RLI FY 2017 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$801M	—	$818M	—	-2.1%
Op. Income	$85M	—	$157M	—	-46.1%
Gross Margin	24.4%	—	33.5%	—	-9.0pp
Net Margin	13.1%	—	14.1%	—	-0.9pp
EPS (Diluted)	$1.18	—	$1.29	—	-8.9%
Free Cash Flow	$188M	—	$158M	—	18.9%

Revenue Flow

Item	Amount
REVENUE	$801M
Cost of Revenue	$605M
GROSS PROFIT	$196M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$100M
Operating Expenses	$111M
Cost & Expenses	$716M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	-$20M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$7M
EBIT	$92M
EBITDA	$99M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$801M
Cost of Revenue	$605M
GROSS PROFIT	$196M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$100M
Operating Expenses	$111M
Cost & Expenses	$716M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	-$20M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$7M
EBIT	$92M
EBITDA	$99M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$105M
Depreciation & Amortization	$7M
Stock-Based Compensation	$5M
Deferred Income Tax	$0
Other Non-Cash Items	-$25M
Change in Working Capital	$106M
OPERATING CASH FLOW	$198M
Capital Expenditure	-$9M
Acquisitions (Net)	$408.0K
Purchases of Investments	-$456M
Sales/Maturities of Investments	$401M
Other Investing Activities	-$17M
NET CASH FROM INVESTING	-$81M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$114M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$110M
FREE CASH FLOW	$188M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$34M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$2.1B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$56M
Goodwill	$50M
Intangible Assets	$10M
Long-Term Investments	$2.2B
Tax Assets	$54M
Other Non-Current Assets	-$1.5B
TOTAL NON-CURRENT ASSETS	$806M
TOTAL ASSETS	$2.9B
Account Payables	$22M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$74M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$54M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$149M
TOTAL LIABILITIES	$2.1B
Common Stock	$67M
Additional Paid-In Capital	$233M
Retained Earnings	$789M
Treasury Stock	-$402M
Accum. Other Comp. Income	$158M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$854M
Minority Interest	$0
TOTAL EQUITY	$854M
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$149M
Net Debt	$115M