KMX FY 2010 Earnings Report — CarMax, Inc. Revenue & Financial Results | Market Cap Arena

CarMax, Inc.KMX

FY 2010 Earnings

Reported April 26, 2010

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	$7.5B	—	$7.0B	—	7.1%
Op. Income	$280M	—	$118M	—	137.8%
Gross Margin	14.7%	—	13.9%	—	0.8pp
Net Margin	3.8%	—	0.8%	—	2.9pp
EPS (Diluted)	$1.26	—	$0.27	—	366.7%
Free Cash Flow	$23M	—	$79M	—	-70.4%

Revenue Flow

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$6.4B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$819M
Other Expenses	$0
Operating Expenses	$819M
Cost & Expenses	$7.2B
OPERATING INCOME	$280M
Interest Income	$560.0K
Interest Expense	$3M
Other Income/Expenses	$172M
INCOME BEFORE TAX	$452M
Income Tax Expense	$171M
Net Income from Continuing Ops	$282M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$282M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$279M
D&A	$58M
EBIT	$456M
EBITDA	$514M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$6.4B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$819M
Other Expenses	$0
Operating Expenses	$819M
Cost & Expenses	$7.2B
OPERATING INCOME	$280M
Interest Income	$560.0K
Interest Expense	$3M
Other Income/Expenses	$172M
INCOME BEFORE TAX	$452M
Income Tax Expense	$171M
Net Income from Continuing Ops	$282M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$282M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$279M
D&A	$58M
EBIT	$456M
EBITDA	$514M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$282M
Depreciation & Amortization	$58M
Stock-Based Compensation	$38M
Deferred Income Tax	$30M
Other Non-Cash Items	$2M
Change in Working Capital	-$362M
OPERATING CASH FLOW	$50M
Capital Expenditure	-$22M
Acquisitions (Net)	$447.0K
Purchases of Investments	-$2M
Sales/Maturities of Investments	$2M
Other Investing Activities	$662.0K
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	-$186M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$151M
FREE CASH FLOW	$23M
Net Change in Cash	-$122M

Balance Sheet

Item	Amount
Cash & Equivalents	$18M
Short-Term Investments	$0
Net Receivables	$682M
Inventory	$843M
Other Current Assets	$6M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$893M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$57M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$1000M
TOTAL ASSETS	$2.6B
Account Payables	$253M
Short-Term Debt	$123M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$477M
Long-Term Debt	$27M
Deferred Revenue NC	$118M
Deferred Tax Liabilities	-$118M
Other Non-Current Liabilities	$118M
TOTAL NON-CURRENT LIABILITIES	$145M
TOTAL LIABILITIES	$623M
Common Stock	$112M
Additional Paid-In Capital	$746M
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$151M
Net Debt	$132M