TRST FY 2013 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

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	$171M	—	$176M	—	-2.9%
Op. Income	$64M	—	$60M	—	5.9%
Gross Margin	87.0%	—	81.8%	—	5.1pp
Net Margin	23.3%	—	21.3%	—	2.0pp
EPS (Diluted)	$2.11	—	$2.00	—	5.5%
Free Cash Flow	$64M	—	$54M	—	16.8%

Revenue Flow

Item	Amount
REVENUE	$171M
Cost of Revenue	$22M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$36M
SG&A Expenses	$39M
Other Expenses	$46M
Operating Expenses	$85M
Cost & Expenses	$107M
OPERATING INCOME	$64M
Interest Income	$151M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$64M
Income Tax Expense	$24M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$5M
EBIT	$64M
EBITDA	$69M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$171M
Cost of Revenue	$22M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$36M
SG&A Expenses	$39M
Other Expenses	$46M
Operating Expenses	$85M
Cost & Expenses	$107M
OPERATING INCOME	$64M
Interest Income	$151M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$64M
Income Tax Expense	$24M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$5M
EBIT	$64M
EBITDA	$69M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$40M
Depreciation & Amortization	$5M
Stock-Based Compensation	$378.0K
Deferred Income Tax	-$1M
Other Non-Cash Items	$14M
Change in Working Capital	$12M
OPERATING CASH FLOW	$70M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$424M
Sales/Maturities of Investments	$487M
Other Investing Activities	-$234M
NET CASH FROM INVESTING	-$176M
Net Debt Issuance	$44M
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	$123M
NET CASH FROM FINANCING	$145M
FREE CASH FLOW	$64M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$46M
Short-Term Investments	$864M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$910M
PP&E (Net)	$34M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.9B
Tax Assets	$0
Other Non-Current Assets	$630M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.5B
Account Payables	$0
Short-Term Debt	$204M
Deferred Revenue	$0
Other Current Liabilities	$3.9B
TOTAL CURRENT LIABILITIES	$4.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$4.2B
Common Stock	$99M
Additional Paid-In Capital	$173M
Retained Earnings	$147M
Treasury Stock	-$44M
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$362M
Minority Interest	$0
TOTAL EQUITY	$362M
TOTAL LIABILITIES & EQUITY	$4.5B
Total Debt	$204M
Net Debt	$158M