HMN FY 2011 Earnings Report — Horace Mann Educators Corporation Revenue & Financial Results | Market Cap Arena

Horace Mann Educators CorporationHMN

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$998M	—	$975M	—	2.4%
Op. Income	$95M	—	$111M	—	-14.7%
Gross Margin	25.8%	—	36.2%	—	-10.4pp
Net Margin	7.1%	—	8.3%	—	-1.2pp
EPS (Diluted)	$1.70	—	$1.97	—	-13.7%
Free Cash Flow	$116M	—	$158M	—	-26.5%

Revenue Flow

Item	Amount
REVENUE	$998M
Cost of Revenue	$741M
GROSS PROFIT	$258M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$140M
SG&A Expenses	$140M
Other Expenses	$23M
Operating Expenses	$163M
Cost & Expenses	$903M
OPERATING INCOME	$95M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	$24M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$71M
D&A	$9M
EBIT	$109M
EBITDA	$118M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$998M
Cost of Revenue	$741M
GROSS PROFIT	$258M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$140M
SG&A Expenses	$140M
Other Expenses	$23M
Operating Expenses	$163M
Cost & Expenses	$903M
OPERATING INCOME	$95M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	$24M
Net Income from Continuing Ops	$71M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$71M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$71M
D&A	$9M
EBIT	$109M
EBITDA	$118M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$71M
Depreciation & Amortization	$9M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$62M
Change in Working Capital	$98M
OPERATING CASH FLOW	$116M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$303M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$19M
Other Financing Activities	$213M
NET CASH FROM FINANCING	$189M
FREE CASH FLOW	$116M
Net Change in Cash	$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$7M
Short-Term Investments	$5.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7M
PP&E (Net)	$0
Goodwill	$47M
Intangible Assets	$0
Long-Term Investments	$229M
Tax Assets	$0
Other Non-Current Assets	$36M
TOTAL NON-CURRENT ASSETS	$313M
TOTAL ASSETS	$7.4B
Account Payables	$0
Short-Term Debt	$38M
Deferred Revenue	$0
Other Current Liabilities	-$3.0K
TOTAL CURRENT LIABILITIES	$38M
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5.9B
TOTAL NON-CURRENT LIABILITIES	$6.1B
TOTAL LIABILITIES	$6.4B
Common Stock	$62.0K
Additional Paid-In Capital	$383M
Retained Earnings	$841M
Treasury Stock	-$411M
Accum. Other Comp. Income	$249M
Other Equity	-$7M
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$238M
Net Debt	$230M