SYBT FY 2013 Earnings Report — Stock Yards Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Stock Yards Bancorp, Inc.SYBT

FY 2013 Earnings

Reported March 7, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$124M	—	$124M	—	0.3%
Op. Income	$38M	—	$35M	—	8.4%
Gross Margin	87.4%	—	80.3%	—	7.1pp
Net Margin	21.8%	—	20.8%	—	1.0pp
EPS (Diluted)	$1.26	—	$1.23	—	2.4%
Free Cash Flow	$56M	—	$11M	—	386.9%

Revenue Flow

Item	Amount
REVENUE	$124M
Cost of Revenue	$16M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$49M
SG&A Expenses	$49M
Other Expenses	$21M
Operating Expenses	$70M
Cost & Expenses	$86M
OPERATING INCOME	$38M
Interest Income	$86M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$38M
Income Tax Expense	$11M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$27M
D&A	$8M
EBIT	$38M
EBITDA	$46M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$124M
Cost of Revenue	$16M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$49M
SG&A Expenses	$49M
Other Expenses	$21M
Operating Expenses	$70M
Cost & Expenses	$86M
OPERATING INCOME	$38M
Interest Income	$86M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$38M
Income Tax Expense	$11M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$27M
D&A	$8M
EBIT	$38M
EBITDA	$46M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$27M
Depreciation & Amortization	$8M
Stock-Based Compensation	$2M
Deferred Income Tax	$570.0K
Other Non-Cash Items	$18M
Change in Working Capital	$3M
OPERATING CASH FLOW	$58M
Capital Expenditure	-$2M
Acquisitions (Net)	$9M
Purchases of Investments	-$444M
Sales/Maturities of Investments	$407M
Other Investing Activities	-$106M
NET CASH FROM INVESTING	-$136M
Net Debt Issuance	-$28M
Common Stock Repurchased	-$331.0K
Common Dividends Paid	-$12M
Other Financing Activities	$121M
NET CASH FROM FINANCING	$81M
FREE CASH FLOW	$56M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$35M
Short-Term Investments	$490M
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$532M
PP&E (Net)	$40M
Goodwill	$682.0K
Intangible Assets	$4M
Long-Term Investments	$1.7B
Tax Assets	$15M
Other Non-Current Assets	$92M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.4B
Account Payables	$128.0K
Short-Term Debt	$118M
Deferred Revenue	$0
Other Current Liabilities	$2.0B
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$34M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$27M
TOTAL NON-CURRENT LIABILITIES	$61M
TOTAL LIABILITIES	$2.2B
Common Stock	$10M
Additional Paid-In Capital	$33M
Retained Earnings	$189M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$229M
Minority Interest	$0
TOTAL EQUITY	$229M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$152M
Net Debt	$118M