HMN FY 2010 Earnings Report — Horace Mann Educators Corporation Revenue & Financial Results | Market Cap Arena

Horace Mann Educators CorporationHMN

FY 2010 Earnings

Reported February 28, 2011

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	$975M	—	$937M	—	4.0%
Op. Income	$111M	—	$104M	—	7.5%
Gross Margin	36.2%	—	36.2%	—	0.0pp
Net Margin	8.3%	—	7.8%	—	0.5pp
EPS (Diluted)	$1.97	—	$1.81	—	8.8%
Free Cash Flow	$158M	—	$179M	—	-11.8%

Revenue Flow

Item	Amount
REVENUE	$975M
Cost of Revenue	$622M
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$143M
SG&A Expenses	$143M
Other Expenses	$99M
Operating Expenses	$242M
Cost & Expenses	$863M
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$30M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$8M
EBIT	$125M
EBITDA	$134M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$975M
Cost of Revenue	$622M
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$143M
SG&A Expenses	$143M
Other Expenses	$99M
Operating Expenses	$242M
Cost & Expenses	$863M
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$30M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$8M
EBIT	$125M
EBITDA	$134M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$81M
Depreciation & Amortization	$8M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$24M
Change in Working Capital	$92M
OPERATING CASH FLOW	$158M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.7B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$304M
Net Debt Issuance	$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$14M
Other Financing Activities	$152M
NET CASH FROM FINANCING	$144M
FREE CASH FLOW	$158M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6M
PP&E (Net)	$0
Goodwill	$47M
Intangible Assets	$0
Long-Term Investments	$5.1B
Tax Assets	$0
Other Non-Current Assets	-$5.1B
TOTAL NON-CURRENT ASSETS	$47M
TOTAL ASSETS	$7.0B
Account Payables	$0
Short-Term Debt	$38M
Deferred Revenue	$0
Other Current Liabilities	$5.9B
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$321.0K
TOTAL NON-CURRENT LIABILITIES	$200M
TOTAL LIABILITIES	$6.1B
Common Stock	$61.0K
Additional Paid-In Capital	$367M
Retained Earnings	$824M
Treasury Stock	-$408M
Accum. Other Comp. Income	$97M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$880M
Minority Interest	$0
TOTAL EQUITY	$880M
TOTAL LIABILITIES & EQUITY	$7.0B
Total Debt	$238M
Net Debt	$232M