TRST FY 2014 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2014 Earnings

Reported March 6, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$177M	—	$171M	—	3.5%
Op. Income	$72M	—	$64M	—	12.7%
Gross Margin	88.4%	—	87.0%	—	1.4pp
Net Margin	25.0%	—	23.3%	—	1.7pp
EPS (Diluted)	$2.33	—	$2.11	—	10.4%
Free Cash Flow	$46M	—	$64M	—	-26.8%

Revenue Flow

Item	Amount
REVENUE	$177M
Cost of Revenue	$21M
GROSS PROFIT	$156M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$37M
SG&A Expenses	$39M
Other Expenses	$45M
Operating Expenses	$85M
Cost & Expenses	$105M
OPERATING INCOME	$72M
Interest Income	$157M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$72M
Income Tax Expense	$27M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$5M
EBIT	$72M
EBITDA	$76M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$177M
Cost of Revenue	$21M
GROSS PROFIT	$156M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$37M
SG&A Expenses	$39M
Other Expenses	$45M
Operating Expenses	$85M
Cost & Expenses	$105M
OPERATING INCOME	$72M
Interest Income	$157M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$72M
Income Tax Expense	$27M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$5M
EBIT	$72M
EBITDA	$76M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$5M
Stock-Based Compensation	$325.0K
Deferred Income Tax	$3M
Other Non-Cash Items	$8M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$126M
Sales/Maturities of Investments	$348M
Other Investing Activities	-$248M
NET CASH FROM INVESTING	-$35M
Net Debt Issuance	-$15M
Common Stock Repurchased	-$282.0K
Common Dividends Paid	-$25M
Other Financing Activities	$105M
NET CASH FROM FINANCING	$68M
FREE CASH FLOW	$46M
Net Change in Cash	$88M

Balance Sheet

Item	Amount
Cash & Equivalents	$44M
Short-Term Investments	$677M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$720M
PP&E (Net)	$39M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.2B
Tax Assets	$0
Other Non-Current Assets	$703M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$4.6B
Account Payables	$0
Short-Term Debt	$189M
Deferred Revenue	$0
Other Current Liabilities	$4.0B
TOTAL CURRENT LIABILITIES	$4.3B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$4.3B
Common Stock	$99M
Additional Paid-In Capital	$172M
Retained Earnings	$167M
Treasury Stock	-$40M
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$393M
Minority Interest	$0
TOTAL EQUITY	$393M
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$189M
Net Debt	$146M