TRST FY 2015 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2015 Earnings

Reported March 4, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$177M	—	$177M	—	0.2%
Op. Income	$67M	—	$72M	—	-6.7%
Gross Margin	88.8%	—	88.4%	—	0.4pp
Net Margin	23.8%	—	25.0%	—	-1.2pp
EPS (Diluted)	$2.22	—	$2.33	—	-4.7%
Free Cash Flow	$56M	—	$46M	—	21.0%

Revenue Flow

Item	Amount
REVENUE	$177M
Cost of Revenue	$20M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$39M
SG&A Expenses	$41M
Other Expenses	$49M
Operating Expenses	$91M
Cost & Expenses	$110M
OPERATING INCOME	$67M
Interest Income	$159M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$67M
Income Tax Expense	$25M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$5M
EBIT	$67M
EBITDA	$71M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$177M
Cost of Revenue	$20M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$39M
SG&A Expenses	$41M
Other Expenses	$49M
Operating Expenses	$91M
Cost & Expenses	$110M
OPERATING INCOME	$67M
Interest Income	$159M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$67M
Income Tax Expense	$25M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$5M
EBIT	$67M
EBITDA	$71M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$42M
Depreciation & Amortization	$5M
Stock-Based Compensation	$204.0K
Deferred Income Tax	$3M
Other Non-Cash Items	$10M
Change in Working Capital	$296.0K
OPERATING CASH FLOW	$60M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$190M
Sales/Maturities of Investments	$273M
Other Investing Activities	-$141M
NET CASH FROM INVESTING	-$61M
Net Debt Issuance	$2M
Common Stock Repurchased	-$147.0K
Common Dividends Paid	-$25M
Other Financing Activities	$68M
NET CASH FROM FINANCING	$48M
FREE CASH FLOW	$56M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$42M
Short-Term Investments	$601M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$643M
PP&E (Net)	$38M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$750M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$4.7B
Account Payables	$0
Short-Term Debt	$191M
Deferred Revenue	$0
Other Current Liabilities	$4.1B
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	$171M
Retained Earnings	$184M
Treasury Stock	-$36M
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$413M
Minority Interest	$0
TOTAL EQUITY	$413M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$191M
Net Debt	$150M