SSB Q1 2016 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

Q1 2016 Earnings

Reported May 6, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2016	Q4 2015	Q1 2015	QoQ Change	YoY Change
Revenue	$112M	—	—	—	—
Op. Income	$37M	—	—	—	—
Gross Margin	95.8%	—	—	—	—
Net Margin	21.8%	—	—	—	—
EPS (Diluted)	$1.01	—	—	—	—
Free Cash Flow	$41M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$112M
Cost of Revenue	$5M
GROSS PROFIT	$108M
R&D Expenses	$0
Selling & Marketing	$645.0K
General & Administrative	$49M
SG&A Expenses	$50M
Other Expenses	$21M
Operating Expenses	$71M
Cost & Expenses	$75M
OPERATING INCOME	$37M
Interest Income	$84M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$13M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$5M
EBIT	$37M
EBITDA	$42M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$112M
Cost of Revenue	$5M
GROSS PROFIT	$108M
R&D Expenses	$0
Selling & Marketing	$645.0K
General & Administrative	$49M
SG&A Expenses	$50M
Other Expenses	$21M
Operating Expenses	$71M
Cost & Expenses	$75M
OPERATING INCOME	$37M
Interest Income	$84M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$13M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$5M
EBIT	$37M
EBITDA	$42M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$5M
Stock-Based Compensation	$1M
Deferred Income Tax	$1M
Other Non-Cash Items	$12M
Change in Working Capital	$3M
OPERATING CASH FLOW	$47M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$78M
Sales/Maturities of Investments	$121M
Other Investing Activities	-$157M
NET CASH FROM INVESTING	-$120M
Net Debt Issuance	-$2.0K
Common Stock Repurchased	-$4M
Common Dividends Paid	-$7M
Other Financing Activities	$86M
NET CASH FROM FINANCING	$75M
FREE CASH FLOW	$41M
Net Change in Cash	$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$433M
Short-Term Investments	$978M
Net Receivables	$2M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$176M
Goodwill	$338M
Intangible Assets	$69M
Long-Term Investments	$6.2B
Tax Assets	$32M
Other Non-Current Assets	$460M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$8.7B
Account Payables	$0
Short-Term Debt	$312M
Deferred Revenue	$0
Other Current Liabilities	$7.2B
TOTAL CURRENT LIABILITIES	$7.5B
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$115M
TOTAL LIABILITIES	$7.6B
Common Stock	$60M
Additional Paid-In Capital	$701M
Retained Earnings	$317M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.7B
Total Debt	$367M
Net Debt	-$66M