CRVL FY 2016 Earnings Report — CorVel Corporation Revenue & Financial Results | Market Cap Arena

CorVel CorporationCRVL

FY 2016 Earnings

Reported June 10, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$504M	—	$493M	—	2.2%
Op. Income	$46M	—	$46M	—	1.1%
Gross Margin	20.8%	—	20.3%	—	0.5pp
Net Margin	5.7%	—	5.8%	—	-0.1pp
EPS (Diluted)	$1.43	—	$1.37	—	4.4%
Free Cash Flow	$35M	—	$21M	—	61.1%

Revenue Flow

Item	Amount
REVENUE	$504M
Cost of Revenue	$399M
GROSS PROFIT	$105M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$58M
SG&A Expenses	$58M
Other Expenses	$0
Operating Expenses	$58M
Cost & Expenses	$458M
OPERATING INCOME	$46M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$46M
Income Tax Expense	$18M
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	$20M
EBIT	$46M
EBITDA	$66M
EPS	$0
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$504M
Cost of Revenue	$399M
GROSS PROFIT	$105M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$58M
SG&A Expenses	$58M
Other Expenses	$0
Operating Expenses	$58M
Cost & Expenses	$458M
OPERATING INCOME	$46M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$46M
Income Tax Expense	$18M
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	$20M
EBIT	$46M
EBITDA	$66M
EPS	$0
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$20M
Stock-Based Compensation	$2M
Deferred Income Tax	-$2M
Other Non-Cash Items	$2M
Change in Working Capital	$655.0K
OPERATING CASH FLOW	$51M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$600.0K
NET CASH FROM INVESTING	-$17M
Net Debt Issuance	$0
Common Stock Repurchased	-$32M
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$27M
FREE CASH FLOW	$35M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$33M
Short-Term Investments	$0
Net Receivables	$60M
Inventory	$0
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$123M
PP&E (Net)	$53M
Goodwill	$37M
Intangible Assets	$4M
Long-Term Investments	$0
Tax Assets	$14M
Other Non-Current Assets	-$11M
TOTAL NON-CURRENT ASSETS	$97M
TOTAL ASSETS	$220M
Account Payables	$13M
Short-Term Debt	$0
Deferred Revenue	$33M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$80M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$8M
TOTAL LIABILITIES	$88M
Common Stock	$3.0K
Additional Paid-In Capital	$130M
Retained Earnings	$393M
Treasury Stock	-$392M
Accum. Other Comp. Income	-$131M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$132M
Minority Interest	$0
TOTAL EQUITY	$132M
TOTAL LIABILITIES & EQUITY	$220M
Total Debt	$0
Net Debt	-$33M