CACC FY 2007 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

FY 2007 Earnings

Reported March 14, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$233M	—	$214M	—	8.5%
Op. Income	$83M	—	$91M	—	-8.3%
Gross Margin	60.4%	—	69.9%	—	-9.5pp
Net Margin	23.6%	—	27.4%	—	-3.7pp
EPS (Diluted)	$1.76	—	$1.66	—	6.0%
Free Cash Flow	$90M	—	$85M	—	6.4%

Revenue Flow

Item	Amount
REVENUE	$233M
Cost of Revenue	$92M
GROSS PROFIT	$140M
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$27M
SG&A Expenses	$45M
Other Expenses	$13M
Operating Expenses	$57M
Cost & Expenses	$149M
OPERATING INCOME	$83M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$69.0K
INCOME BEFORE TAX	$83M
Income Tax Expense	$30M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$1M
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$4M
EBIT	$76M
EBITDA	$80M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$233M
Cost of Revenue	$92M
GROSS PROFIT	$140M
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$27M
SG&A Expenses	$45M
Other Expenses	$13M
Operating Expenses	$57M
Cost & Expenses	$149M
OPERATING INCOME	$83M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$69.0K
INCOME BEFORE TAX	$83M
Income Tax Expense	$30M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$1M
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$4M
EBIT	$76M
EBITDA	$80M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$55M
Depreciation & Amortization	$4M
Stock-Based Compensation	$5M
Deferred Income Tax	$20M
Other Non-Cash Items	$20M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$98M
Capital Expenditure	-$8M
Acquisitions (Net)	-$71M
Purchases of Investments	-$550.0K
Sales/Maturities of Investments	$898.0K
Other Investing Activities	-$162M
NET CASH FROM INVESTING	-$240M
Net Debt Issuance	$139M
Common Stock Repurchased	-$10M
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	$135M
FREE CASH FLOW	$90M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$712.0K
Short-Term Investments	$0
Net Receivables	$831M
Inventory	$0
Other Current Assets	$75M
TOTAL CURRENT ASSETS	$907M
PP&E (Net)	$20M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$65M
Other Non-Current Assets	-$50M
TOTAL NON-CURRENT ASSETS	$35M
TOTAL ASSETS	$942M
Account Payables	$80M
Short-Term Debt	$36M
Deferred Revenue	$0
Other Current Liabilities	-$37M
TOTAL CURRENT LIABILITIES	$449M
Long-Term Debt	$532M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$65M
Other Non-Current Liabilities	-$995.0K
TOTAL NON-CURRENT LIABILITIES	$227M
TOTAL LIABILITIES	$677M
Common Stock	$302.0K
Additional Paid-In Capital	$11M
Retained Earnings	$264M
Treasury Stock	-$10M
Accum. Other Comp. Income	$13.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$265M
Minority Interest	$0
TOTAL EQUITY	$265M
TOTAL LIABILITIES & EQUITY	$942M
Total Debt	$532M
Net Debt	$531M