WTBA FY 2016 Earnings Report — West Bancorporation, Inc. Revenue & Financial Results | Market Cap Arena

West Bancorporation, Inc.WTBA

FY 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$72M	—	$67M	—	6.9%
Op. Income	$33M	—	$31M	—	4.8%
Gross Margin	87.7%	—	89.9%	—	-2.2pp
Net Margin	31.9%	—	32.2%	—	-0.3pp
EPS (Diluted)	$1.42	—	$1.35	—	5.2%
Free Cash Flow	$17M	—	$29M	—	-39.1%

Revenue Flow

Item	Amount
REVENUE	$72M
Cost of Revenue	$9M
GROSS PROFIT	$63M
R&D Expenses	$0
Selling & Marketing	$231.0K
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$8M
Operating Expenses	$30M
Cost & Expenses	$39M
OPERATING INCOME	$33M
Interest Income	$65M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$10M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$5M
EBIT	$33M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$72M
Cost of Revenue	$9M
GROSS PROFIT	$63M
R&D Expenses	$0
Selling & Marketing	$231.0K
General & Administrative	$22M
SG&A Expenses	$22M
Other Expenses	$8M
Operating Expenses	$30M
Cost & Expenses	$39M
OPERATING INCOME	$33M
Interest Income	$65M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$10M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$5M
EBIT	$33M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$5M
Stock-Based Compensation	$2M
Deferred Income Tax	$89.0K
Other Non-Cash Items	-$156.0K
Change in Working Capital	$329.0K
OPERATING CASH FLOW	$30M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$4M
Sales/Maturities of Investments	$61M
Other Investing Activities	-$151M
NET CASH FROM INVESTING	-$105M
Net Debt Issuance	-$3M
Common Stock Repurchased	-$394.0K
Common Dividends Paid	-$11M
Other Financing Activities	$94M
NET CASH FROM FINANCING	$79M
FREE CASH FLOW	$17M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$41M
Short-Term Investments	$261M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$307M
PP&E (Net)	$23M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.4B
Tax Assets	$7M
Other Non-Current Assets	$85M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$1.9B
Account Payables	$0
Short-Term Debt	$10M
Deferred Revenue	$0
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$125M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$125M
TOTAL LIABILITIES	$1.7B
Common Stock	$3M
Additional Paid-In Capital	$21M
Retained Earnings	$142M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$165M
Minority Interest	$0
TOTAL EQUITY	$165M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$135M
Net Debt	$94M