WHG FY 2017 Earnings Report — Westwood Holdings Group, Inc. Revenue & Financial Results | Market Cap Arena

Westwood Holdings Group, Inc.WHG

FY 2017 Earnings

Reported February 22, 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	$134M	—	$123M	—	8.7%
Op. Income	$34M	—	$34M	—	-0.3%
Gross Margin	51.4%	—	50.0%	—	1.4pp
Net Margin	14.9%	—	18.4%	—	-3.5pp
EPS (Diluted)	$2.38	—	$2.77	—	-14.1%
Free Cash Flow	$47M	—	$46M	—	2.8%

Revenue Flow

Item	Amount
REVENUE	$134M
Cost of Revenue	$65M
GROSS PROFIT	$69M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$23M
SG&A Expenses	$25M
Other Expenses	$10M
Operating Expenses	$35M
Cost & Expenses	$100M
OPERATING INCOME	$34M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$14M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$3M
EBIT	$39M
EBITDA	$42M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$134M
Cost of Revenue	$65M
GROSS PROFIT	$69M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$23M
SG&A Expenses	$25M
Other Expenses	$10M
Operating Expenses	$35M
Cost & Expenses	$100M
OPERATING INCOME	$34M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$14M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$3M
EBIT	$39M
EBITDA	$42M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$3M
Stock-Based Compensation	$16M
Deferred Income Tax	$8M
Other Non-Cash Items	$5M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$48M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$6M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1M
Net Debt Issuance	$0
Common Stock Repurchased	-$5M
Common Dividends Paid	-$22M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	-$29M
FREE CASH FLOW	$47M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$54M
Short-Term Investments	$51M
Net Receivables	$22M
Inventory	$0
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$138M
PP&E (Net)	$4M
Goodwill	$27M
Intangible Assets	$20M
Long-Term Investments	$0
Tax Assets	$3M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$55M
TOTAL ASSETS	$193M
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$32M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$5M
TOTAL LIABILITIES	$36M
Common Stock	$100.0K
Additional Paid-In Capital	$179M
Retained Earnings	$29M
Treasury Stock	-$50M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$156M
Minority Interest	$0
TOTAL EQUITY	$156M
TOTAL LIABILITIES & EQUITY	$193M
Total Debt	$0
Net Debt	-$54M