ATGE FY 2008 Earnings Report — Adtalem Global Education Inc. Revenue & Financial Results | Market Cap Arena

Adtalem Global Education Inc.ATGE

FY 2008 Earnings

Reported August 27, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.1B	—	$933M	—	17.0%
Op. Income	$162M	—	$102M	—	58.7%
Gross Margin	53.9%	—	47.9%	—	6.1pp
Net Margin	11.5%	—	8.2%	—	3.3pp
EPS (Diluted)	$1.73	—	$1.07	—	61.7%
Free Cash Flow	$136M	—	$87M	—	56.8%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$503M
GROSS PROFIT	$589M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$423M
SG&A Expenses	$423M
Other Expenses	$4M
Operating Expenses	$426M
Cost & Expenses	$929M
OPERATING INCOME	$162M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$10M
INCOME BEFORE TAX	$172M
Income Tax Expense	$47M
Net Income from Continuing Ops	$126M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$126M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$126M
D&A	$40M
EBIT	$162M
EBITDA	$202M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$503M
GROSS PROFIT	$589M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$423M
SG&A Expenses	$423M
Other Expenses	$4M
Operating Expenses	$426M
Cost & Expenses	$929M
OPERATING INCOME	$162M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$10M
INCOME BEFORE TAX	$172M
Income Tax Expense	$47M
Net Income from Continuing Ops	$126M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$126M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$126M
D&A	$40M
EBIT	$162M
EBITDA	$202M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$126M
Depreciation & Amortization	$40M
Stock-Based Compensation	$6M
Deferred Income Tax	$3M
Other Non-Cash Items	$56M
Change in Working Capital	-$31M
OPERATING CASH FLOW	$199M
Capital Expenditure	-$63M
Acquisitions (Net)	-$28M
Purchases of Investments	-$247M
Sales/Maturities of Investments	$185M
Other Investing Activities	$53M
NET CASH FROM INVESTING	-$100M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$8M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$11M
FREE CASH FLOW	$136M
Net Change in Cash	$88M

Balance Sheet

Item	Amount
Cash & Equivalents	$217M
Short-Term Investments	$2M
Net Receivables	$55M
Inventory	$0
Other Current Assets	$19M
TOTAL CURRENT ASSETS	$326M
PP&E (Net)	$239M
Goodwill	$308M
Intangible Assets	$63M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$83M
TOTAL NON-CURRENT ASSETS	$693M
TOTAL ASSETS	$1.0B
Account Payables	$70M
Short-Term Debt	$0
Deferred Revenue	$41M
Other Current Liabilities	$17M
TOTAL CURRENT LIABILITIES	$211M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22M
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$52M
TOTAL LIABILITIES	$262M
Common Stock	$724.0K
Additional Paid-In Capital	$168M
Retained Earnings	$627M
Treasury Stock	-$37M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$756M
Minority Interest	$0
TOTAL EQUITY	$756M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$0
Net Debt	-$217M