SRCE FY 2018 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2018 Earnings

Reported February 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$354M	—	$311M	—	13.9%
Op. Income	$105M	—	$101M	—	3.6%
Gross Margin	82.3%	—	88.5%	—	-6.3pp
Net Margin	23.3%	—	21.9%	—	1.4pp
EPS (Diluted)	$3.16	—	$2.60	—	21.5%
Free Cash Flow	$136M	—	$88M	—	53.6%

Revenue Flow

Item	Amount
REVENUE	$354M
Cost of Revenue	$63M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$77M
Operating Expenses	$186M
Cost & Expenses	$249M
OPERATING INCOME	$105M
Interest Income	$257M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$105M
Income Tax Expense	$23M
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$82M
D&A	$33M
EBIT	$105M
EBITDA	$138M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$354M
Cost of Revenue	$63M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$77M
Operating Expenses	$186M
Cost & Expenses	$249M
OPERATING INCOME	$105M
Interest Income	$257M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$105M
Income Tax Expense	$23M
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$82M
D&A	$33M
EBIT	$105M
EBITDA	$138M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$82M
Depreciation & Amortization	$33M
Stock-Based Compensation	$4M
Deferred Income Tax	-$550.0K
Other Non-Cash Items	$25M
Change in Working Capital	$16M
OPERATING CASH FLOW	$160M
Capital Expenditure	-$24M
Acquisitions (Net)	$0
Purchases of Investments	-$255M
Sales/Maturities of Investments	$154M
Other Investing Activities	-$333M
NET CASH FROM INVESTING	-$458M
Net Debt Issuance	-$17M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$26M
Other Financing Activities	$371M
NET CASH FROM FINANCING	$319M
FREE CASH FLOW	$136M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$95M
Short-Term Investments	$990M
Net Receivables	$159M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$187M
Goodwill	$84M
Intangible Assets	$133.0K
Long-Term Investments	$4.8B
Tax Assets	$0
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$5.0B
TOTAL ASSETS	$6.3B
Account Payables	$0
Short-Term Debt	$199M
Deferred Revenue	$0
Other Current Liabilities	$5.1B
TOTAL CURRENT LIABILITIES	$5.4B
Long-Term Debt	$113M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$130M
TOTAL LIABILITIES	$5.5B
Common Stock	$437M
Additional Paid-In Capital	$0
Retained Earnings	$399M
Treasury Stock	-$63M
Accum. Other Comp. Income	-$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$762M
Minority Interest	$2M
TOTAL EQUITY	$764M
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$313M
Net Debt	$218M