SSB FY 2010 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2010 Earnings

Reported March 16, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$189M	—	$173M	—	9.2%
Op. Income	$81M	—	$20M	—	294.7%
Gross Margin	53.9%	—	63.1%	—	-9.1pp
Net Margin	27.5%	—	7.9%	—	19.6pp
EPS (Diluted)	$4.08	—	$0.74	—	451.4%
Free Cash Flow	$79M	—	$34M	—	132.2%

Revenue Flow

Item	Amount
REVENUE	$189M
Cost of Revenue	$87M
GROSS PROFIT	$102M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$82M
SG&A Expenses	$85M
Other Expenses	-$64M
Operating Expenses	$21M
Cost & Expenses	$108M
OPERATING INCOME	$81M
Interest Income	$155M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$29M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$9M
EBIT	$81M
EBITDA	$90M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$189M
Cost of Revenue	$87M
GROSS PROFIT	$102M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$82M
SG&A Expenses	$85M
Other Expenses	-$64M
Operating Expenses	$21M
Cost & Expenses	$108M
OPERATING INCOME	$81M
Interest Income	$155M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$29M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$9M
EBIT	$81M
EBITDA	$90M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	$24M
Other Non-Cash Items	-$59M
Change in Working Capital	$76M
OPERATING CASH FLOW	$103M
Capital Expenditure	-$24M
Acquisitions (Net)	$306M
Purchases of Investments	-$117M
Sales/Maturities of Investments	$193M
Other Investing Activities	-$58M
NET CASH FROM INVESTING	$300M
Net Debt Issuance	-$181M
Common Stock Repurchased	-$255.0K
Common Dividends Paid	-$9M
Other Financing Activities	-$82M
NET CASH FROM FINANCING	-$271M
FREE CASH FLOW	$79M
Net Change in Cash	$132M

Balance Sheet

Item	Amount
Cash & Equivalents	$84M
Short-Term Investments	$0
Net Receivables	$212M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$296M
PP&E (Net)	$87M
Goodwill	$63M
Intangible Assets	$0
Long-Term Investments	$2.9B
Tax Assets	$0
Other Non-Current Assets	$298M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$3.6B
Account Payables	$0
Short-Term Debt	$191M
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$47M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$70M
TOTAL LIABILITIES	$3.3B
Common Stock	$32M
Additional Paid-In Capital	$199M
Retained Earnings	$103M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$330M
Minority Interest	$0
TOTAL EQUITY	$330M
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$238M
Net Debt	$154M