Southern Connecticut Bancorp (Southern Connecticut Bancorp) Net Income : $-0.20 Mil (TTM As of Mar. 2013)

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What is Southern Connecticut Bancorp Net Income?

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Southern Connecticut Bancorp's Net Income for the three months ended in Mar. 2013 was $-0.09 Mil. Its Net Income for the trailing twelve months (TTM) ended in Mar. 2013 was $-0.20 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Southern Connecticut Bancorp's Earnings per Share (Diluted) for the three months ended in Mar. 2013 was $-0.03.

Southern Connecticut Bancorp Net Income Historical Data

The historical data trend for Southern Connecticut Bancorp's Net Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Southern Connecticut Bancorp Net Income Chart

Southern Connecticut Bancorp Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Net Income

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0.13

-2.91

-1.37

-2.74

-0.17

Southern Connecticut Bancorp Quarterly Data
	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13
Net Income	Get a 7-Day Free Trial															-0.06	-0.04	0.16	-0.24	-0.09

Southern Connecticut Bancorp Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Southern Connecticut Bancorp's Net Income for the fiscal year that ended in Dec. 2012 is calculated as

	Net Income		(A: Dec. 2012 )
=	Pre-Tax Income	+	Tax Provision	+	Net Income (Discontinued Operations)	+	Others
=	-0.172	+	0	+	0	+	0
=	-0.17

Southern Connecticut Bancorp's Net Income for the quarter that ended in Mar. 2013 is calculated as

	Net Income		(Q: Mar. 2013 )
=	Pre-Tax Income	+	Tax Provision	+	Net Income (Discontinued Operations)	+	Others
=	-0.086	+	0	+	0	+	0
=	-0.09

Net Income for the trailing twelve months (TTM) ended in Mar. 2013 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.20 Mil.

Southern Connecticut Bancorp (DELISTED:SSE) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Southern Connecticut Bancorp's Earnings per Share (Diluted) (EPS) for the quarter that ended in Mar. 2013 is calculated as

Earnings per Share (Diluted) (Q: Mar. 2013 )	=	(Net Income	-	Preferred Dividends)	/	Shares Outstanding (Diluted Average)
	=	(-0.086	-	0)	/	2.810
	=	-0.03

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.

Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.

Southern Connecticut Bancorp Net Income Related Terms

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Southern Connecticut Bancorp (Southern Connecticut Bancorp) Business Description

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Southern Connecticut Bancorp, Inc., a Connecticut corporation was incorporated on November 8, 2000. It is a bank holding company The Company owns 100% of the capital stock of The Bank of Southern Connecticut (the 'Bank'), a Connecticut-chartered bank. The Bank operates branches at four locations, including downtown New Haven, the Amity/Westville section of New Haven, Branford and North Haven. It focuses on serving the banking needs of small to medium-sized businesses, professionals and professional corporations, and their owners and employees in the Greater New Haven Market. The Bank offers loans to businesses and individuals in its service area, including commercial and business loans, industrial loans, personal loans, commercial and home mortgage loans, home equity loans and automobile loans. The Bank has attracted a base of core deposits, including interest bearing and non-interest bearing checking accounts, money market accounts, savings accounts, sweep accounts, NOW accounts, repurchase agreements, and a variety of certificates of deposits and IRA accounts. The primary sources of deposits have been and are expected to continue to be small to medium-sized businesses, professionals (lawyers, doctors, accountants, etc.) and professional corporations, and their owners and employees. The Bank obtains these deposits through personal solicitation by its officers and directors, outside programs and advertisements published and/or broadcasted in the local media. It offers internet-banking services to its customers, including commercial cash management services and personal banking services. The Bank offers remote deposit capture, which offers check deposit capabilities for customers from their place of business. It also offers drive-in teller services, automated teller services, wire transfer, lock box and safe deposit services. The Bank provides a range of other services and products, including cashier's checks, money orders, travelers' checks, bank-by-mail, direct deposit and U.S. Savings Bonds. It is associated with a shared network of automated teller machines that its customers are able to use throughout Connecticut and other regions. The Company operates in a heavily regulated industry and is subject to increasing regulatory review and scrutiny from the Federal Reserve Board, the Connecticut Banking Commissioner, and the FDIC. There are numerous banks and other financial institutions serving the Greater New Haven Market posing significant competition to attract deposits and loans. The Banks and bank holding companies are extensively regulated under both federal and state law.

Southern Connecticut Bancorp (Southern Connecticut Bancorp) Headlines

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