Perdoceo Education (PRDO) FY2013 results: revenue $1.0 billion, down 0.3% on the year
Perdoceo Education Corp. (PRDO) reported revenue of $1.0 billion for fiscal 2013, the year ended 31 December 2013, down 0.3% on the year before. Net income was -$164 million, and diluted earnings per share $-2.46. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$1.0 billion
-0.3% on the year
FY2008FY2013
Operating margin
-15.9%
-6.8% a year earlier
FY2008FY2013
Net income
-$164 million
FY2008FY2013
Diluted EPS
-$2.46
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,017
1,020
1,706
-0.3%
Operating income
-162
-69.7
11.2
Operating margin
-15.9%
-6.8%
0.7%
Interest expense
1.4
0.1
0.2
+910.4%
Pre-tax income
-169
-68.8
13.7
Income tax
0.5
-3.9
42.5
Effective tax rate
n/a
n/a
308.9%
Net income
-164
-143
18.6
Net margin
-16.1%
-14.0%
1.1%
Diluted EPS
-$2.46
-$2.15
$0.25
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
-85.8
-16.8
230
Capital expenditure
19.6
37.9
78.3
-48.3%
Free cash flow
-105
-54.7
152
Free cash flow margin
-10.4%
-5.4%
8.9%
Cash from investing
167
58.4
-66.2
+185.9%
Cash from financing
6.1
-79.7
-163
Depreciation and amortisation
73.2
81.8
85.4
-10.6%
Share-based compensation
6.7
9.7
14.8
-30.8%
Buybacks
n/a
56.4
150
Diluted shares, weighted
67m
66m
74m
+0.4%
Shares outstanding at period end
67m
67m
74m
+0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
455
612
806
-25.6%
Redeemable equity
n/a
n/a
0.1
Debt
0.0
80.0
0.2
Other liabilities
350
431
510
-18.9%
Total liabilities and equity
805
1,123
1,316
-28.3%
Fixed assets
112
248
350
-54.8%
Goodwill
87.4
87.4
171
0.0%
Intangible assets
12.8
56.0
76.3
-77.1%
Investments
31.6
63.9
161
-50.5%
Cash and equivalents
319
112
172
+183.7%
Receivables
28.0
54.2
60.0
-48.3%
Inventory
4.6
8.4
11.4
-45.1%
Other assets
210
493
316
-57.4%
Total assets
805
1,123
1,316
-28.3%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.