue	$21M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$691.0K
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$15M
Operating Expenses	$42M
Cost & Expenses	$63M
OPERATING INCOME	$11M
Interest Income	$61M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$11M
Income Tax Expense	$3M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$3M
EBIT	$11M
EBITDA	$14M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$74M
Cost of Revenue	$21M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$691.0K
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$15M
Operating Expenses	$42M
Cost & Expenses	$63M
OPERATING INCOME	$11M
Interest Income	$61M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$11M
Income Tax Expense	$3M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$3M
EBIT	$11M
EBITDA	$14M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$8M
Depreciation & Amortization	$3M
Stock-Based Compensation	$332.0K
Deferred Income Tax	-$2M
Other Non-Cash Items	$12M
Change in Working Capital	$1M
OPERATING CASH FLOW	$22M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$342M
Sales/Maturities of Investments	$288M
Other Investing Activities	$38M
NET CASH FROM INVESTING	-$19M
Net Debt Issuance	-$12M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$20M
FREE CASH FLOW	$19M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$63M
Short-Term Investments	$0
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$67M
PP&E (Net)	$34M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.3B
Tax Assets	$26M
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$24M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$30M
TOTAL LIABILITIES	$1.4B
Common Stock	$0
Additional Paid-In Capital	$103M
Retained Earnings	$5M
Treasury Stock	-$9M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$118M
Minority Interest	$0
TOTAL EQUITY	$118M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$30M
Net Debt	-$32M