CPLA final - Capella Education Company Quarterly Income...

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Unformatted text preview: Capella Education Company Quarterly Income Statement (in thousands of $) 2005A 2006A Revenues $149,240.00 $179,881.00 Cost of Revenues: Instructional Costs (71,243.00) (83,627.00) Marketing & Promotional (45,623.00) (56,646.00) Gross Profit 32,374.00 39,608.00 Operating Expenses: Selling, General, and Administrative Expenses (17,501.00) (21,765.00) Total Operating Expenses (17,501.00) (21,765.00) Income from Operations 14,873.00 17,843.00 Other Income (Expense) 2,306.00 4,472.00 EBIT 17,179.00 22,315.00 Income Tax Expense (6,929.00) (8,904.00) Net Income After Taxes 10,250.00 13,411.00 Net Income 10,250.00 13,411.00 Fully Diluted Weighted Average Outstanding 11,975.00 12,629.00 EPS 0.86 1.06 Margin Analysis 2005A 2006A Cost of Sales: 0.78 0.78 Instructional Costs 0.48 0.46 Marketing & Promotional 0.31 0.31 Gross Margin 0.22 0.22 Operating Expenses Selling, General, and Administrative Expenses 0.12 0.12 Operating Margin 0.10 0.10 Net Non- Operating Gains 0.02 0.02 Tax Rate 0.40 0.40 Net Margin 0.07 0.07 Y/Y Percentage Change 2005A 2006A Revenues 0.21 Costs of Revenue 0.20 Operating Expenses 0.24 Net Income 0.31 Revenue CAGR Net Income CAGR 2007A 2008A 2009A AVERAGE 2010E 2011E $226,236.00 $272,295.00 $334,643.00 $414,957.32 $514,547.08 (100,129.00) (120,347.00) (135,286.00) (165,982.93) (205,818.83) (69,779.00) (82,733.00) (99,632.00) (124,487.20) (149,218.65) 56,328.00 69,215.00 99,725.00 124,487.20 159,509.59 (26,378.00) (29,113.00) (35,803.00) (45,645.31) (56,600.18) (26,378.00) (29,113.00) (35,803.00) (45,645.31) (56,600.18) 29,950.00 40,102.00 63,922.00 78,841.89 102,909.42 4,903.00 4,061.00 2,384.00 2,074.79 1,543.64 34,853.00 44,163.00 66,306.00 80,916.68 104,453.06 (12,069.00) (15,375.00) (23,637.00) (28,320.84) (36,558.57) 22,784.00 28,788.00 42,669.00 52,595.84 67,894.49 22,784.00 28,788.00 42,669.00 52,595.84 67,894.49 17,141.00 17,322.00 17,030.00 17,030.00 17,030.00 17,030.00 1.33 1.66 2.51 3.09 3.99 2007A 2008A 2009A AVERAGE 2010E 2011E 0.75 0.75 0....
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This note was uploaded on 04/08/2010 for the course ENGL 4000 taught by Professor Smith during the Spring '10 term at Saginaw Valley.

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CPLA final - Capella Education Company Quarterly Income...

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