KMX FY 2007 Earnings Report — CarMax, Inc. Revenue & Financial Results | Market Cap Arena

CarMax, Inc.KMX

FY 2007 Earnings

Reported April 27, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$7.6B	—	$6.3B	—	21.8%
Op. Income	$332M	—	$221M	—	50.6%
Gross Margin	14.5%	—	12.6%	—	1.8pp
Net Margin	2.6%	—	2.4%	—	0.2pp
EPS (Diluted)	$0.92	—	$0.63	—	46.0%
Free Cash Flow	-$55M	—	-$72M	—	23.8%

Revenue Flow

Item	Amount
REVENUE	$7.6B
Cost of Revenue	$6.5B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$771M
Other Expenses	$0
Operating Expenses	$771M
Cost & Expenses	$7.3B
OPERATING INCOME	$332M
Interest Income	$1M
Interest Expense	$5M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$323M
Income Tax Expense	$125M
Net Income from Continuing Ops	$199M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$199M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$199M
D&A	$35M
EBIT	$329M
EBITDA	$363M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.6B
Cost of Revenue	$6.5B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$771M
Other Expenses	$0
Operating Expenses	$771M
Cost & Expenses	$7.3B
OPERATING INCOME	$332M
Interest Income	$1M
Interest Expense	$5M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$323M
Income Tax Expense	$125M
Net Income from Continuing Ops	$199M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$199M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$199M
D&A	$35M
EBIT	$329M
EBITDA	$363M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$199M
Depreciation & Amortization	$35M
Stock-Based Compensation	$32M
Deferred Income Tax	-$14M
Other Non-Cash Items	$5M
Change in Working Capital	-$119M
OPERATING CASH FLOW	$137M
Capital Expenditure	-$192M
Acquisitions (Net)	$0
Purchases of Investments	-$17M
Sales/Maturities of Investments	$17M
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$187M
Net Debt Issuance	-$10M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$22M
NET CASH FROM FINANCING	$48M
FREE CASH FLOW	-$55M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$0
Net Receivables	$274M
Inventory	$836M
Other Current Assets	$6M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$652M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$40M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$735M
TOTAL ASSETS	$1.9B
Account Payables	$255M
Short-Term Debt	$152M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$512M
Long-Term Debt	$34M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$13M
Other Non-Current Liabilities	$92M
TOTAL NON-CURRENT LIABILITIES	$126M
TOTAL LIABILITIES	$638M
Common Stock	$108M
Additional Paid-In Capital	$588M
Retained Earnings	$572M
Treasury Stock	$0
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$185M
Net Debt	$166M