PRI FY 2014 Earnings Report — Primerica, Inc. Revenue & Financial Results | Market Cap Arena

Primerica, Inc.PRI

FY 2014 Earnings

Reported February 26, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	5.7%
Op. Income	$180M	—	$286M	—	-37.2%
Gross Margin	87.0%	—	85.2%	—	1.8pp
Net Margin	13.5%	—	12.8%	—	0.7pp
EPS (Diluted)	$3.29	—	$2.83	—	16.3%
Free Cash Flow	$230M	—	$164M	—	40.3%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$174M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$269M
General & Administrative	$114M
SG&A Expenses	$383M
Other Expenses	$0
Operating Expenses	$986M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$96M
INCOME BEFORE TAX	$276M
Income Tax Expense	$96M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$181M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$179M
D&A	$12M
EBIT	$310M
EBITDA	$180M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$174M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$269M
General & Administrative	$114M
SG&A Expenses	$383M
Other Expenses	$0
Operating Expenses	$986M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$96M
INCOME BEFORE TAX	$276M
Income Tax Expense	$96M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$181M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$179M
D&A	$12M
EBIT	$310M
EBITDA	$180M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$181M
Depreciation & Amortization	$12M
Stock-Based Compensation	$18M
Deferred Income Tax	$26M
Other Non-Cash Items	-$146M
Change in Working Capital	$146M
OPERATING CASH FLOW	$238M
Capital Expenditure	-$7M
Acquisitions (Net)	$3M
Purchases of Investments	-$438M
Sales/Maturities of Investments	$427M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$16M
Net Debt Issuance	$0
Common Stock Repurchased	-$148M
Common Dividends Paid	-$27M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	-$176M
FREE CASH FLOW	$230M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$193M
Short-Term Investments	$1.8B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$26M
Goodwill	$0
Intangible Assets	$62M
Long-Term Investments	$220M
Tax Assets	$36M
Other Non-Current Assets	-$246M
TOTAL NON-CURRENT ASSETS	$98M
TOTAL ASSETS	$10.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$15M
Long-Term Debt	$595M
Deferred Revenue NC	-$345M
Deferred Tax Liabilities	$125M
Other Non-Current Liabilities	$8.8B
TOTAL NON-CURRENT LIABILITIES	$9.5B
TOTAL LIABILITIES	$9.5B
Common Stock	$522.0K
Additional Paid-In Capital	$353M
Retained Earnings	$796M
Treasury Stock	$0
Accum. Other Comp. Income	$96M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$10.7B
Total Debt	$595M
Net Debt	$402M