NRC FY 2011 Earnings Report — National Research Corporation Revenue & Financial Results | Market Cap Arena

National Research CorporationNRC

FY 2011 Earnings

Reported March 1, 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	$76M	—	$63M	—	19.5%
Op. Income	$19M	—	$14M	—	35.2%
Gross Margin	62.2%	—	61.1%	—	1.0pp
Net Margin	15.3%	—	13.4%	—	1.9pp
EPS (Diluted)	$1.69	—	$1.26	—	34.1%
Free Cash Flow	$16M	—	$13M	—	19.9%

Revenue Flow

Item	Amount
REVENUE	$76M
Cost of Revenue	$29M
GROSS PROFIT	$47M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$5M
Operating Expenses	$28M
Cost & Expenses	$57M
OPERATING INCOME	$19M
Interest Income	$13.0K
Interest Expense	$629.0K
Other Income/Expenses	-$575.0K
INCOME BEFORE TAX	$18M
Income Tax Expense	$7M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$5M
EBIT	$19M
EBITDA	$24M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$76M
Cost of Revenue	$29M
GROSS PROFIT	$47M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$5M
Operating Expenses	$28M
Cost & Expenses	$57M
OPERATING INCOME	$19M
Interest Income	$13.0K
Interest Expense	$629.0K
Other Income/Expenses	-$575.0K
INCOME BEFORE TAX	$18M
Income Tax Expense	$7M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$5M
EBIT	$19M
EBITDA	$24M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$12M
Depreciation & Amortization	$5M
Stock-Based Compensation	$763.0K
Deferred Income Tax	$1M
Other Non-Cash Items	-$1.0K
Change in Working Capital	-$273.0K
OPERATING CASH FLOW	$18M
Capital Expenditure	-$3M
Acquisitions (Net)	-$4M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$7M
NET CASH FROM INVESTING	-$7M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$146.0K
Common Dividends Paid	-$6M
Other Financing Activities	$975.0K
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$16M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$0
Net Receivables	$12M
Inventory	$0
Other Current Assets	$1M
TOTAL CURRENT ASSETS	$22M
PP&E (Net)	$14M
Goodwill	$58M
Intangible Assets	$7M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$79M
TOTAL ASSETS	$101M
Account Payables	$783.0K
Short-Term Debt	$2M
Deferred Revenue	$17M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$24M
Long-Term Debt	$13M
Deferred Revenue NC	$185.0K
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$21M
TOTAL LIABILITIES	$45M
Common Stock	$8.0K
Additional Paid-In Capital	$31M
Retained Earnings	$47M
Treasury Stock	-$23M
Accum. Other Comp. Income	$907.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$56M
Minority Interest	$0
TOTAL EQUITY	$56M
TOTAL LIABILITIES & EQUITY	$101M
Total Debt	$15M
Net Debt	$7M