WRLD FY 2014 Earnings Report — World Acceptance Corporation Revenue & Financial Results | Market Cap Arena

World Acceptance CorporationWRLD

FY 2014 Earnings

Reported June 12, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$599M	—	$564M	—	6.3%
Op. Income	$170M	—	$166M	—	2.4%
Gross Margin	75.3%	—	76.6%	—	-1.3pp
Net Margin	17.8%	—	18.5%	—	-0.7pp
EPS (Diluted)	$9.08	—	$7.88	—	15.2%
Free Cash Flow	$238M	—	$224M	—	6.2%

Revenue Flow

Item	Amount
REVENUE	$599M
Cost of Revenue	$148M
GROSS PROFIT	$451M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$225M
SG&A Expenses	$241M
Other Expenses	$40M
Operating Expenses	$281M
Cost & Expenses	$429M
OPERATING INCOME	$170M
Interest Income	$524M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$170M
Income Tax Expense	$64M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$7M
EBIT	$170M
EBITDA	$178M
EPS	$10
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$599M
Cost of Revenue	$148M
GROSS PROFIT	$451M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$225M
SG&A Expenses	$241M
Other Expenses	$40M
Operating Expenses	$281M
Cost & Expenses	$429M
OPERATING INCOME	$170M
Interest Income	$524M
Interest Expense	$21M
Other Income/Expenses	$0
INCOME BEFORE TAX	$170M
Income Tax Expense	$64M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$7M
EBIT	$170M
EBITDA	$178M
EPS	$10
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$107M
Depreciation & Amortization	$7M
Stock-Based Compensation	$15M
Deferred Income Tax	-$4M
Other Non-Cash Items	$127M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$246M
Capital Expenditure	-$8M
Acquisitions (Net)	-$775.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$157M
NET CASH FROM INVESTING	-$166M
Net Debt Issuance	$105M
Common Stock Repurchased	-$191M
Common Dividends Paid	$0
Other Financing Activities	$13M
NET CASH FROM FINANCING	-$72M
FREE CASH FLOW	$238M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$20M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$20M
PP&E (Net)	$25M
Goodwill	$6M
Intangible Assets	$4M
Long-Term Investments	$751M
Tax Assets	$34M
Other Non-Current Assets	$12M
TOTAL NON-CURRENT ASSETS	$830M
TOTAL ASSETS	$850M
Account Payables	$28M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$28M
Long-Term Debt	$506M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$515M
TOTAL LIABILITIES	$543M
Common Stock	$0
Additional Paid-In Capital	$118M
Retained Earnings	$193M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$307M
Minority Interest	$0
TOTAL EQUITY	$307M
TOTAL LIABILITIES & EQUITY	$850M
Total Debt	$506M
Net Debt	$486M