SLM FY 2006 Earnings Report — SLM Corporation Revenue & Financial Results | Market Cap Arena

SLM CorporationSLM

FY 2006 Earnings

Reported March 1, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$8.8B	—	—	—	—
Op. Income	$2.0B	—	—	—	—
Gross Margin	38.2%	—	—	—	—
Net Margin	13.2%	—	—	—	—
EPS (Diluted)	$2.63	—	—	—	—
Free Cash Flow	-$13.0B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$5.4B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$703M
SG&A Expenses	$703M
Other Expenses	$643M
Operating Expenses	$1.3B
Cost & Expenses	$6.8B
OPERATING INCOME	$2.0B
Interest Income	$6.6B
Interest Expense	$5.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$834M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	-$4M
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$0
EBIT	$2.0B
EBITDA	$2.0B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$5.4B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$703M
SG&A Expenses	$703M
Other Expenses	$643M
Operating Expenses	$1.3B
Cost & Expenses	$6.8B
OPERATING INCOME	$2.0B
Interest Income	$6.6B
Interest Expense	$5.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$834M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	-$4M
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$0
EBIT	$2.0B
EBITDA	$2.0B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$0
Stock-Based Compensation	$81M
Deferred Income Tax	$0
Other Non-Cash Items	-$36M
Change in Working Capital	-$393M
OPERATING CASH FLOW	$808M
Capital Expenditure	-$13.8B
Acquisitions (Net)	-$340M
Purchases of Investments	-$86.3B
Sales/Maturities of Investments	$86.3B
Other Investing Activities	-$375M
NET CASH FROM INVESTING	-$14.5B
Net Debt Issuance	$14.3B
Common Stock Repurchased	-$483M
Common Dividends Paid	-$398M
Other Financing Activities	$169M
NET CASH FROM FINANCING	$13.8B
FREE CASH FLOW	-$13.0B
Net Change in Cash	$123M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.6B
Short-Term Investments	$2.5B
Net Receivables	$3.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.4B
PP&E (Net)	$0
Goodwill	$970M
Intangible Assets	$402M
Long-Term Investments	$97.3B
Tax Assets	$0
Other Non-Current Assets	$9.0B
TOTAL NON-CURRENT ASSETS	$107.7B
TOTAL ASSETS	$116.1B
Account Payables	$0
Short-Term Debt	$3.5B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$104.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$3.7B
TOTAL NON-CURRENT LIABILITIES	$108.2B
TOTAL LIABILITIES	$111.8B
Common Stock	$87M
Additional Paid-In Capital	$2.6B
Retained Earnings	$1.8B
Treasury Stock	-$1.0B
Accum. Other Comp. Income	$349M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$9M
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$116.1B
Total Debt	$108.1B
Net Debt	$105.5B