SSB FY 2011 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2011 Earnings

Reported March 9, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$215M	—	$189M	—	14.0%
Op. Income	$33M	—	$81M	—	-58.7%
Gross Margin	76.6%	—	53.9%	—	22.6pp
Net Margin	10.5%	—	27.5%	—	-17.0pp
EPS (Diluted)	$1.63	—	$4.08	—	-60.0%
Free Cash Flow	$135M	—	$79M	—	71.3%

Revenue Flow

Item	Amount
REVENUE	$215M
Cost of Revenue	$51M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$90M
SG&A Expenses	$93M
Other Expenses	$38M
Operating Expenses	$132M
Cost & Expenses	$182M
OPERATING INCOME	$33M
Interest Income	$172M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$11M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$11M
EBIT	$33M
EBITDA	$44M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$215M
Cost of Revenue	$51M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$90M
SG&A Expenses	$93M
Other Expenses	$38M
Operating Expenses	$132M
Cost & Expenses	$182M
OPERATING INCOME	$33M
Interest Income	$172M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$11M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$11M
EBIT	$33M
EBITDA	$44M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$11M
Stock-Based Compensation	$2M
Deferred Income Tax	-$10M
Other Non-Cash Items	$33M
Change in Working Capital	$97M
OPERATING CASH FLOW	$155M
Capital Expenditure	-$19M
Acquisitions (Net)	$137M
Purchases of Investments	-$147M
Sales/Maturities of Investments	$163M
Other Investing Activities	-$18M
NET CASH FROM INVESTING	$115M
Net Debt Issuance	-$59M
Common Stock Repurchased	-$342.0K
Common Dividends Paid	-$10M
Other Financing Activities	-$303M
NET CASH FROM FINANCING	-$336M
FREE CASH FLOW	$135M
Net Change in Cash	-$66M

Balance Sheet

Item	Amount
Cash & Equivalents	$132M
Short-Term Investments	$289M
Net Receivables	$263M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$683M
PP&E (Net)	$94M
Goodwill	$63M
Intangible Assets	$12M
Long-Term Investments	$2.9B
Tax Assets	$0
Other Non-Current Assets	$172M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$3.9B
Account Payables	$0
Short-Term Debt	$180M
Deferred Revenue	$0
Other Current Liabilities	$3.3B
TOTAL CURRENT LIABILITIES	$3.4B
Long-Term Debt	$47M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3M
Other Non-Current Liabilities	$31M
TOTAL NON-CURRENT LIABILITIES	$80M
TOTAL LIABILITIES	$3.5B
Common Stock	$35M
Additional Paid-In Capital	$233M
Retained Earnings	$116M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$382M
Minority Interest	$0
TOTAL EQUITY	$382M
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$227M
Net Debt	$96M