TYL FY 2013 Earnings Report — Tyler Technologies, Inc. Revenue & Financial Results | Market Cap Arena

Tyler Technologies, Inc.TYL

FY 2013 Earnings

Reported February 19, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$417M	—	$363M	—	14.7%
Op. Income	$66M	—	$57M	—	17.4%
Gross Margin	45.3%	—	45.0%	—	0.3pp
Net Margin	9.4%	—	9.1%	—	0.3pp
EPS (Diluted)	$1.13	—	$1.00	—	13.0%
Free Cash Flow	$39M	—	$50M	—	-20.8%

Revenue Flow

Item	Amount
REVENUE	$417M
Cost of Revenue	$228M
GROSS PROFIT	$189M
R&D Expenses	$23M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$99M
Other Expenses	$0
Operating Expenses	$122M
Cost & Expenses	$350M
OPERATING INCOME	$66M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$605.0K
INCOME BEFORE TAX	$66M
Income Tax Expense	$27M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$14M
EBIT	$66M
EBITDA	$80M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$417M
Cost of Revenue	$228M
GROSS PROFIT	$189M
R&D Expenses	$23M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$99M
Other Expenses	$0
Operating Expenses	$122M
Cost & Expenses	$350M
OPERATING INCOME	$66M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$605.0K
INCOME BEFORE TAX	$66M
Income Tax Expense	$27M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$14M
EBIT	$66M
EBITDA	$80M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$39M
Depreciation & Amortization	$14M
Stock-Based Compensation	$12M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$27M
Change in Working Capital	$31M
OPERATING CASH FLOW	$66M
Capital Expenditure	-$27M
Acquisitions (Net)	-$181.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$1M
Other Investing Activities	$291.0K
NET CASH FROM INVESTING	-$26M
Net Debt Issuance	-$18M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$32M
NET CASH FROM FINANCING	$32M
FREE CASH FLOW	$39M
Net Change in Cash	$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$79M
Short-Term Investments	$0
Net Receivables	$116M
Inventory	$0
Other Current Assets	$9M
TOTAL CURRENT ASSETS	$217M
PP&E (Net)	$65M
Goodwill	$121M
Intangible Assets	$39M
Long-Term Investments	$1M
Tax Assets	$0
Other Non-Current Assets	$1M
TOTAL NON-CURRENT ASSETS	$227M
TOTAL ASSETS	$444M
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$157M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$192M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$6M
TOTAL LIABILITIES	$198M
Common Stock	$481.0K
Additional Paid-In Capital	$182M
Retained Earnings	$202M
Treasury Stock	-$139M
Accum. Other Comp. Income	-$46.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$246M
Minority Interest	$0
TOTAL EQUITY	$246M
TOTAL LIABILITIES & EQUITY	$444M
Total Debt	$0
Net Debt	-$79M