WRLD FY 2012 Earnings Report — World Acceptance Corporation Revenue & Financial Results | Market Cap Arena

World Acceptance CorporationWRLD

FY 2012 Earnings

Reported February 19, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$540M	—	$491M	—	9.9%
Op. Income	$160M	—	$143M	—	11.6%
Gross Margin	77.9%	—	77.5%	—	0.4pp
Net Margin	18.6%	—	18.6%	—	0.1pp
EPS (Diluted)	$6.59	—	$5.63	—	17.1%
Free Cash Flow	$212M	—	$193M	—	9.9%

Revenue Flow

Item	Amount
REVENUE	$540M
Cost of Revenue	$120M
GROSS PROFIT	$421M
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$211M
SG&A Expenses	$225M
Other Expenses	$36M
Operating Expenses	$261M
Cost & Expenses	$380M
OPERATING INCOME	$160M
Interest Income	$466M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$160M
Income Tax Expense	$59M
Net Income from Continuing Ops	$101M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$101M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$8M
EBIT	$160M
EBITDA	$168M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$540M
Cost of Revenue	$120M
GROSS PROFIT	$421M
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$211M
SG&A Expenses	$225M
Other Expenses	$36M
Operating Expenses	$261M
Cost & Expenses	$380M
OPERATING INCOME	$160M
Interest Income	$466M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$160M
Income Tax Expense	$59M
Net Income from Continuing Ops	$101M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$101M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$8M
EBIT	$160M
EBITDA	$168M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$101M
Depreciation & Amortization	$8M
Stock-Based Compensation	$7M
Deferred Income Tax	-$4M
Other Non-Cash Items	$108M
Change in Working Capital	$373.4K
OPERATING CASH FLOW	$219M
Capital Expenditure	-$8M
Acquisitions (Net)	-$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$167M
NET CASH FROM INVESTING	-$178M
Net Debt Issuance	$90M
Common Stock Repurchased	-$140M
Common Dividends Paid	$0
Other Financing Activities	$12M
NET CASH FROM FINANCING	-$38M
FREE CASH FLOW	$212M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$11M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11M
PP&E (Net)	$23M
Goodwill	$6M
Intangible Assets	$5M
Long-Term Investments	$661M
Tax Assets	$18M
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$724M
TOTAL ASSETS	$735M
Account Payables	$25M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$51M
Long-Term Debt	$279M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$14M
TOTAL NON-CURRENT LIABILITIES	$265M
TOTAL LIABILITIES	$316M
Common Stock	$0
Additional Paid-In Capital	$66M
Retained Earnings	$356M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$419M
Minority Interest	$0
TOTAL EQUITY	$419M
TOTAL LIABILITIES & EQUITY	$735M
Total Debt	$279M
Net Debt	$268M