SFST FY 2013 Earnings Report — Southern First Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southern First Bancshares, Inc.SFST

FY 2013 Earnings

Reported March 4, 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	$40M	—	$38M	—	3.8%
Op. Income	$8M	—	$6M	—	32.3%
Gross Margin	73.5%	—	65.5%	—	8.0pp
Net Margin	12.8%	—	10.0%	—	2.8pp
EPS (Diluted)	$0.98	—	$0.64	—	53.1%
Free Cash Flow	$6M	—	$10M	—	-33.8%

Revenue Flow

Item	Amount
REVENUE	$40M
Cost of Revenue	$11M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$731.0K
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$6M
Operating Expenses	$22M
Cost & Expenses	$32M
OPERATING INCOME	$8M
Interest Income	$36M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4M
D&A	$1M
EBIT	$8M
EBITDA	$9M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$40M
Cost of Revenue	$11M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$731.0K
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$6M
Operating Expenses	$22M
Cost & Expenses	$32M
OPERATING INCOME	$8M
Interest Income	$36M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4M
D&A	$1M
EBIT	$8M
EBITDA	$9M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$5M
Depreciation & Amortization	$1M
Stock-Based Compensation	$515.0K
Deferred Income Tax	$0
Other Non-Cash Items	$3M
Change in Working Capital	-$969.0K
OPERATING CASH FLOW	$9M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$5M
Sales/Maturities of Investments	$13M
Other Investing Activities	-$94M
NET CASH FROM INVESTING	-$88M
Net Debt Issuance	-$13M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$104M
NET CASH FROM FINANCING	$89M
FREE CASH FLOW	$6M
Net Change in Cash	$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$31M
Short-Term Investments	$67M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$98M
PP&E (Net)	$20M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$727M
Tax Assets	$5M
Other Non-Current Assets	$40M
TOTAL NON-CURRENT ASSETS	$793M
TOTAL ASSETS	$891M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$680M
TOTAL CURRENT LIABILITIES	$680M
Long-Term Debt	$138M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$145M
TOTAL LIABILITIES	$825M
Common Stock	$43.0K
Additional Paid-In Capital	$44M
Retained Earnings	$9M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	-$636.0K
TOTAL STOCKHOLDERS' EQUITY	$66M
Minority Interest	$0
TOTAL EQUITY	$66M
TOTAL LIABILITIES & EQUITY	$891M
Total Debt	$138M
Net Debt	$107M