SSB FY 2007 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2007 Earnings

Reported March 17, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$177M	—	$158M	—	11.5%
Op. Income	$32M	—	$30M	—	7.2%
Gross Margin	58.7%	—	62.4%	—	-3.7pp
Net Margin	12.2%	—	12.5%	—	-0.3pp
EPS (Diluted)	$2.32	—	$2.05	—	13.2%
Free Cash Flow	$26M	—	$3M	—	909.6%

Revenue Flow

Item	Amount
REVENUE	$177M
Cost of Revenue	$73M
GROSS PROFIT	$104M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$40M
SG&A Expenses	$43M
Other Expenses	$28M
Operating Expenses	$71M
Cost & Expenses	$144M
OPERATING INCOME	$32M
Interest Income	$149M
Interest Expense	$69M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$11M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$4M
EBIT	$32M
EBITDA	$37M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$177M
Cost of Revenue	$73M
GROSS PROFIT	$104M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$40M
SG&A Expenses	$43M
Other Expenses	$28M
Operating Expenses	$71M
Cost & Expenses	$144M
OPERATING INCOME	$32M
Interest Income	$149M
Interest Expense	$69M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$11M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$4M
EBIT	$32M
EBITDA	$37M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$4M
Stock-Based Compensation	$1M
Deferred Income Tax	-$705.0K
Other Non-Cash Items	$5M
Change in Working Capital	$4M
OPERATING CASH FLOW	$34M
Capital Expenditure	-$8M
Acquisitions (Net)	-$2M
Purchases of Investments	-$108M
Sales/Maturities of Investments	$94M
Other Investing Activities	-$168M
NET CASH FROM INVESTING	-$193M
Net Debt Issuance	$40M
Common Stock Repurchased	-$92.0K
Common Dividends Paid	-$6M
Other Financing Activities	$142M
NET CASH FROM FINANCING	$176M
FREE CASH FLOW	$26M
Net Change in Cash	$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$66M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$66M
PP&E (Net)	$55M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.3B
Tax Assets	$0
Other Non-Current Assets	$82M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$2.6B
Account Payables	$0
Short-Term Debt	$296M
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$144M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$158M
TOTAL LIABILITIES	$2.4B
Common Stock	$25M
Additional Paid-In Capital	$141M
Retained Earnings	$50M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$215M
Minority Interest	$0
TOTAL EQUITY	$215M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$440M
Net Debt	$374M