$LINC
LINCOLN EDUCATIONAL SERVICES CORP

2022 Q1 Form 10-Q Financial Statement

#000114036122018315 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $82.55M $78.00M
YoY Change 5.84% 11.36%
Cost Of Revenue $36.20M $32.34M
YoY Change 11.91% 6.96%
Gross Profit $46.36M $45.65M
YoY Change 1.55% 14.69%
Gross Profit Margin 56.15% 58.53%
Selling, General & Admin $46.68M $39.63M
YoY Change 17.79% -3.68%
% of Gross Profit 100.7% 86.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.528M $1.901M
YoY Change -19.62% 0.58%
% of Gross Profit 3.3% 4.16%
Operating Expenses $46.68M $39.63M
YoY Change 17.79% -3.68%
Operating Profit -$326.0K $6.019M
YoY Change -105.42% -547.18%
Interest Expense $43.00K $285.0K
YoY Change -84.91% -19.49%
% of Operating Profit 4.74%
Other Income/Expense, Net
YoY Change
Pretax Income -$369.0K $5.734M
YoY Change -106.44% -437.29%
Income Tax -$600.0K $1.200M
% Of Pretax Income 20.93%
Net Earnings $272.0K $4.489M
YoY Change -93.94% -356.51%
Net Earnings / Revenue 0.33% 5.76%
Basic Earnings Per Share $0.00 $0.13
Diluted Earnings Per Share $0.00 $0.13
COMMON SHARES
Basic Shares Outstanding 25.72M 24.89M
Diluted Shares Outstanding 25.72M 24.89M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.60M $26.70M
YoY Change 145.69% 175.26%
Cash & Equivalents $65.60M $26.74M
Short-Term Investments
Other Short-Term Assets $9.923M $10.80M
YoY Change -8.12% 145.45%
Inventory $2.640M $2.666M
Prepaid Expenses
Receivables $34.87M $30.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $113.0M $70.78M
YoY Change 59.68% 66.58%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $49.04M
YoY Change 142.32% -0.67%
Goodwill $14.50M $14.50M
YoY Change 0.0% -0.25%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $24.43M $802.0K
YoY Change 2946.26% -19.72%
Total Long-Term Assets $174.7M $169.1M
YoY Change 3.31% 33.38%
TOTAL ASSETS
Total Short-Term Assets $113.0M $70.78M
Total Long-Term Assets $174.7M $169.1M
Total Assets $287.7M $239.9M
YoY Change 19.94% 41.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.08M $17.72M
YoY Change -26.16% 39.52%
Accrued Expenses $20.52M $10.71M
YoY Change 91.53% 24.69%
Deferred Revenue $21.20M $20.20M
YoY Change 4.95% 10.48%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.000M
YoY Change -100.0% 0.0%
Total Short-Term Liabilities $55.05M $60.55M
YoY Change -9.09% 18.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $14.76M
YoY Change -100.0% -10.97%
Other Long-Term Liabilities $92.06M $2.924M
YoY Change 3048.29% 211.4%
Total Long-Term Liabilities $92.06M $17.68M
YoY Change 420.65% 0.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.05M $60.55M
Total Long-Term Liabilities $92.06M $17.68M
Total Liabilities $147.1M $133.0M
YoY Change 10.59% 14.31%
SHAREHOLDERS EQUITY
Retained Earnings $10.39M
YoY Change -123.71%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $82.86M
YoY Change 0.0%
Treasury Stock Shares $5.911M
Shareholders Equity $128.6M $94.86M
YoY Change
Total Liabilities & Shareholders Equity $287.7M $239.9M
YoY Change 19.94% 41.71%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $272.0K $4.489M
YoY Change -93.94% -356.51%
Depreciation, Depletion And Amortization $1.528M $1.901M
YoY Change -19.62% 0.58%
Cash From Operating Activities -$14.37M -$8.299M
YoY Change 73.12% -30.53%
INVESTING ACTIVITIES
Capital Expenditures -$1.054M $1.219M
YoY Change -186.46% -5.28%
Acquisitions
YoY Change
Other Investing Activities $9.000K
YoY Change
Cash From Investing Activities -$1.045M -$1.219M
YoY Change -14.27% -5.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $500.0K
YoY Change -98.11%
Cash From Financing Activities -2.296M -1.766M
YoY Change 30.01% -88.73%
NET CHANGE
Cash From Operating Activities -14.37M -8.299M
Cash From Investing Activities -1.045M -1.219M
Cash From Financing Activities -2.296M -1.766M
Net Change In Cash -17.71M -11.28M
YoY Change 56.93% -60.96%
FREE CASH FLOW
Cash From Operating Activities -$14.37M -$8.299M
Capital Expenditures -$1.054M $1.219M
Free Cash Flow -$13.31M -$9.518M
YoY Change 39.87% -28.08%

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