WRLD FY 2013 Earnings Report — World Acceptance Corporation Revenue & Financial Results | Market Cap Arena

World Acceptance CorporationWRLD

FY 2013 Earnings

Reported June 14, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$564M	—	$540M	—	4.3%
Op. Income	$166M	—	$160M	—	4.0%
Gross Margin	76.6%	—	77.9%	—	-1.2pp
Net Margin	18.5%	—	18.6%	—	-0.2pp
EPS (Diluted)	$7.88	—	$6.59	—	19.6%
Free Cash Flow	$224M	—	$212M	—	6.0%

Revenue Flow

Item	Amount
REVENUE	$564M
Cost of Revenue	$132M
GROSS PROFIT	$432M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$213M
SG&A Expenses	$228M
Other Expenses	$38M
Operating Expenses	$266M
Cost & Expenses	$397M
OPERATING INCOME	$166M
Interest Income	$485M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$166M
Income Tax Expense	$62M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$8M
EBIT	$166M
EBITDA	$174M
EPS	$9
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$564M
Cost of Revenue	$132M
GROSS PROFIT	$432M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$213M
SG&A Expenses	$228M
Other Expenses	$38M
Operating Expenses	$266M
Cost & Expenses	$397M
OPERATING INCOME	$166M
Interest Income	$485M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$166M
Income Tax Expense	$62M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$8M
EBIT	$166M
EBITDA	$174M
EPS	$9
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$8M
Stock-Based Compensation	$11M
Deferred Income Tax	-$11M
Other Non-Cash Items	$115M
Change in Working Capital	$5M
OPERATING CASH FLOW	$232M
Capital Expenditure	-$8M
Acquisitions (Net)	-$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$172M
NET CASH FROM INVESTING	-$182M
Net Debt Issuance	$121M
Common Stock Repurchased	-$183M
Common Dividends Paid	$0
Other Financing Activities	$12M
NET CASH FROM FINANCING	-$50M
FREE CASH FLOW	$224M
Net Change in Cash	$857.2K

Balance Sheet

Item	Amount
Cash & Equivalents	$12M
Short-Term Investments	$365
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12M
PP&E (Net)	$24M
Goodwill	$6M
Intangible Assets	$5M
Long-Term Investments	$722M
Tax Assets	$29M
Other Non-Current Assets	$12M
TOTAL NON-CURRENT ASSETS	$798M
TOTAL ASSETS	$809M
Account Payables	$29M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$29M
Long-Term Debt	$400M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$414M
TOTAL LIABILITIES	$443M
Common Stock	$0
Additional Paid-In Capital	$90M
Retained Earnings	$277M
Treasury Stock	$0
Accum. Other Comp. Income	-$418.3K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$366M
Minority Interest	$0
TOTAL EQUITY	$366M
TOTAL LIABILITIES & EQUITY	$809M
Total Debt	$400M
Net Debt	$389M