2013 Q1 Form 10-Q Financial Statement

#000010838513000006 Filed on February 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2012 Q1
Revenue $161.8M $149.6M $148.9M
YoY Change 8.69% 10.07% 8.77%
Cost Of Revenue $5.000M $4.400M $3.200M
YoY Change 56.25% 33.33% -8.57%
Gross Profit $156.8M $145.2M $145.7M
YoY Change 7.62% 9.5% 9.22%
Gross Profit Margin 96.88% 97.03% 97.85%
Selling, General & Admin $75.30M $74.50M $68.10M
YoY Change 10.57% 13.22% 9.31%
% of Gross Profit 48.02% 51.31% 46.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.100M $1.900M $2.100M
YoY Change 0.0% -5.0% -4.55%
% of Gross Profit 1.34% 1.31% 1.44%
Operating Expenses $96.50M $116.6M $85.20M
YoY Change 13.26% 10.33% 6.9%
Operating Profit $60.30M $28.60M $60.50M
YoY Change -0.33% 6.26% 12.66%
Interest Expense $4.998M $4.404M
YoY Change 31.93%
% of Operating Profit 8.29% 15.4%
Other Income/Expense, Net
YoY Change
Pretax Income $60.30M $33.04M $60.50M
YoY Change -0.33% 9.18% 12.66%
Income Tax $22.44M $12.37M $22.90M
% Of Pretax Income 37.21% 37.43% 37.85%
Net Earnings $37.90M $20.67M $37.60M
YoY Change 0.8% 5.58% 9.94%
Net Earnings / Revenue 23.42% 13.82% 25.25%
Basic Earnings Per Share $3.08 $1.61
Diluted Earnings Per Share $3.01 $1.58 $2.541M
COMMON SHARES
Basic Shares Outstanding 12.34M shares 12.84M shares
Diluted Shares Outstanding 13.10M shares

Balance Sheet

Concept 2013 Q1 2012 Q4 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.60M $17.20M $10.80M
YoY Change 7.41% 20.28% 35.0%
Cash & Equivalents $11.63M $17.17M $10.77M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $722.1M $792.2M $660.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $733.7M $809.4M $671.4M
YoY Change 9.28% 10.66% 10.85%
LONG-TERM ASSETS
Property, Plant & Equipment $23.94M $24.10M $23.49M
YoY Change 1.92% 5.72% 0.37%
Goodwill $5.896M $5.896M $5.691M
YoY Change 3.61%
Intangibles $4.625M $4.661M $5.479M
YoY Change -15.6%
Long-Term Investments
YoY Change
Other Assets $29.40M $28.20M $18.50M
YoY Change 58.92% 36.89% 27.59%
Total Long-Term Assets $75.62M $74.78M $63.60M
YoY Change 18.9% 14.7% 4.78%
TOTAL ASSETS
Total Short-Term Assets $733.7M $809.4M $671.4M
Total Long-Term Assets $75.62M $74.78M $63.60M
Total Assets $809.3M $884.2M $735.0M
YoY Change 10.11% 10.99% 10.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.70M $26.80M $25.30M
YoY Change 13.44% 18.06% 8.58%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.60M $32.00M $36.80M
YoY Change 15.76% 13.88% 1.1%
LONG-TERM LIABILITIES
Long-Term Debt $400.3M $492.7M $279.3M
YoY Change 43.32% 49.8% 47.54%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $400.3M $492.7M $279.3M
YoY Change 43.32% 49.8% 48.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.60M $32.00M $36.80M
Total Long-Term Liabilities $400.3M $492.7M $279.3M
Total Liabilities $442.9M $524.7M $316.1M
YoY Change 40.11% 46.97% 41.25%
SHAREHOLDERS EQUITY
Retained Earnings $277.0M $281.2M $356.0M
YoY Change -22.18%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $366.4M $359.5M $418.9M
YoY Change
Total Liabilities & Shareholders Equity $809.3M $884.2M $735.0M
YoY Change 10.11% 10.99% 10.29%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2012 Q1
OPERATING ACTIVITIES
Net Income $37.90M $20.67M $37.60M
YoY Change 0.8% 5.58% 9.94%
Depreciation, Depletion And Amortization $2.100M $1.900M $2.100M
YoY Change 0.0% -5.0% -4.55%
Cash From Operating Activities $76.00M $61.80M $69.10M
YoY Change 9.99% 17.94% 12.36%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$1.500M -$2.300M
YoY Change -21.74% 0.0% 43.75%
Acquisitions
YoY Change
Other Investing Activities $51.60M -$100.9M $42.60M
YoY Change 21.13% -0.88% 4.67%
Cash From Investing Activities $49.80M -$102.4M $40.30M
YoY Change 23.57% -0.87% 3.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -131.8M 45.10M -113.2M
YoY Change 16.43% -13.77% 7.3%
NET CHANGE
Cash From Operating Activities 76.00M 61.80M 69.10M
Cash From Investing Activities 49.80M -102.4M 40.30M
Cash From Financing Activities -131.8M 45.10M -113.2M
Net Change In Cash -6.000M 4.500M -3.800M
YoY Change 57.89% 221.43% -22.45%
FREE CASH FLOW
Cash From Operating Activities $76.00M $61.80M $69.10M
Capital Expenditures -$1.800M -$1.500M -$2.300M
Free Cash Flow $77.80M $63.30M $71.40M
YoY Change 8.96% 17.44% 13.15%

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dei Document Type
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CY2012Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2012Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2012 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Stock Repurchased During Period Shares
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CY2012 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2012 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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us-gaap Stock Repurchased During Period Value
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CY2012Q4 us-gaap Stockholders Equity
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CY2012Q1 us-gaap Stockholders Equity
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CY2011Q1 us-gaap Stockholders Equity
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CY2012 us-gaap Tax Benefit From Stock Options Exercised1
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us-gaap Tax Benefit From Stock Options Exercised1
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us-gaap Unrealized Gain Loss On Derivatives
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CY2012Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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15046415 shares
CY2012Q4 wrld Number Of Subsidiaries Required To Be Assessed
NumberOfSubsidiariesRequiredToBeAssessed
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wrld Original Fair Value Of Customer List For Office Acquisition Description
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less than $100,000
CY2012Q4 wrld Specified Period For Resolution Of Unrecognized Tax Benefits
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CY2011Q4 wrld Strike Price Of Warrants
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CY2012Q4 wrld Financing Receivable Bankruptcy
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CY2012Q4 wrld Financing Receivables Delinquent Excluding Bankruptcy
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CY2012Q4 wrld Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy
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CY2011Q4 wrld Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy
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CY2012Q4 wrld Gross Unrecognized Tax Benefits Expected To Be Resolved During Next12 Months Through Settlements With Taxing Authorities Or Expiration Of Statute Of Limitations
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1700000 USD
wrld Net Assets Acquired From Acquisition Intangibles
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424192 USD
wrld Net Assets Acquired From Acquisition Intangibles
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640570 USD
wrld Net Assets Acquired From Acquisition Primarily Loans
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wrld Net Assets Acquired From Acquisition Primarily Loans
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CY2012Q4 wrld Number Of Offices Purchased
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CY2011Q4 wrld Number Of Offices Purchased
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CY2012Q4 wrld Number Of Offices Purchased And Merged Into Existing Offices
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CY2011Q4 wrld Number Of Offices Purchased And Merged Into Existing Offices
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CY2011Q4 wrld Total Acquisitions
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CY2012Q4 wrld Total Acquisitions
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9 acquisition
CY2012Q1 wrld Unearned Interest And Fees
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dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
dei Entity Central Index Key
EntityCentralIndexKey
0000108385
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
12339238 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
WORLD ACCEPTANCE CORP
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
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