LOPE FY 2012 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2012 Earnings

Reported February 19, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$511M	—	$427M	—	19.8%
Op. Income	$114M	—	$82M	—	38.8%
Gross Margin	56.9%	—	54.4%	—	2.5pp
Net Margin	13.6%	—	11.8%	—	1.7pp
EPS (Diluted)	$1.53	—	$1.12	—	36.6%
Free Cash Flow	$39M	—	$17M	—	137.5%

Revenue Flow

Item	Amount
REVENUE	$511M
Cost of Revenue	$220M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$141M
General & Administrative	$36M
SG&A Expenses	$177M
Other Expenses	$0
Operating Expenses	$177M
Cost & Expenses	$397M
OPERATING INCOME	$114M
Interest Income	$71.0K
Interest Expense	$699.0K
Other Income/Expenses	-$628.0K
INCOME BEFORE TAX	$113M
Income Tax Expense	$44M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$22M
EBIT	$114M
EBITDA	$136M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$511M
Cost of Revenue	$220M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$141M
General & Administrative	$36M
SG&A Expenses	$177M
Other Expenses	$0
Operating Expenses	$177M
Cost & Expenses	$397M
OPERATING INCOME	$114M
Interest Income	$71.0K
Interest Expense	$699.0K
Other Income/Expenses	-$628.0K
INCOME BEFORE TAX	$113M
Income Tax Expense	$44M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$22M
EBIT	$114M
EBITDA	$136M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$22M
Stock-Based Compensation	$8M
Deferred Income Tax	-$518.0K
Other Non-Cash Items	$18M
Change in Working Capital	$28M
OPERATING CASH FLOW	$144M
Capital Expenditure	-$105M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$27M
NET CASH FROM INVESTING	-$132M
Net Debt Issuance	$77M
Common Stock Repurchased	-$15M
Common Dividends Paid	$0
Other Financing Activities	$9M
NET CASH FROM FINANCING	$71M
FREE CASH FLOW	$39M
Net Change in Cash	$84M

Balance Sheet

Item	Amount
Cash & Equivalents	$105M
Short-Term Investments	$0
Net Receivables	$35M
Inventory	$61M
Other Current Assets	$74M
TOTAL CURRENT ASSETS	$214M
PP&E (Net)	$269M
Goodwill	$3M
Intangible Assets	$0
Long-Term Investments	-$182.0K
Tax Assets	$5M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$281M
TOTAL ASSETS	$495M
Account Payables	$14M
Short-Term Debt	$7M
Deferred Revenue	$86M
Other Current Liabilities	$75M
TOTAL CURRENT LIABILITIES	$153M
Long-Term Debt	$93M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$108M
TOTAL LIABILITIES	$261M
Common Stock	$471.0K
Additional Paid-In Capital	$102M
Retained Earnings	$171M
Treasury Stock	-$39M
Accum. Other Comp. Income	-$223.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$234M
Minority Interest	$0
TOTAL EQUITY	$234M
TOTAL LIABILITIES & EQUITY	$495M
Total Debt	$100M
Net Debt	-$5M