SHBI FY 2017 Earnings Report — Shore Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Shore Bancshares, Inc.SHBI

FY 2017 Earnings

Reported March 16, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$56M	—	$57M	—	-2.0%
Op. Income	$18M	—	$16M	—	13.0%
Gross Margin	91.8%	—	92.5%	—	-0.7pp
Net Margin	20.2%	—	17.0%	—	3.3pp
EPS (Diluted)	$0.89	—	$0.76	—	17.1%
Free Cash Flow	$18M	—	$18M	—	-0.2%

Revenue Flow

Item	Amount
REVENUE	$56M
Cost of Revenue	$5M
GROSS PROFIT	$51M
R&D Expenses	$0
Selling & Marketing	$509.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$12M
Operating Expenses	$33M
Cost & Expenses	$38M
OPERATING INCOME	$18M
Interest Income	$48M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$18M
Income Tax Expense	$9M
Net Income from Continuing Ops	$9M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$2M
EBIT	$18M
EBITDA	$20M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$56M
Cost of Revenue	$5M
GROSS PROFIT	$51M
R&D Expenses	$0
Selling & Marketing	$509.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$12M
Operating Expenses	$33M
Cost & Expenses	$38M
OPERATING INCOME	$18M
Interest Income	$48M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$18M
Income Tax Expense	$9M
Net Income from Continuing Ops	$9M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$11M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$2M
EBIT	$18M
EBITDA	$20M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$11M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	$4M
Other Non-Cash Items	$3M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$20M
Capital Expenditure	-$1M
Acquisitions (Net)	$64M
Purchases of Investments	-$84M
Sales/Maturities of Investments	$51M
Other Investing Activities	-$102M
NET CASH FROM INVESTING	-$72M
Net Debt Issuance	$19M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$9M
FREE CASH FLOW	$18M
Net Change in Cash	-$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$197M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$234M
PP&E (Net)	$23M
Goodwill	$18M
Intangible Assets	$4M
Long-Term Investments	$1.1B
Tax Assets	$4M
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.4B
Account Payables	$65.0K
Short-Term Debt	$22M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$2M
TOTAL LIABILITIES	$1.2B
Common Stock	$127.0K
Additional Paid-In Capital	$65M
Retained Earnings	$100M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$164M
Minority Interest	$0
TOTAL EQUITY	$164M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$22M
Net Debt	-$10M