TRST FY 2016 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2016 Earnings

Reported March 3, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$180M	—	$177M	—	1.8%
Op. Income	$68M	—	$67M	—	2.3%
Gross Margin	89.9%	—	88.8%	—	1.1pp
Net Margin	23.6%	—	23.8%	—	-0.2pp
EPS (Diluted)	$2.23	—	$2.22	—	0.5%
Free Cash Flow	$53M	—	$56M	—	-6.1%

Revenue Flow

Item	Amount
REVENUE	$180M
Cost of Revenue	$18M
GROSS PROFIT	$162M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$42M
SG&A Expenses	$45M
Other Expenses	$49M
Operating Expenses	$94M
Cost & Expenses	$112M
OPERATING INCOME	$68M
Interest Income	$161M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$26M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$4M
EBIT	$68M
EBITDA	$72M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$180M
Cost of Revenue	$18M
GROSS PROFIT	$162M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$42M
SG&A Expenses	$45M
Other Expenses	$49M
Operating Expenses	$94M
Cost & Expenses	$112M
OPERATING INCOME	$68M
Interest Income	$161M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$26M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$4M
EBIT	$68M
EBITDA	$72M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$4M
Stock-Based Compensation	$224.0K
Deferred Income Tax	$3M
Other Non-Cash Items	$8M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$275M
Sales/Maturities of Investments	$259M
Other Investing Activities	-$139M
NET CASH FROM INVESTING	-$158M
Net Debt Issuance	$18M
Common Stock Repurchased	-$701.0K
Common Dividends Paid	-$25M
Other Financing Activities	$97M
NET CASH FROM FINANCING	$92M
FREE CASH FLOW	$53M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$620M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$669M
PP&E (Net)	$35M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.4B
Tax Assets	$0
Other Non-Current Assets	$732M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$4.9B
Account Payables	$0
Short-Term Debt	$209M
Deferred Revenue	$0
Other Current Liabilities	$4.2B
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$4.4B
Common Stock	$99M
Additional Paid-In Capital	$171M
Retained Earnings	$202M
Treasury Stock	-$33M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$433M
Minority Interest	$0
TOTAL EQUITY	$433M
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$209M
Net Debt	$161M