TRST FY 2018 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$199M	—	$187M	—	6.2%
Op. Income	$80M	—	$77M	—	3.8%
Gross Margin	89.1%	—	91.1%	—	-2.0pp
Net Margin	30.9%	—	23.0%	—	7.8pp
EPS (Diluted)	$3.18	—	$2.24	—	42.0%
Free Cash Flow	$64M	—	$58M	—	10.2%

Revenue Flow

Item	Amount
REVENUE	$199M
Cost of Revenue	$22M
GROSS PROFIT	$177M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$45M
SG&A Expenses	$48M
Other Expenses	$50M
Operating Expenses	$98M
Cost & Expenses	$119M
OPERATING INCOME	$80M
Interest Income	$181M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$80M
Income Tax Expense	$18M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$4M
EBIT	$80M
EBITDA	$84M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$199M
Cost of Revenue	$22M
GROSS PROFIT	$177M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$45M
SG&A Expenses	$48M
Other Expenses	$50M
Operating Expenses	$98M
Cost & Expenses	$119M
OPERATING INCOME	$80M
Interest Income	$181M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$80M
Income Tax Expense	$18M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$4M
EBIT	$80M
EBITDA	$84M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$4M
Stock-Based Compensation	$173.0K
Deferred Income Tax	$3M
Other Non-Cash Items	$5M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$68M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$62M
Sales/Maturities of Investments	$129M
Other Investing Activities	-$237M
NET CASH FROM INVESTING	-$174M
Net Debt Issuance	-$81M
Common Stock Repurchased	-$718.0K
Common Dividends Paid	-$26M
Other Financing Activities	$102M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$64M
Net Change in Cash	-$109M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$501M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$551M
PP&E (Net)	$35M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.9B
Tax Assets	$0
Other Non-Current Assets	$522M
TOTAL NON-CURRENT ASSETS	$4.4B
TOTAL ASSETS	$5.0B
Account Payables	$0
Short-Term Debt	$162M
Deferred Revenue	$0
Other Current Liabilities	$4.3B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$4.5B
Common Stock	$100M
Additional Paid-In Capital	$177M
Retained Earnings	$256M
Treasury Stock	-$33M
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$490M
Minority Interest	$0
TOTAL EQUITY	$490M
TOTAL LIABILITIES & EQUITY	$5.0B
Total Debt	$162M
Net Debt	$113M