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

ServisFirst Bancshares, Inc.SFBS

FY 2014 Earnings

Reported March 3, 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	$151M	—	$134M	—	13.2%
Op. Income	$74M	—	$62M	—	19.4%
Gross Margin	83.9%	—	80.1%	—	3.8pp
Net Margin	34.6%	—	31.1%	—	3.5pp
EPS (Diluted)	$1.05	—	$0.84	—	25.0%
Free Cash Flow	$64M	—	$73M	—	-12.5%

Revenue Flow

Item	Amount
REVENUE	$151M
Cost of Revenue	$24M
GROSS PROFIT	$127M
R&D Expenses	$0
Selling & Marketing	$477.0K
General & Administrative	$33M
SG&A Expenses	$34M
Other Expenses	$19M
Operating Expenses	$53M
Cost & Expenses	$77M
OPERATING INCOME	$74M
Interest Income	$145M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$74M
Income Tax Expense	$22M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$2M
EBIT	$74M
EBITDA	$76M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$151M
Cost of Revenue	$24M
GROSS PROFIT	$127M
R&D Expenses	$0
Selling & Marketing	$477.0K
General & Administrative	$33M
SG&A Expenses	$34M
Other Expenses	$19M
Operating Expenses	$53M
Cost & Expenses	$77M
OPERATING INCOME	$74M
Interest Income	$145M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$74M
Income Tax Expense	$22M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$2M
EBIT	$74M
EBITDA	$76M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$2M
Stock-Based Compensation	$4M
Deferred Income Tax	-$5M
Other Non-Cash Items	$17M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$65M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$68M
Sales/Maturities of Investments	$36M
Other Investing Activities	-$516M
NET CASH FROM INVESTING	-$549M
Net Debt Issuance	$90M
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$386M
NET CASH FROM FINANCING	$524M
FREE CASH FLOW	$64M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$297M
Short-Term Investments	$299M
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$606M
PP&E (Net)	$8M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.4B
Tax Assets	$16M
Other Non-Current Assets	$109M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$4.1B
Account Payables	$2M
Short-Term Debt	$264M
Deferred Revenue	$0
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$3.7B
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$27M
TOTAL LIABILITIES	$3.7B
Common Stock	$25.0K
Additional Paid-In Capital	$185M
Retained Earnings	$177M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$407M
Minority Interest	$252.0K
TOTAL EQUITY	$407M
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$284M
Net Debt	-$12M