$EVTC
Evertec Inc

2013 Q1 Form 10-Q Financial Statement

#000119312513221958 Filed on May 15, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $87.34M $82.49M
YoY Change 5.88%
Cost Of Revenue $2.604M $37.70M
YoY Change -93.09%
Gross Profit $84.74M $44.70M
YoY Change 89.56%
Gross Profit Margin 97.02% 54.19%
Selling, General & Admin $8.863M $8.987M
YoY Change -1.38%
% of Gross Profit 10.46% 20.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.000M $4.000M
YoY Change 0.0%
% of Gross Profit 4.72% 8.95%
Operating Expenses $8.863M $8.987M
YoY Change -1.38%
Operating Profit $20.40M $17.84M
YoY Change 14.36%
Interest Expense $15.26M $11.18M
YoY Change 36.58%
% of Operating Profit 74.83% 62.65%
Other Income/Expense, Net -$14.88M -$13.25M
YoY Change 12.29%
Pretax Income $5.523M $4.590M
YoY Change 20.33%
Income Tax $51.00K $1.056M
% Of Pretax Income 0.92% 23.01%
Net Earnings $5.472M $3.534M
YoY Change 54.84%
Net Earnings / Revenue 6.27% 4.28%
Basic Earnings Per Share $0.08 $0.05
Diluted Earnings Per Share $0.07 $0.05
COMMON SHARES
Basic Shares Outstanding 72.74M shares 72.65B shares
Diluted Shares Outstanding 76.88M shares 76.32B shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.10M
YoY Change
Cash & Equivalents $34.13M $83.29M
Short-Term Investments
Other Short-Term Assets $28.50M
YoY Change
Inventory
Prepaid Expenses
Receivables $74.75M
Other Receivables $0.00
Total Short-Term Assets $137.4M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $35.09M
YoY Change
Goodwill $373.7M
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.39M
YoY Change
Other Assets $24.03M
YoY Change
Total Long-Term Assets $836.5M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $137.4M
Total Long-Term Assets $836.5M
Total Assets $973.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.82M
YoY Change
Accrued Expenses $43.67M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $8.663M
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $79.89M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $734.7M
YoY Change
Other Long-Term Liabilities $3.040M
YoY Change
Total Long-Term Liabilities $737.8M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $79.89M
Total Long-Term Liabilities $737.8M
Total Liabilities $843.3M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $75.89M
YoY Change
Common Stock $728.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.6M
YoY Change
Total Liabilities & Shareholders Equity $973.9M
YoY Change

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $5.472M $3.534M
YoY Change 54.84%
Depreciation, Depletion And Amortization $4.000M $4.000M
YoY Change 0.0%
Cash From Operating Activities $33.80M $30.70M
YoY Change 10.1%
INVESTING ACTIVITIES
Capital Expenditures $2.257M $2.532M
YoY Change -10.86%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$200.0K
YoY Change -150.0%
Cash From Investing Activities -$4.300M -$3.900M
YoY Change 10.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.0K
YoY Change
Debt Paid & Issued, Net $2.671M
YoY Change
Cash From Financing Activities -21.00M 300.0K
YoY Change -7100.0%
NET CHANGE
Cash From Operating Activities 33.80M 30.70M
Cash From Investing Activities -4.300M -3.900M
Cash From Financing Activities -21.00M 300.0K
Net Change In Cash 8.500M 27.10M
YoY Change -68.63%
FREE CASH FLOW
Cash From Operating Activities $33.80M $30.70M
Capital Expenditures $2.257M $2.532M
Free Cash Flow $31.54M $28.17M
YoY Change 11.98%

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(i) at a redemption price of 100% plus a make-whole premium, plus accrued and unpaid interest, on April 30, 2013 (the “Full Redemption”). On April 17, 2013, the Co-Issuers and the Trustee entered into a Satisfaction and Discharge Agreement whereby EVERTEC Group caused to be irrevocably deposited with the Trustee, to satisfy and to discharge the Co-Issuers’ obligations under the Indenture (a) a portion of the net cash proceeds received by the Company in the Initial Public Offering to Holdings, which contributed such proceeds to EVERTEC Group, in an amount sufficient to effect the Partial Redemption on April 29, 2013 and (b) proceeds from the Credit Agreement described above in an amount sufficient to effect the Full Redemption on April 30, 2013. On April 29, 2013, the Partial Redemption was effected and on April 30, 2013, the Full Redemption was effected.
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