Perdoceo Education (PRDO) FY2014 results: revenue $914 million, down 10.2% on the year
Perdoceo Education Corp. (PRDO) reported revenue of $914 million for fiscal 2014, the year ended 31 December 2014, down 10.2% on the year before. Net income was -$178 million, and diluted earnings per share $-2.65. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2015.
Revenue
$914 million
-10.2% on the year
FY2008FY2014
Operating margin
-15.2%
-15.9% a year earlier
FY2008FY2014
Net income
-$178 million
FY2008FY2014
Diluted EPS
-$2.65
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
914
1,017
1,020
-10.2%
Operating income
-139
-162
-69.7
Operating margin
-15.2%
-15.9%
-6.8%
Interest expense
0.5
1.4
0.1
-63.7%
Pre-tax income
-139
-169
-68.8
Income tax
3.7
0.5
-3.9
+719.3%
Net income
-178
-164
-143
Net margin
-19.5%
-16.1%
-14.0%
Diluted EPS
-$2.65
-$2.46
-$2.15
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
-119
-85.8
-16.8
Capital expenditure
13.2
19.6
37.9
-33.0%
Free cash flow
-132
-105
-54.7
Free cash flow margin
-14.4%
-10.4%
-5.4%
Cash from investing
-108
167
58.4
Cash from financing
1.0
6.1
-79.7
-83.9%
Depreciation and amortisation
55.5
73.2
81.8
-24.2%
Share-based compensation
4.3
6.7
9.7
-36.2%
Buybacks
n/a
n/a
56.4
Diluted shares, weighted
67m
67m
66m
+0.7%
Shares outstanding at period end
68m
67m
67m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
282
455
612
-38.1%
Debt
10.0
0.0
80.0
Other liabilities
282
350
431
-19.5%
Total liabilities and equity
574
805
1,123
-28.8%
Fixed assets
116
112
248
+3.1%
Goodwill
87.4
87.4
87.4
0.0%
Intangible assets
28.2
12.8
56.0
+120.2%
Investments
123
31.6
63.9
+288.9%
Cash and equivalents
93.8
319
112
-70.6%
Receivables
31.4
28.0
54.2
+12.2%
Inventory
5.0
4.6
8.4
+9.3%
Other assets
89.2
210
493
-57.4%
Total assets
574
805
1,123
-28.8%
10-K for the year ended 31 December 2014, filed 3 March 2015: the filing.