SBCF FY 2014 Earnings Report — Seacoast Banking Corporation of Florida Revenue & Financial Results | Market Cap Arena

Seacoast Banking Corporation of FloridaSBCF

FY 2014 Earnings

Reported March 16, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$105M	—	$94M	—	11.6%
Op. Income	$10M	—	$12M	—	-11.8%
Gross Margin	98.2%	—	90.7%	—	7.5pp
Net Margin	5.4%	—	55.2%	—	-49.8pp
EPS (Diluted)	$0.21	—	$2.44	—	-91.4%
Free Cash Flow	$16M	—	$47M	—	-66.3%

Revenue Flow

Item	Amount
REVENUE	$105M
Cost of Revenue	$2M
GROSS PROFIT	$103M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$56M
SG&A Expenses	$59M
Other Expenses	$34M
Operating Expenses	$93M
Cost & Expenses	$95M
OPERATING INCOME	$10M
Interest Income	$80M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$5M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$3M
EBIT	$10M
EBITDA	$13M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$105M
Cost of Revenue	$2M
GROSS PROFIT	$103M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$56M
SG&A Expenses	$59M
Other Expenses	$34M
Operating Expenses	$93M
Cost & Expenses	$95M
OPERATING INCOME	$10M
Interest Income	$80M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$5M
Net Income from Continuing Ops	$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6M
D&A	$3M
EBIT	$10M
EBITDA	$13M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$6M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	$4M
Other Non-Cash Items	$5M
Change in Working Capital	$3M
OPERATING CASH FLOW	$22M
Capital Expenditure	-$6M
Acquisitions (Net)	$111M
Purchases of Investments	-$345M
Sales/Maturities of Investments	$130M
Other Investing Activities	-$185M
NET CASH FROM INVESTING	-$295M
Net Debt Issuance	$80M
Common Stock Repurchased	$0
Common Dividends Paid	-$24.0K
Other Financing Activities	$77M
NET CASH FROM FINANCING	$182M
FREE CASH FLOW	$16M
Net Change in Cash	-$91M

Balance Sheet

Item	Amount
Cash & Equivalents	$101M
Short-Term Investments	$741M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$842M
PP&E (Net)	$45M
Goodwill	$25M
Intangible Assets	$7M
Long-Term Investments	$2.0B
Tax Assets	$67M
Other Non-Current Assets	$82M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$3.1B
Account Payables	$0
Short-Term Debt	$234M
Deferred Revenue	$0
Other Current Liabilities	$2.4B
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$115M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$131M
TOTAL LIABILITIES	$2.8B
Common Stock	$3M
Additional Paid-In Capital	$379M
Retained Earnings	-$65M
Treasury Stock	-$71.0K
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$313M
Minority Interest	$0
TOTAL EQUITY	$313M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$348M
Net Debt	$248M