TRST FY 2017 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2017 Earnings

Reported March 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$187M	—	$180M	—	3.9%
Op. Income	$77M	—	$68M	—	12.4%
Gross Margin	91.1%	—	89.9%	—	1.3pp
Net Margin	23.0%	—	23.6%	—	-0.6pp
EPS (Diluted)	$2.24	—	$2.23	—	0.4%
Free Cash Flow	$58M	—	$53M	—	9.9%

Revenue Flow

Item	Amount
REVENUE	$187M
Cost of Revenue	$17M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$45M
SG&A Expenses	$47M
Other Expenses	$47M
Operating Expenses	$94M
Cost & Expenses	$111M
OPERATING INCOME	$77M
Interest Income	$169M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$34M
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	$77M
EBITDA	$81M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$187M
Cost of Revenue	$17M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$45M
SG&A Expenses	$47M
Other Expenses	$47M
Operating Expenses	$94M
Cost & Expenses	$111M
OPERATING INCOME	$77M
Interest Income	$169M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$34M
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	$77M
EBITDA	$81M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$4M
Stock-Based Compensation	$150.0K
Deferred Income Tax	-$183.0K
Other Non-Cash Items	$7M
Change in Working Capital	$8M
OPERATING CASH FLOW	$62M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$83M
Sales/Maturities of Investments	$148M
Other Investing Activities	-$206M
NET CASH FROM INVESTING	-$145M
Net Debt Issuance	$34M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$25M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	-$11M
FREE CASH FLOW	$58M
Net Change in Cash	-$95M

Balance Sheet

Item	Amount
Cash & Equivalents	$44M
Short-Term Investments	$572M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$616M
PP&E (Net)	$35M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.6B
Tax Assets	$0
Other Non-Current Assets	$637M
TOTAL NON-CURRENT ASSETS	$4.3B
TOTAL ASSETS	$4.9B
Account Payables	$0
Short-Term Debt	$243M
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	$100M
Additional Paid-In Capital	$176M
Retained Earnings	$219M
Treasury Stock	-$35M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$458M
Minority Interest	$0
TOTAL EQUITY	$458M
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$243M
Net Debt	$199M