$EVTC
Evertec Inc

2016 Q4 Form 10-Q Financial Statement

#000119312516758906 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $101.9M $94.47M $92.94M
YoY Change 5.93% 1.64% 4.57%
Cost Of Revenue $48.70M $381.0K $389.0K
YoY Change 14.32% -2.06% 194.7%
Gross Profit $53.20M $94.09M $92.55M
YoY Change -0.56% 1.66% 4.29%
Gross Profit Margin 52.21% 99.6% 99.58%
Selling, General & Admin $12.80M $10.82M $10.39M
YoY Change 25.49% 4.1% 46.28%
% of Gross Profit 24.06% 11.5% 11.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.10M $3.700M $3.900M
YoY Change -0.66% -5.13% 2.63%
% of Gross Profit 28.38% 3.93% 4.21%
Operating Expenses $27.80M $10.82M $10.39M
YoY Change 9.45% 4.1% 46.28%
Operating Profit $25.40M $27.01M $21.47M
YoY Change -9.61% 25.77% -18.84%
Interest Expense -$6.200M $6.276M $6.003M
YoY Change 6.9% 4.55% -5.76%
% of Operating Profit -24.41% 23.24% 27.95%
Other Income/Expense, Net -$1.200M -$5.657M -$5.485M
YoY Change -233.33% 3.14% -12.76%
Pretax Income $18.00M $21.35M $15.99M
YoY Change -22.41% 33.53% -20.74%
Income Tax $2.000M $1.639M -$9.347M
% Of Pretax Income 11.11% 7.68% -58.46%
Net Earnings $16.00M $19.68M $25.34M
YoY Change -50.92% -22.32% 32.71%
Net Earnings / Revenue 15.7% 20.83% 27.26%
Basic Earnings Per Share $0.27 $0.33
Diluted Earnings Per Share $217.4K $0.26 $0.33
COMMON SHARES
Basic Shares Outstanding 73.26M shares 73.87M shares 77.16M shares
Diluted Shares Outstanding 74.29M shares 77.29M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.90M $45.00M $40.40M
YoY Change 80.84% 11.39% 38.36%
Cash & Equivalents $51.92M $44.99M $40.40M
Short-Term Investments
Other Short-Term Assets $28.50M $30.90M $41.20M
YoY Change -11.76% -25.0% 31.21%
Inventory
Prepaid Expenses
Receivables $77.80M $67.45M $68.43M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $158.3M $143.3M $150.0M
YoY Change 17.47% -4.46% 15.79%
LONG-TERM ASSETS
Property, Plant & Equipment $38.93M $37.70M $33.28M
YoY Change 14.07% 13.27% 12.89%
Goodwill $371.0M $371.4M $368.5M
YoY Change 0.77% 0.77% -0.21%
Intangibles
YoY Change
Long-Term Investments $12.25M $12.25M $12.28M
YoY Change -0.1% -0.28% 6.87%
Other Assets $6.110M $3.883M $9.078M
YoY Change 160.33% -57.23% -26.4%
Total Long-Term Assets $727.4M $723.7M $732.9M
YoY Change -0.21% -1.25% -3.68%
TOTAL ASSETS
Total Short-Term Assets $158.3M $143.3M $150.0M
Total Long-Term Assets $727.4M $723.7M $732.9M
Total Assets $885.7M $867.0M $882.9M
YoY Change 2.55% -1.8% -0.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.85M $27.17M $22.42M
YoY Change 92.52% 21.2% 52.0%
Accrued Expenses $34.24M $37.45M $32.92M
YoY Change -8.22% 13.76% 26.49%
Deferred Revenue
YoY Change
Short-Term Debt $28.00M $16.00M $18.00M
YoY Change 64.71% -11.11% 125.0%
Long-Term Debt Due $19.79M $28.38M $20.88M
YoY Change -13.02% 35.93% 9.87%
Total Short-Term Liabilities $129.2M $118.2M $106.0M
YoY Change 26.01% 11.6% 34.23%
LONG-TERM LIABILITIES
Long-Term Debt $599.7M $597.2M $632.1M
YoY Change -3.17% -5.53% -3.06%
Other Long-Term Liabilities $16.38M $15.39M $2.695M
YoY Change 35.46% 471.17% 1032.35%
Total Long-Term Liabilities $616.0M $612.5M $634.8M
YoY Change -2.43% -3.51% -2.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $129.2M $118.2M $106.0M
Total Long-Term Liabilities $616.0M $612.5M $634.8M
Total Liabilities $777.5M $761.4M $764.6M
YoY Change 1.57% -0.43% 1.74%
SHAREHOLDERS EQUITY
Retained Earnings $116.3M $116.1M $95.04M
YoY Change 22.04% 22.19% 55.99%
Common Stock $726.0K $732.0K $762.0K
YoY Change -3.2% -3.94% -3.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $104.7M $102.2M $118.3M
YoY Change
Total Liabilities & Shareholders Equity $885.7M $867.0M $882.9M
YoY Change 2.55% -1.8% -0.85%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $16.00M $19.68M $25.34M
YoY Change -50.92% -22.32% 32.71%
Depreciation, Depletion And Amortization $15.10M $3.700M $3.900M
YoY Change -0.66% -5.13% 2.63%
Cash From Operating Activities $43.50M $55.20M $47.60M
YoY Change 14.17% 15.97% 31.13%
INVESTING ACTIVITIES
Capital Expenditures -$10.80M -$12.50M -$13.70M
YoY Change -39.66% -8.76% 98.55%
Acquisitions
YoY Change
Other Investing Activities -$13.10M -$700.0K -$7.300M
YoY Change -870.59% -90.41% 812.5%
Cash From Investing Activities -$23.90M -$13.20M -$21.00M
YoY Change 47.53% -37.14% 172.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.30M -32.80M -25.00M
YoY Change -51.49% 31.2% -7.75%
NET CHANGE
Cash From Operating Activities 43.50M 55.20M 47.60M
Cash From Investing Activities -23.90M -13.20M -21.00M
Cash From Financing Activities -16.30M -32.80M -25.00M
Net Change In Cash 3.300M 9.200M 1.600M
YoY Change -128.21% 475.0% 6.67%
FREE CASH FLOW
Cash From Operating Activities $43.50M $55.20M $47.60M
Capital Expenditures -$10.80M -$12.50M -$13.70M
Free Cash Flow $54.30M $67.70M $61.30M
YoY Change -3.04% 10.44% 41.9%

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OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
83000
CY2016Q3 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
87000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
27007000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
19680000
CY2016Q3 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
51000
CY2016Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
500000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18722000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
19711000
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-6189000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
489000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5657000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19677000
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
43000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21350000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1200000
CY2016Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-93000
CY2016Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-921000
CY2016Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3700000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1639000
CY2016Q3 us-gaap Interest Expense
InterestExpense
6276000
CY2016Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-6000
CY2016Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
86000
CY2016Q3 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1324000
CY2016Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2560000
CY2016Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
14889000
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10818000
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
67460000
CY2016Q3 us-gaap Cost Of Revenue
CostOfRevenue
381000
CY2016Q3 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-270000
CY2016Q3 us-gaap Restricted Stock Award Forfeitures Dividends
RestrictedStockAwardForfeituresDividends
3000
CY2016Q3 evtc Other Non Operating Income Expense Other
OtherNonOperatingIncomeExpenseOther
489000
CY2016Q3 evtc Current Territory Tax Expense Benefit
CurrentTerritoryTaxExpenseBenefit
1150000
CY2016Q3 evtc Merchant Acquiring Net
MerchantAcquiringNet
21970000
CY2016Q3 evtc Payment Processing
PaymentProcessing
27584000
CY2016Q3 evtc Rent And Other Fees Paid To Related Party
RentAndOtherFeesPaidToRelatedParty
2088000
CY2016Q3 evtc Rent Expense For Office Facilities And Real Estate
RentExpenseForOfficeFacilitiesAndRealEstate
2200000
CY2016Q3 evtc Business Solutions Revenue From Affiliates
BusinessSolutionsRevenueFromAffiliates
35109000
CY2016Q3 evtc Deferred Territory Income Tax Expense Benefit
DeferredTerritoryIncomeTaxExpenseBenefit
-558000
CY2016Q3 evtc Business Solutions
BusinessSolutions
44913000
CY2016Q3 evtc Payment Processing Revenue From Affiliates
PaymentProcessingRevenueFromAffiliates
7913000
CY2016Q3 evtc Rent Expense For Telecommunications And Other Equipment
RentExpenseForTelecommunicationsAndOtherEquipment
1500000
CY2016Q3 evtc Cost Of Revenues Excluding Depreciation And Amortization
CostOfRevenuesExcludingDepreciationAndAmortization
41753000

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