ATGE FY 2009 Earnings Report — Adtalem Global Education Inc. Revenue & Financial Results | Market Cap Arena

Adtalem Global Education Inc.ATGE

FY 2009 Earnings

Reported August 26, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.1B	—	33.9%
Op. Income	$235M	—	$162M	—	44.7%
Gross Margin	54.2%	—	53.9%	—	0.3pp
Net Margin	11.3%	—	11.5%	—	-0.2pp
EPS (Diluted)	$2.28	—	$1.73	—	31.8%
Free Cash Flow	$175M	—	$136M	—	29.2%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$670M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$548M
SG&A Expenses	$548M
Other Expenses	$9M
Operating Expenses	$557M
Cost & Expenses	$1.2B
OPERATING INCOME	$235M
Interest Income	$5M
Interest Expense	$3M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$237M
Income Tax Expense	$72M
Net Income from Continuing Ops	$166M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$166M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$166M
D&A	$50M
EBIT	$240M
EBITDA	$291M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$670M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$548M
SG&A Expenses	$548M
Other Expenses	$9M
Operating Expenses	$557M
Cost & Expenses	$1.2B
OPERATING INCOME	$235M
Interest Income	$5M
Interest Expense	$3M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$237M
Income Tax Expense	$72M
Net Income from Continuing Ops	$166M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$166M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$166M
D&A	$50M
EBIT	$240M
EBITDA	$291M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$166M
Depreciation & Amortization	$50M
Stock-Based Compensation	$8M
Deferred Income Tax	$344.0K
Other Non-Cash Items	$76M
Change in Working Capital	-$50M
OPERATING CASH FLOW	$250M
Capital Expenditure	-$74M
Acquisitions (Net)	-$315M
Purchases of Investments	-$63.0K
Sales/Maturities of Investments	$0
Other Investing Activities	$39.0K
NET CASH FROM INVESTING	-$389M
Net Debt Issuance	$112M
Common Stock Repurchased	-$34M
Common Dividends Paid	-$10M
Other Financing Activities	$18M
NET CASH FROM FINANCING	$86M
FREE CASH FLOW	$175M
Net Change in Cash	-$52M

Balance Sheet

Item	Amount
Cash & Equivalents	$165M
Short-Term Investments	$60M
Net Receivables	$104M
Inventory	$0
Other Current Assets	$27M
TOTAL CURRENT ASSETS	$385M
PP&E (Net)	$308M
Goodwill	$513M
Intangible Assets	$203M
Long-Term Investments	$13M
Tax Assets	$0
Other Non-Current Assets	$12M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.4B
Account Payables	$72M
Short-Term Debt	$105M
Deferred Revenue	$75M
Other Current Liabilities	$28M
TOTAL CURRENT LIABILITIES	$392M
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$52M
Other Non-Current Liabilities	$40M
TOTAL NON-CURRENT LIABILITIES	$112M
TOTAL LIABILITIES	$504M
Common Stock	$729.0K
Additional Paid-In Capital	$197M
Retained Earnings	$792M
Treasury Stock	-$70M
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$927M
Minority Interest	$3M
TOTAL EQUITY	$930M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$125M
Net Debt	-$40M