WRLD FY 2009 Earnings Report — World Acceptance Corporation Revenue & Financial Results | Market Cap Arena

World Acceptance CorporationWRLD

FY 2009 Earnings

Reported May 29, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$392M	—	$346M	—	13.3%
Op. Income	$92M	—	$88M	—	4.4%
Gross Margin	74.4%	—	77.1%	—	-2.7pp
Net Margin	14.4%	—	15.3%	—	-0.9pp
EPS (Diluted)	$3.43	—	$3.05	—	12.5%
Free Cash Flow	$142M	—	$126M	—	12.7%

Revenue Flow

Item	Amount
REVENUE	$392M
Cost of Revenue	$100M
GROSS PROFIT	$292M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$159M
SG&A Expenses	$172M
Other Expenses	$28M
Operating Expenses	$200M
Cost & Expenses	$301M
OPERATING INCOME	$92M
Interest Income	$331M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$35M
Net Income from Continuing Ops	$56M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$56M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$56M
D&A	$8M
EBIT	$92M
EBITDA	$100M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$392M
Cost of Revenue	$100M
GROSS PROFIT	$292M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$159M
SG&A Expenses	$172M
Other Expenses	$28M
Operating Expenses	$200M
Cost & Expenses	$301M
OPERATING INCOME	$92M
Interest Income	$331M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$35M
Net Income from Continuing Ops	$56M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$56M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$56M
D&A	$8M
EBIT	$92M
EBITDA	$100M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$56M
Depreciation & Amortization	$8M
Stock-Based Compensation	$5M
Deferred Income Tax	$3M
Other Non-Cash Items	$87M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$154M
Capital Expenditure	-$12M
Acquisitions (Net)	-$9M
Purchases of Investments	-$9M
Sales/Maturities of Investments	$0
Other Investing Activities	-$119M
NET CASH FROM INVESTING	-$149M
Net Debt Issuance	-$769.8K
Common Stock Repurchased	-$8M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$6M
FREE CASH FLOW	$142M
Net Change in Cash	-$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6M
PP&E (Net)	$23M
Goodwill	$6M
Intangible Assets	$9M
Long-Term Investments	$460M
Tax Assets	$12M
Other Non-Current Assets	$10M
TOTAL NON-CURRENT ASSETS	$520M
TOTAL ASSETS	$526M
Account Payables	$95M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$116M
Long-Term Debt	$102M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$113M
TOTAL LIABILITIES	$230M
Common Stock	$0
Additional Paid-In Capital	$17M
Retained Earnings	$284M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$296M
Minority Interest	$0
TOTAL EQUITY	$296M
TOTAL LIABILITIES & EQUITY	$526M
Total Debt	$102M
Net Debt	$96M