ATGE FY 2010 Earnings Report — Adtalem Global Education Inc. Revenue & Financial Results | Market Cap Arena

Adtalem Global Education Inc.ATGE

FY 2010 Earnings

Reported August 25, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.5B	—	31.0%
Op. Income	$411M	—	$235M	—	75.0%
Gross Margin	56.9%	—	54.2%	—	2.7pp
Net Margin	14.6%	—	11.3%	—	3.3pp
EPS (Diluted)	$3.87	—	$2.28	—	69.7%
Free Cash Flow	$261M	—	$175M	—	48.5%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$826M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$678M
SG&A Expenses	$678M
Other Expenses	$0
Operating Expenses	$678M
Cost & Expenses	$1.5B
OPERATING INCOME	$411M
Interest Income	$2M
Interest Expense	$2M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$413M
Income Tax Expense	$133M
Net Income from Continuing Ops	$280M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$280M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$280M
D&A	$62M
EBIT	$414M
EBITDA	$476M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$826M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$678M
SG&A Expenses	$678M
Other Expenses	$0
Operating Expenses	$678M
Cost & Expenses	$1.5B
OPERATING INCOME	$411M
Interest Income	$2M
Interest Expense	$2M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$413M
Income Tax Expense	$133M
Net Income from Continuing Ops	$280M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$280M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$280M
D&A	$62M
EBIT	$414M
EBITDA	$476M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$280M
Depreciation & Amortization	$62M
Stock-Based Compensation	$10M
Deferred Income Tax	-$10M
Other Non-Cash Items	$88M
Change in Working Capital	-$39M
OPERATING CASH FLOW	$392M
Capital Expenditure	-$131M
Acquisitions (Net)	$0
Purchases of Investments	-$79.0K
Sales/Maturities of Investments	$46M
Other Investing Activities	-$700.0K
NET CASH FROM INVESTING	-$86M
Net Debt Issuance	-$125M
Common Stock Repurchased	-$42M
Common Dividends Paid	-$13M
Other Financing Activities	$17M
NET CASH FROM FINANCING	-$162M
FREE CASH FLOW	$261M
Net Change in Cash	$143M

Balance Sheet

Item	Amount
Cash & Equivalents	$308M
Short-Term Investments	$16M
Net Receivables	$119M
Inventory	$0
Other Current Assets	$24M
TOTAL CURRENT ASSETS	$500M
PP&E (Net)	$388M
Goodwill	$515M
Intangible Assets	$194M
Long-Term Investments	$13M
Tax Assets	$0
Other Non-Current Assets	$18M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.6B
Account Payables	$90M
Short-Term Debt	$0
Deferred Revenue	$87M
Other Current Liabilities	$113M
TOTAL CURRENT LIABILITIES	$344M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$41M
Other Non-Current Liabilities	$58M
TOTAL NON-CURRENT LIABILITIES	$100M
TOTAL LIABILITIES	$443M
Common Stock	$734.0K
Additional Paid-In Capital	$224M
Retained Earnings	$1.1B
Treasury Stock	-$111M
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$5M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$0
Net Debt	-$308M