SFBS FY 2013 Earnings Report — ServisFirst Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

ServisFirst Bancshares, Inc.SFBS

FY 2013 Earnings

Reported March 7, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$134M	—	$116M	—	15.7%
Op. Income	$62M	—	$52M	—	20.2%
Gross Margin	80.1%	—	79.2%	—	0.9pp
Net Margin	31.1%	—	29.8%	—	1.3pp
EPS (Diluted)	$0.84	—	$0.69	—	21.7%
Free Cash Flow	$73M	—	$36M	—	104.0%

Revenue Flow

Item	Amount
REVENUE	$134M
Cost of Revenue	$27M
GROSS PROFIT	$107M
R&D Expenses	$0
Selling & Marketing	$532.0K
General & Administrative	$28M
SG&A Expenses	$29M
Other Expenses	$16M
Operating Expenses	$45M
Cost & Expenses	$72M
OPERATING INCOME	$62M
Interest Income	$126M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$20M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	-$115.0K
BOTTOM LINE NET INCOME	$41M
D&A	$2M
EBIT	$62M
EBITDA	$64M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$134M
Cost of Revenue	$27M
GROSS PROFIT	$107M
R&D Expenses	$0
Selling & Marketing	$532.0K
General & Administrative	$28M
SG&A Expenses	$29M
Other Expenses	$16M
Operating Expenses	$45M
Cost & Expenses	$72M
OPERATING INCOME	$62M
Interest Income	$126M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$20M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	-$115.0K
BOTTOM LINE NET INCOME	$41M
D&A	$2M
EBIT	$62M
EBITDA	$64M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$42M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	-$2M
Other Non-Cash Items	$35M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$74M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$102M
Sales/Maturities of Investments	$50M
Other Investing Activities	-$518M
NET CASH FROM INVESTING	-$572M
Net Debt Issuance	$57M
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$512M
NET CASH FROM FINANCING	$575M
FREE CASH FLOW	$73M
Net Change in Cash	$78M

Balance Sheet

Item	Amount
Cash & Equivalents	$250M
Short-Term Investments	$266M
Net Receivables	$10M
Inventory	$0
Other Current Assets	-$492.0K
TOTAL CURRENT ASSETS	$526M
PP&E (Net)	$8M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.9B
Tax Assets	$11M
Other Non-Current Assets	$107M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$3.5B
Account Payables	$769.0K
Short-Term Debt	$174M
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$29M
TOTAL LIABILITIES	$3.2B
Common Stock	$7.0K
Additional Paid-In Capital	$123M
Retained Earnings	$130M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$297M
Minority Interest	$0
TOTAL EQUITY	$297M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$194M
Net Debt	-$55M