CRVL FY 2015 Earnings Report — CorVel Corporation Revenue & Financial Results | Market Cap Arena

CorVel CorporationCRVL

FY 2015 Earnings

Reported June 11, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$493M	—	$479M	—	2.9%
Op. Income	$46M	—	$57M	—	-19.4%
Gross Margin	20.3%	—	22.7%	—	-2.4pp
Net Margin	5.8%	—	7.2%	—	-1.4pp
EPS (Diluted)	$1.37	—	$1.61	—	-14.9%
Free Cash Flow	$21M	—	$36M	—	-41.2%

Revenue Flow

Item	Amount
REVENUE	$493M
Cost of Revenue	$393M
GROSS PROFIT	$100M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$0
Operating Expenses	$54M
Cost & Expenses	$447M
OPERATING INCOME	$46M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$46M
Income Tax Expense	$17M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$18M
EBIT	$46M
EBITDA	$64M
EPS	$0
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$493M
Cost of Revenue	$393M
GROSS PROFIT	$100M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$0
Operating Expenses	$54M
Cost & Expenses	$447M
OPERATING INCOME	$46M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$46M
Income Tax Expense	$17M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$18M
EBIT	$46M
EBITDA	$64M
EPS	$0
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$18M
Stock-Based Compensation	$2M
Deferred Income Tax	$304.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$44M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$1M
NET CASH FROM INVESTING	-$24M
Net Debt Issuance	$0
Common Stock Repurchased	-$32M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$29M
FREE CASH FLOW	$21M
Net Change in Cash	-$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$26M
Short-Term Investments	$0
Net Receivables	$58M
Inventory	$0
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$112M
PP&E (Net)	$56M
Goodwill	$37M
Intangible Assets	$5M
Long-Term Investments	$1M
Tax Assets	$7.2B
Other Non-Current Assets	-$7.2B
TOTAL NON-CURRENT ASSETS	$100M
TOTAL ASSETS	$212M
Account Payables	$14M
Short-Term Debt	$618.0K
Deferred Revenue	$25M
Other Current Liabilities	-$618.0K
TOTAL CURRENT LIABILITIES	$74M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$17M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$17M
TOTAL LIABILITIES	$84M
Common Stock	$3.0K
Additional Paid-In Capital	$123M
Retained Earnings	$365M
Treasury Stock	-$360M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$128M
Minority Interest	$0
TOTAL EQUITY	$128M
TOTAL LIABILITIES & EQUITY	$212M
Total Debt	$0
Net Debt	-$26M