SRCE FY 2019 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2019 Earnings

Reported February 20, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$384M	—	$354M	—	8.4%
Op. Income	$120M	—	$105M	—	14.4%
Gross Margin	80.5%	—	82.3%	—	-1.7pp
Net Margin	23.9%	—	23.3%	—	0.7pp
EPS (Diluted)	$3.57	—	$3.16	—	13.0%
Free Cash Flow	$154M	—	$136M	—	13.7%

Revenue Flow

Item	Amount
REVENUE	$384M
Cost of Revenue	$75M
GROSS PROFIT	$309M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$112M
SG&A Expenses	$112M
Other Expenses	$77M
Operating Expenses	$189M
Cost & Expenses	$264M
OPERATING INCOME	$120M
Interest Income	$283M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$28M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$35M
EBIT	$120M
EBITDA	$155M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$384M
Cost of Revenue	$75M
GROSS PROFIT	$309M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$112M
SG&A Expenses	$112M
Other Expenses	$77M
Operating Expenses	$189M
Cost & Expenses	$264M
OPERATING INCOME	$120M
Interest Income	$283M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$28M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$35M
EBIT	$120M
EBITDA	$155M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$92M
Depreciation & Amortization	$35M
Stock-Based Compensation	$3M
Deferred Income Tax	-$6M
Other Non-Cash Items	$11M
Change in Working Capital	$29M
OPERATING CASH FLOW	$165M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$351M
Sales/Maturities of Investments	$317M
Other Investing Activities	-$289M
NET CASH FROM INVESTING	-$334M
Net Debt Issuance	-$56M
Common Stock Repurchased	-$15M
Common Dividends Paid	-$29M
Other Financing Activities	$254M
NET CASH FROM FINANCING	$154M
FREE CASH FLOW	$154M
Net Change in Cash	-$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$67M
Short-Term Investments	$1.0B
Net Receivables	$228M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$164M
Goodwill	$84M
Intangible Assets	$104.0K
Long-Term Investments	$5.0B
Tax Assets	$0
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$5.3B
TOTAL ASSETS	$6.6B
Account Payables	$0
Short-Term Debt	$146M
Deferred Revenue	$0
Other Current Liabilities	$5.4B
TOTAL CURRENT LIABILITIES	$5.6B
Long-Term Debt	$112M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$130M
TOTAL LIABILITIES	$5.8B
Common Stock	$437M
Additional Paid-In Capital	$0
Retained Earnings	$463M
Treasury Stock	-$77M
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$828M
Minority Interest	$20M
TOTAL EQUITY	$849M
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$258M
Net Debt	$191M