PRI FY 2015 Earnings Report — Primerica, Inc. Revenue & Financial Results | Market Cap Arena

Primerica, Inc.PRI

FY 2015 Earnings

Reported February 25, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.3B	—	4.9%
Op. Income	$180M	—	$180M	—	0.0%
Gross Margin	87.6%	—	87.0%	—	0.6pp
Net Margin	13.5%	—	13.5%	—	-0.0pp
EPS (Diluted)	$3.70	—	$3.29	—	12.5%
Free Cash Flow	$252M	—	$230M	—	9.4%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$174M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$275M
General & Administrative	$123M
SG&A Expenses	$398M
Other Expenses	-$617M
Operating Expenses	$984M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	$101M
INCOME BEFORE TAX	$291M
Income Tax Expense	$101M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$188M
D&A	$11M
EBIT	$338M
EBITDA	$349M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$174M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$275M
General & Administrative	$123M
SG&A Expenses	$398M
Other Expenses	-$617M
Operating Expenses	$984M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	$101M
INCOME BEFORE TAX	$291M
Income Tax Expense	$101M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$188M
D&A	$11M
EBIT	$338M
EBITDA	$349M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$190M
Depreciation & Amortization	$11M
Stock-Based Compensation	$15M
Deferred Income Tax	$38M
Other Non-Cash Items	-$166M
Change in Working Capital	$176M
OPERATING CASH FLOW	$259M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$434M
Sales/Maturities of Investments	$383M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$58M
Net Debt Issuance	$0
Common Stock Repurchased	-$200M
Common Dividends Paid	-$33M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$235M
FREE CASH FLOW	$252M
Net Change in Cash	-$40M

Balance Sheet

Item	Amount
Cash & Equivalents	$152M
Short-Term Investments	$1.8B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$29M
Goodwill	$0
Intangible Assets	$58M
Long-Term Investments	$365M
Tax Assets	$30M
Other Non-Current Assets	-$395M
TOTAL NON-CURRENT ASSETS	$88M
TOTAL ASSETS	$10.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$6M
Long-Term Debt	$737M
Deferred Revenue NC	-$507M
Deferred Tax Liabilities	$142M
Other Non-Current Liabilities	$8.6B
TOTAL NON-CURRENT LIABILITIES	$9.5B
TOTAL LIABILITIES	$9.5B
Common Stock	$483.0K
Additional Paid-In Capital	$180M
Retained Earnings	$953M
Treasury Stock	$0
Accum. Other Comp. Income	$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$10.6B
Total Debt	$740M
Net Debt	$588M