SBSI FY 2014 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2014 Earnings

Reported March 12, 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	$147M	—	$154M	—	-4.3%
Op. Income	$19M	—	$46M	—	-59.7%
Gross Margin	78.3%	—	82.5%	—	-4.2pp
Net Margin	14.2%	—	26.8%	—	-12.7pp
EPS (Diluted)	$0.97	—	$1.94	—	-50.0%
Free Cash Flow	$51M	—	$54M	—	-5.5%

Revenue Flow

Item	Amount
REVENUE	$147M
Cost of Revenue	$32M
GROSS PROFIT	$115M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$68M
SG&A Expenses	$71M
Other Expenses	$26M
Operating Expenses	$96M
Cost & Expenses	$128M
OPERATING INCOME	$19M
Interest Income	$124M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$19M
Income Tax Expense	-$2M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$3M
EBIT	$19M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$147M
Cost of Revenue	$32M
GROSS PROFIT	$115M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$68M
SG&A Expenses	$71M
Other Expenses	$26M
Operating Expenses	$96M
Cost & Expenses	$128M
OPERATING INCOME	$19M
Interest Income	$124M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$19M
Income Tax Expense	-$2M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$3M
EBIT	$19M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$21M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	-$925.0K
Other Non-Cash Items	$30M
Change in Working Capital	$1M
OPERATING CASH FLOW	$56M
Capital Expenditure	-$5M
Acquisitions (Net)	-$127M
Purchases of Investments	-$803M
Sales/Maturities of Investments	$944M
Other Investing Activities	-$76M
NET CASH FROM INVESTING	-$67M
Net Debt Issuance	$11M
Common Stock Repurchased	$0
Common Dividends Paid	-$18M
Other Financing Activities	$47M
NET CASH FROM FINANCING	$41M
FREE CASH FLOW	$51M
Net Change in Cash	$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$85M
Short-Term Investments	$307M
Net Receivables	$22M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$414M
PP&E (Net)	$113M
Goodwill	$91M
Intangible Assets	$9M
Long-Term Investments	$4.0B
Tax Assets	$13M
Other Non-Current Assets	$209M
TOTAL NON-CURRENT ASSETS	$4.4B
TOTAL ASSETS	$4.8B
Account Payables	$0
Short-Term Debt	$302M
Deferred Revenue	$0
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$3.7B
Long-Term Debt	$660M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$706M
TOTAL LIABILITIES	$4.4B
Common Stock	$33M
Additional Paid-In Capital	$390M
Retained Earnings	$55M
Treasury Stock	-$38M
Accum. Other Comp. Income	-$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$425M
Minority Interest	$0
TOTAL EQUITY	$425M
TOTAL LIABILITIES & EQUITY	$4.8B
Total Debt	$958M
Net Debt	$873M