CRVL FY 2019 Earnings Report — CorVel Corporation Revenue & Financial Results | Market Cap Arena

CorVel CorporationCRVL

FY 2019 Earnings

Reported June 7, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$596M	—	$558M	—	6.7%
Op. Income	$62M	—	$48M	—	28.4%
Gross Margin	21.0%	—	19.2%	—	1.7pp
Net Margin	7.8%	—	6.4%	—	1.4pp
EPS (Diluted)	$2.46	—	$1.87	—	31.6%
Free Cash Flow	$63M	—	$34M	—	83.9%

Revenue Flow

Item	Amount
REVENUE	$596M
Cost of Revenue	$471M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$0
Operating Expenses	$63M
Cost & Expenses	$534M
OPERATING INCOME	$62M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$15M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$23M
EBIT	$62M
EBITDA	$84M
EPS	$1
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$596M
Cost of Revenue	$471M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$0
Operating Expenses	$63M
Cost & Expenses	$534M
OPERATING INCOME	$62M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$15M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$23M
EBIT	$62M
EBITDA	$84M
EPS	$1
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$23M
Stock-Based Compensation	$4M
Deferred Income Tax	$1M
Other Non-Cash Items	$2M
Change in Working Capital	$966.0K
OPERATING CASH FLOW	$79M
Capital Expenditure	-$15M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$15M
Net Debt Issuance	$0
Common Stock Repurchased	-$35M
Common Dividends Paid	$0
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$27M
FREE CASH FLOW	$63M
Net Change in Cash	$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$92M
Short-Term Investments	$0
Net Receivables	$71M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$215M
PP&E (Net)	$62M
Goodwill	$37M
Intangible Assets	$3M
Long-Term Investments	$200.0K
Tax Assets	$12M
Other Non-Current Assets	-$12M
TOTAL NON-CURRENT ASSETS	$103M
TOTAL ASSETS	$318M
Account Payables	$10M
Short-Term Debt	$0
Deferred Revenue	$62M
Other Current Liabilities	-$4M
TOTAL CURRENT LIABILITIES	$117M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$6M
TOTAL LIABILITIES	$123M
Common Stock	$3.0K
Additional Paid-In Capital	$156M
Retained Earnings	$505M
Treasury Stock	-$466M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$195M
Minority Interest	$0
TOTAL EQUITY	$195M
TOTAL LIABILITIES & EQUITY	$318M
Total Debt	$0
Net Debt	-$92M