PRI FY 2011 Earnings Report — Primerica, Inc. Revenue & Financial Results | Market Cap Arena

Primerica, Inc.PRI

FY 2011 Earnings

Reported February 28, 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	$1.1B	—	$1.4B	—	-19.0%
Op. Income	$244M	—	$361M	—	-32.5%
Gross Margin	39.6%	—	41.3%	—	-1.7pp
Net Margin	14.3%	—	17.1%	—	-2.8pp
EPS (Diluted)	$2.08	—	$3.06	—	-32.0%
Free Cash Flow	$84M	—	$31M	—	169.3%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$666M
GROSS PROFIT	$437M
R&D Expenses	$0
Selling & Marketing	$211M
General & Administrative	$0
SG&A Expenses	$211M
Other Expenses	-$18M
Operating Expenses	$193M
Cost & Expenses	$859M
OPERATING INCOME	$244M
Interest Income	$0
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$244M
Income Tax Expense	$87M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	-$51.0K
BOTTOM LINE NET INCOME	$152M
D&A	$11M
EBIT	$272M
EBITDA	$283M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$666M
GROSS PROFIT	$437M
R&D Expenses	$0
Selling & Marketing	$211M
General & Administrative	$0
SG&A Expenses	$211M
Other Expenses	-$18M
Operating Expenses	$193M
Cost & Expenses	$859M
OPERATING INCOME	$244M
Interest Income	$0
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$244M
Income Tax Expense	$87M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	-$51.0K
BOTTOM LINE NET INCOME	$152M
D&A	$11M
EBIT	$272M
EBITDA	$283M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$157M
Depreciation & Amortization	$11M
Stock-Based Compensation	$12M
Deferred Income Tax	-$3M
Other Non-Cash Items	-$165M
Change in Working Capital	$70M
OPERATING CASH FLOW	$88M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$461M
Sales/Maturities of Investments	$625M
Other Investing Activities	$247.0K
NET CASH FROM INVESTING	$129M
Net Debt Issuance	$0
Common Stock Repurchased	-$204M
Common Dividends Paid	-$7M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$207M
FREE CASH FLOW	$84M
Net Change in Cash	$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$136M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$72M
Long-Term Investments	$2.0B
Tax Assets	$98M
Other Non-Current Assets	-$2.0B
TOTAL NON-CURRENT ASSETS	$170M
TOTAL ASSETS	$10.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$33M
Long-Term Debt	$300M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8.2B
TOTAL NON-CURRENT LIABILITIES	$8.5B
TOTAL LIABILITIES	$8.6B
Common Stock	$649.0K
Additional Paid-In Capital	$835M
Retained Earnings	$566M
Treasury Stock	$0
Accum. Other Comp. Income	$148M
Other Equity	$96M
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$10.0B
Total Debt	$300M
Net Debt	$164M