Dime Commercial Bancshares (DCOM) Q4 FY2023 earnings: revenue $83 million, down 21.9% on the year

Dime Commercial Bancshares, Inc. (DCOM) reported revenue of $83 million for Q4 FY2023, the quarter ended 31 December 2023, down 21.9% on the same quarter a year earlier. Net income was $16 million, down 59.3% on the year, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.

Revenue$83 milliondown 21.9%

Net income$16 milliondown 59.3%

Diluted EPS$0.37

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	83.0	84.4	n/a	n/a
Interest expense	84.6	81.4	n/a	n/a
Pre-tax income	25.3	23.1	n/a	n/a
Income tax	9.0	8.1	n/a	n/a
Effective tax rate	35.6%	35.1%	n/a
Net income	16.3	15.0	n/a	n/a
Net margin	19.6%	17.8%	n/a
Diluted EPS	$0.37	$0.34	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	-40.0	86.3	n/a	n/a
Cash from investing	65.4	42.3	n/a	n/a
Cash from financing	73.3	-222	n/a	n/a
Depreciation and amortisation	1.5	1.5	n/a	n/a
Share-based compensation	1.4	0.5	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Dividends paid	9.3	9.5	n/a	n/a
Diluted shares, weighted	38m	38m	n/a	n/a
Shares outstanding at period end	39m	39m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,226	1,204	n/a	n/a
Deposits	10,531	10,529	n/a	n/a
Other liabilities	1,879	1,918	n/a	n/a
Total liabilities and equity	13,636	13,651	n/a	n/a
Fixed assets	44.9	45.1	n/a	n/a
Goodwill	156	156	n/a	n/a
Intangible assets	5.1	5.4	n/a	n/a
Securities held for sale or to maturity	1,481	1,470	n/a	n/a
Loans	10,702	10,778	n/a	n/a
Cash and equivalents	458	359	n/a	n/a
Other assets	790	838	n/a	n/a
Total assets	13,636	13,651	n/a	n/a

Questions

What was Dime Commercial Bancshares' revenue in Q4 FY2023?

Dime Commercial Bancshares (DCOM) reported revenue of $83 million for Q4 FY2023, the quarter ended 31 December 2023, down 21.9% on the same quarter a year earlier.

How much did Dime Commercial Bancshares earn in Q4 FY2023?

Net income for Q4 FY2023 was $16 million, down 59.3% on the year, and diluted earnings per share $0.37.

When did Dime Commercial Bancshares report Q4 FY2023 results?

Dime Commercial Bancshares filed its 10-K for the year that ended with the quarter on 22 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	84.4	83.0	82.0	87.3	87.6	57.2	104	110	116	124	124	126
Interest expense	81.4	84.6	89.5	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	23.1	25.3	24.3	26.0	18.2	-17.1	28.7	40.2	40.1	47.8	48.5	47.9
Tax rate	35%	36%	27%	29%	27%	n/a	25%	26%	31%	33%	29%	27%
Net income	15.0	16.3	17.7	18.5	13.3	-20.4	21.5	29.7	27.7	31.9	34.6	34.8
Net margin	18%	20%	22%	21%	15%	-36%	21%	27%	24%	26%	28%	28%
Diluted EPS	$0.34	$0.37	$0.41	$0.43	$0.29	-$0.58	$0.45	$0.64	$0.59	$0.68	$0.75	$0.75
Operating cash flow	86.3	-40.0	30.7	12.6	-33.3	89.0	65.4	23.1	52.1	46.0	48.0	56.1
Capital expenditure	n/a	n/a	n/a	n/a	0.8	n/a	n/a	n/a	0.9	n/a	n/a	n/a
Free cash flow	n/a	n/a	n/a	n/a	-34.1	n/a	n/a	n/a	51.2	n/a	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	9.5	9.3	9.5	9.5	9.5	9.5	10.7	10.7	10.7	10.8	10.8	10.8
Shares outstanding	39m	39m	39m	39m	39m	44m	44m	44m	44m	44m	44m	44m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 22 February 2024, accession 0000846617-24-000018: the filing on EDGAR. All of Dime Commercial Bancshares, Inc.'s filings: EDGAR company page.

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