SSB FY 2012 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2012 Earnings

Reported March 4, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$244M	—	$215M	—	13.3%
Op. Income	$45M	—	$33M	—	35.4%
Gross Margin	89.9%	—	76.6%	—	13.3pp
Net Margin	12.3%	—	10.5%	—	1.8pp
EPS (Diluted)	$2.03	—	$1.63	—	24.5%
Free Cash Flow	$162M	—	$135M	—	19.7%

Revenue Flow

Item	Amount
REVENUE	$244M
Cost of Revenue	$25M
GROSS PROFIT	$219M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$102M
Other Expenses	$72M
Operating Expenses	$174M
Cost & Expenses	$199M
OPERATING INCOME	$45M
Interest Income	$187M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$15M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$12M
EBIT	$45M
EBITDA	$57M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$244M
Cost of Revenue	$25M
GROSS PROFIT	$219M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$102M
Other Expenses	$72M
Operating Expenses	$174M
Cost & Expenses	$199M
OPERATING INCOME	$45M
Interest Income	$187M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$15M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$12M
EBIT	$45M
EBITDA	$57M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$12M
Stock-Based Compensation	$2M
Deferred Income Tax	$3M
Other Non-Cash Items	$23M
Change in Working Capital	$100M
OPERATING CASH FLOW	$171M
Capital Expenditure	-$8M
Acquisitions (Net)	$97M
Purchases of Investments	-$130M
Sales/Maturities of Investments	$145M
Other Investing Activities	$74M
NET CASH FROM INVESTING	$178M
Net Debt Issuance	-$22M
Common Stock Repurchased	-$836.0K
Common Dividends Paid	-$10M
Other Financing Activities	-$106M
NET CASH FROM FINANCING	-$139M
FREE CASH FLOW	$162M
Net Change in Cash	$209M

Balance Sheet

Item	Amount
Cash & Equivalents	$202M
Short-Term Investments	$535M
Net Receivables	$146M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$883M
PP&E (Net)	$116M
Goodwill	$103M
Intangible Assets	$25M
Long-Term Investments	$3.7B
Tax Assets	$34M
Other Non-Current Assets	$316M
TOTAL NON-CURRENT ASSETS	$4.3B
TOTAL ASSETS	$5.1B
Account Payables	$0
Short-Term Debt	$239M
Deferred Revenue	$0
Other Current Liabilities	$4.3B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37M
TOTAL NON-CURRENT LIABILITIES	$92M
TOTAL LIABILITIES	$4.6B
Common Stock	$42M
Additional Paid-In Capital	$329M
Retained Earnings	$136M
Treasury Stock	$0
Accum. Other Comp. Income	$376.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$508M
Minority Interest	$0
TOTAL EQUITY	$508M
TOTAL LIABILITIES & EQUITY	$5.1B
Total Debt	$294M
Net Debt	$92M