$EVTC
Evertec Inc

2014 Q4 Form 10-Q Financial Statement

#000119312514400904 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $94.10M $88.88M $91.33M
YoY Change 0.0% 1.68% 2.42%
Cost Of Revenue $41.80M $132.0K $595.0K
YoY Change -0.24% -91.59% -76.26%
Gross Profit $52.40M $88.75M $90.74M
YoY Change 0.38% 3.38% 4.69%
Gross Profit Margin 55.69% 99.85% 99.35%
Selling, General & Admin $15.60M $7.104M $10.46M
YoY Change 87.95% -20.98% -17.12%
% of Gross Profit 29.77% 8.0% 11.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.50M $3.800M $3.800M
YoY Change -4.62% -7.32% -7.32%
% of Gross Profit 31.49% 4.28% 4.19%
Operating Expenses $32.10M $7.104M $10.46M
YoY Change 25.39% -20.98% -17.12%
Operating Profit $20.30M $26.46M $25.43M
YoY Change -23.68% 21.02% 50.13%
Interest Expense -$5.700M $6.370M $6.501M
YoY Change -8.06% -0.52% -33.3%
% of Operating Profit -28.08% 24.07% 25.57%
Other Income/Expense, Net $200.0K -$6.287M -$5.694M
YoY Change -84.62% 10.24% -93.45%
Pretax Income $14.80M $20.17M $19.74M
YoY Change -31.8% 24.83% -128.21%
Income Tax $3.700M $1.082M $1.962M
% Of Pretax Income 25.0% 5.36% 9.94%
Net Earnings $11.10M $19.09M $17.77M
YoY Change -44.5% 28.97% -127.37%
Net Earnings / Revenue 11.8% 21.48% 19.46%
Basic Earnings Per Share $0.24 $0.23
Diluted Earnings Per Share $142.3K $0.24 $0.22
COMMON SHARES
Basic Shares Outstanding 77.97M shares 78.67M shares 78.41M shares
Diluted Shares Outstanding 79.22M shares 79.20M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.10M $29.20M $27.80M
YoY Change 42.67% 4.29% 41.84%
Cash & Equivalents $32.11M $29.23M $27.83M
Short-Term Investments
Other Short-Term Assets $26.40M $31.40M $29.80M
YoY Change -4.0% 15.02% 0.68%
Inventory
Prepaid Expenses
Receivables $70.68M $68.97M $71.48M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $129.1M $129.6M $129.2M
YoY Change 9.1% 4.09% 1.82%
LONG-TERM ASSETS
Property, Plant & Equipment $29.54M $29.48M $29.37M
YoY Change -11.15% -7.85% -11.08%
Goodwill $368.8M $369.3M $369.2M
YoY Change -1.15% -1.05% -1.1%
Intangibles
YoY Change
Long-Term Investments $11.76M $11.49M $11.29M
YoY Change 10.5% 6.14% 4.99%
Other Assets $11.42M $12.34M $13.75M
YoY Change -37.13% -37.25% -27.55%
Total Long-Term Assets $756.2M $760.9M $770.7M
YoY Change -5.82% -6.18% -6.06%
TOTAL ASSETS
Total Short-Term Assets $129.1M $129.6M $129.2M
Total Long-Term Assets $756.2M $760.9M $770.7M
Total Assets $885.3M $890.4M $899.9M
YoY Change -3.91% -4.81% -5.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.75M $14.75M $14.26M
YoY Change -13.77% -1.1% -44.29%
Accrued Expenses $26.05M $26.02M $29.16M
YoY Change -1.95% -9.57% -3.63%
Deferred Revenue
YoY Change
Short-Term Debt $23.00M $8.000M $23.00M
YoY Change -55.08% 30.46% 165.5%
Long-Term Debt Due $19.00M $19.00M $19.00M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $91.06M $78.93M $96.18M
YoY Change -26.42% 7.37% 8.42%
LONG-TERM LIABILITIES
Long-Term Debt $647.6M $652.1M $656.6M
YoY Change -2.72% -2.7% -2.68%
Other Long-Term Liabilities $20.46M $238.0K $251.0K
YoY Change 6044.44% -28.53% -60.35%
Total Long-Term Liabilities $668.0M $652.3M $656.9M
YoY Change 0.3% -2.71% -2.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.06M $78.93M $96.18M
Total Long-Term Liabilities $668.0M $652.3M $656.9M
Total Liabilities $790.5M $751.6M $773.8M
YoY Change -2.41% -1.24% -0.88%
SHAREHOLDERS EQUITY
Retained Earnings $40.84M $60.92M $49.70M
YoY Change 38.91% 246.91% 353.85%
Common Stock $779.0K $787.0K $786.0K
YoY Change -0.51% -3.91% -4.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.84M $138.9M $126.1M
YoY Change
Total Liabilities & Shareholders Equity $885.3M $890.4M $899.9M
YoY Change -3.91% -4.81% -5.0%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $11.10M $19.09M $17.77M
YoY Change -44.5% 28.97% -127.37%
Depreciation, Depletion And Amortization $16.50M $3.800M $3.800M
YoY Change -4.62% -7.32% -7.32%
Cash From Operating Activities $36.00M $36.30M $37.50M
YoY Change -26.83% 31.52% -178.62%
INVESTING ACTIVITIES
Capital Expenditures -$9.000M -$6.900M -$7.200M
YoY Change -21.74% 46.81% -7.69%
Acquisitions
YoY Change
Other Investing Activities $400.0K -$800.0K $0.00
YoY Change -200.0% 700.0% -100.0%
Cash From Investing Activities -$8.600M -$7.700M -$7.200M
YoY Change -27.12% 60.42% -10.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $26.20M
YoY Change 4.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.30M -27.10M -29.70M
YoY Change -43.36% 88.19% -172.09%
NET CHANGE
Cash From Operating Activities 36.00M 36.30M 37.50M
Cash From Investing Activities -8.600M -7.700M -7.200M
Cash From Financing Activities -24.30M -27.10M -29.70M
Net Change In Cash 3.100M 1.500M 600.0K
YoY Change -156.36% -82.14% -104.14%
FREE CASH FLOW
Cash From Operating Activities $36.00M $36.30M $37.50M
Capital Expenditures -$9.000M -$6.900M -$7.200M
Free Cash Flow $45.00M $43.20M $44.70M
YoY Change -25.86% 33.75% -212.03%

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FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-300000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-249000
CY2014Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
378000
CY2014Q3 us-gaap Revenues
Revenues
88642000
CY2014Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
40958000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
19091000
CY2014Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
241000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
600000
CY2014Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1056000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3800000
CY2014Q3 us-gaap Interest Expense
InterestExpense
6370000
CY2014Q3 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
0
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7104000
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12700000
CY2014Q3 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-400000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1082000
CY2014Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-923000
CY2014Q3 us-gaap Cost Of Revenue
CostOfRevenue
68000
CY2014Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
16453000
CY2014Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
4000
CY2014Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2014Q3 evtc Current Territory Tax Expense Benefit
CurrentTerritoryTaxExpenseBenefit
1687000
CY2014Q3 evtc Rent Expense For Telecommunications And Other Equipment
RentExpenseForTelecommunicationsAndOtherEquipment
1500000
CY2014Q3 evtc Business Solutions
BusinessSolutions
43804000
CY2014Q3 evtc Cost Of Revenues Excluding Depreciation And Amortization
CostOfRevenuesExcludingDepreciationAndAmortization
38625000
CY2014Q3 evtc Deferred Territory Income Tax Expense Benefit
DeferredTerritoryIncomeTaxExpenseBenefit
-518000
CY2014Q3 evtc Rent Expense For Office Facilities And Real Estate
RentExpenseForOfficeFacilitiesAndRealEstate
2000000
CY2014Q3 evtc Merchant Acquiring Net
MerchantAcquiringNet
19227000
CY2014Q3 evtc Payment Processing Revenue From Affiliates
PaymentProcessingRevenueFromAffiliates
7192000
CY2014Q3 evtc Rent And Other Fees Paid To Related Party
RentAndOtherFeesPaidToRelatedParty
1999000

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