WRLD FY 2008 Earnings Report — World Acceptance Corporation Revenue & Financial Results | Market Cap Arena

World Acceptance CorporationWRLD

FY 2008 Earnings

Reported May 30, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$346M	—	$292M	—	18.4%
Op. Income	$88M	—	$77M	—	13.7%
Gross Margin	77.1%	—	79.0%	—	-1.8pp
Net Margin	15.3%	—	16.4%	—	-1.1pp
EPS (Diluted)	$3.05	—	$2.60	—	17.3%
Free Cash Flow	$126M	—	$102M	—	24.1%

Revenue Flow

Item	Amount
REVENUE	$346M
Cost of Revenue	$79M
GROSS PROFIT	$267M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$119M
SG&A Expenses	$132M
Other Expenses	$47M
Operating Expenses	$179M
Cost & Expenses	$258M
OPERATING INCOME	$88M
Interest Income	$292M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$88M
Income Tax Expense	$35M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$3M
EBIT	$88M
EBITDA	$91M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$346M
Cost of Revenue	$79M
GROSS PROFIT	$267M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$119M
SG&A Expenses	$132M
Other Expenses	$47M
Operating Expenses	$179M
Cost & Expenses	$258M
OPERATING INCOME	$88M
Interest Income	$292M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$88M
Income Tax Expense	$35M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$3M
EBIT	$88M
EBITDA	$91M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$53M
Depreciation & Amortization	$3M
Stock-Based Compensation	$0
Deferred Income Tax	-$3M
Other Non-Cash Items	$78M
Change in Working Capital	$5M
OPERATING CASH FLOW	$136M
Capital Expenditure	-$10M
Acquisitions (Net)	-$3M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$0
Other Investing Activities	-$123M
NET CASH FROM INVESTING	-$139M
Net Debt Issuance	$44M
Common Stock Repurchased	-$42M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	$5M
FREE CASH FLOW	$126M
Net Change in Cash	$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8M
PP&E (Net)	$19M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$412M
Tax Assets	$0
Other Non-Current Assets	$33M
TOTAL NON-CURRENT ASSETS	$479M
TOTAL ASSETS	$486M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$215M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37M
TOTAL NON-CURRENT LIABILITIES	$252M
TOTAL LIABILITIES	$252M
Common Stock	$0
Additional Paid-In Capital	$1M
Retained Earnings	$233M
Treasury Stock	$0
Accum. Other Comp. Income	$169.5K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$234M
Minority Interest	$0
TOTAL EQUITY	$234M
TOTAL LIABILITIES & EQUITY	$486M
Total Debt	$215M
Net Debt	$207M