Education Management Corporation (EDMCQ)

Education Management Income Statement

Financials in millions USD. Fiscal year is July - June.

Fiscal Year	FY 2014	FY 2013	FY 2012	FY 2011	FY 2010
Period Ending	Jun 30, 2014	Jun 30, 2013	Jun 30, 2012	Jun 30, 2011	Jun 30, 2010
Revenue	2,273	2,499	2,761	2,888	2,509
Revenue Growth (YoY)	-9.04%	-9.50%	-4.39%	15.11%	24.71%
Cost of Revenue	1,367	1,447	1,502	1,473	1,100
Gross Profit	905.34	1,052	1,259	1,414	1,409
Selling, General & Admin	667.57	689.14	762.86	766.55	836.75
Operating Expenses	820.07	849.26	921.53	913.03	960.11
Operating Income	85.27	202.25	337.09	501.27	448.41
Interest Expense	-128.03	-124.66	-110.33	-120.69	-121.46
EBT Excluding Unusual Items	-42.76	77.58	226.76	380.58	326.95
Impairment of Goodwill	-568.22	-300.1	-1,662	-	-
Asset Writedown	-6.3	-4.6	-	-	-
Other Unusual Items	-	-5.23	-9.47	-11.37	-76.81
Pretax Income	-617.28	-232.35	-1,445	369.21	250.15
Income Tax Expense	46.64	12.04	-11.44	139.7	81.64
Net Income	-663.92	-244.39	-1,434	229.51	168.51
Net Income to Common	-663.92	-244.39	-1,434	229.51	168.51
Net Income Growth	-	-	-	36.20%	61.40%
Shares Outstanding (Basic)	126	125	127	137	137
Shares Outstanding (Diluted)	126	125	127	138	138
Shares Change (YoY)	0.76%	-1.66%	-8.43%	0.47%	14.94%
EPS (Basic)	-5.29	-1.96	-11.32	1.67	1.23
EPS (Diluted)	-5.29	-1.96	-11.32	1.66	1.22
EPS Growth	-	-	-	36.07%	40.23%
Free Cash Flow	-3.11	108.07	-104.4	261.63	131.33
Free Cash Flow Per Share	-0.03	0.87	-0.82	1.89	0.95
Gross Margin	39.84%	42.08%	45.59%	48.98%	56.15%
Operating Margin	3.75%	8.09%	12.21%	17.36%	17.88%
Profit Margin	-29.21%	-9.78%	-51.92%	7.95%	6.72%
Free Cash Flow Margin	-0.14%	4.32%	-3.78%	9.06%	5.24%
EBITDA	219.47	346.76	481.05	633.15	559.97
EBITDA Margin	9.66%	13.88%	17.42%	21.93%	22.32%
D&A For EBITDA	134.2	144.51	143.96	131.88	111.56
EBIT	85.27	202.25	337.09	501.27	448.41
EBIT Margin	3.75%	8.09%	12.21%	17.36%	17.88%
Effective Tax Rate	-	-	-	37.84%	32.64%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.