VABK FY 2014 Earnings Report — Virginia National Bankshares Corporation Revenue & Financial Results | Market Cap Arena

Virginia National Bankshares CorporationVABK

FY 2014 Earnings

Reported March 30, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$21M	—	$33M	—	-37.5%
Op. Income	$2M	—	$10M	—	-76.7%
Gross Margin	94.0%	—	96.5%	—	-2.5pp
Net Margin	9.2%	—	20.9%	—	-11.7pp
EPS (Diluted)	$0.63	—	$2.32	—	-72.8%
Free Cash Flow	$7M	—	$8M	—	-16.2%

Revenue Flow

Item	Amount
REVENUE	$21M
Cost of Revenue	$1M
GROSS PROFIT	$19M
R&D Expenses	$0
Selling & Marketing	$774.0K
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$6M
Operating Expenses	$17M
Cost & Expenses	$18M
OPERATING INCOME	$2M
Interest Income	$15M
Interest Expense	$928.0K
Other Income/Expenses	$0
INCOME BEFORE TAX	$2M
Income Tax Expense	$456.0K
Net Income from Continuing Ops	$2M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2M
D&A	$1M
EBIT	$2M
EBITDA	$4M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$21M
Cost of Revenue	$1M
GROSS PROFIT	$19M
R&D Expenses	$0
Selling & Marketing	$774.0K
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$6M
Operating Expenses	$17M
Cost & Expenses	$18M
OPERATING INCOME	$2M
Interest Income	$15M
Interest Expense	$928.0K
Other Income/Expenses	$0
INCOME BEFORE TAX	$2M
Income Tax Expense	$456.0K
Net Income from Continuing Ops	$2M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2M
D&A	$1M
EBIT	$2M
EBITDA	$4M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2M
Depreciation & Amortization	$1M
Stock-Based Compensation	$52.0K
Deferred Income Tax	-$61.0K
Other Non-Cash Items	$842.0K
Change in Working Capital	$4M
OPERATING CASH FLOW	$8M
Capital Expenditure	-$803.0K
Acquisitions (Net)	$0
Purchases of Investments	-$44M
Sales/Maturities of Investments	$37M
Other Investing Activities	-$13M
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	$0
Common Stock Repurchased	-$262.0K
Common Dividends Paid	-$674.0K
Other Financing Activities	$28M
NET CASH FROM FINANCING	$27M
FREE CASH FLOW	$7M
Net Change in Cash	$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$13M
Short-Term Investments	$142M
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$160M
PP&E (Net)	$9M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$310M
Tax Assets	$0
Other Non-Current Assets	$57M
TOTAL NON-CURRENT ASSETS	$377M
TOTAL ASSETS	$537M
Account Payables	$2M
Short-Term Debt	$18M
Deferred Revenue	$0
Other Current Liabilities	$457M
TOTAL CURRENT LIABILITIES	$476M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$476M
Common Stock	$7M
Additional Paid-In Capital	$28M
Retained Earnings	$26M
Treasury Stock	$0
Accum. Other Comp. Income	$44.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$61M
Minority Interest	$0
TOTAL EQUITY	$61M
TOTAL LIABILITIES & EQUITY	$537M
Total Debt	$18M
Net Debt	$5M