Financial Statements for ITT Educational Services, Inc.

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ITT Educational Services, Inc. financials

In Millions of USD (except for per share items)	3 months ending 2009-09-30	3 months ending 2009-06-30	3 months ending 2009-03-31	3 months ending 2008-12-31	3 months ending 2008-09-30
Revenue	339.64	317.14	288.03	279.80	254.27
Other Revenue, Total	-	-	-	-	-
Total Revenue	339.64	317.14	288.03	279.80	254.27
Cost of Revenue, Total	116.73	110.79	101.09	101.55	95.01
Gross Profit	222.91	206.35	186.95	178.25	159.26
Selling/General/Admin. Expenses, Total	100.19	89.06	86.80	76.16	78.50
Research & Development	-	-	-	-	-
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	-	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	216.92	199.85	187.89	177.71	173.51
Operating Income	122.73	117.29	100.14	102.09	80.76
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	-	-	-
Income Before Tax	123.25	117.96	101.18	102.80	81.31
Income After Tax	75.36	71.92	61.93	63.02	50.19
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	75.36	71.92	61.93	63.02	50.19
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	75.36	71.92	61.93	63.02	50.19
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	75.36	71.92	61.93	63.02	50.19
Income Available to Common Incl. Extra Items	75.36	71.92	61.93	63.02	50.19
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	-
Diluted Weighted Average Shares	37.76	38.42	39.06	39.10	39.20
Diluted EPS Excluding Extraordinary Items	2.00	1.87	1.59	1.61	1.28
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	2.00	1.87	1.59	1.61	1.28

In Millions of USD (except for per share items)	12 months ending 2008-12-31	12 months ending 2007-12-31	12 months ending 2006-12-31	12 months ending 2005-12-31
Revenue	1,015.33	869.51	757.76	688.00
Other Revenue, Total	-	-	-	-
Total Revenue	1,015.33	869.51	757.76	688.00
Cost of Revenue, Total	383.77	358.60	356.85	328.34
Gross Profit	631.56	510.91	400.91	359.66
Selling/General/Admin. Expenses, Total	303.69	268.88	219.82	193.00
Research & Development	-	-	-	-
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	0.00	-0.43	1.22
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	687.46	627.48	576.24	522.57
Operating Income	327.87	242.03	181.52	165.44
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-	-	-	-
Income Before Tax	329.76	244.49	189.63	174.29
Income After Tax	202.97	151.59	118.52	109.71
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	202.97	151.59	118.52	109.71
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	202.97	151.59	118.52	109.71
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	202.97	151.59	118.52	109.71
Income Available to Common Incl. Extra Items	202.97	151.59	118.52	109.71
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	-
Diluted Weighted Average Shares	39.24	40.88	43.63	47.11
Diluted EPS Excluding Extraordinary Items	5.17	3.71	2.72	2.33
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	5.17	3.71	2.71	2.35

In Millions of USD (except for per share items)	As of 2009-09-30	As of 2009-06-30	As of 2009-03-31	As of 2008-12-31	As of 2008-09-30
Cash & Equivalents	130.97	140.20	219.64	226.25	136.70
Short Term Investments	144.15	144.50	146.06	138.71	150.00
Cash and Short Term Investments	275.12	284.70	365.70	364.96	286.70
Accounts Receivable - Trade, Net	93.82	69.75	51.51	29.78	33.31
Receivables - Other	-	-	-	-	-
Total Receivables, Net	93.82	69.75	51.51	29.78	33.31
Total Inventory	-	-	-	-	-
Prepaid Expenses	19.11	15.98	15.96	13.79	12.98
Other Current Assets, Total	22.05	14.20	12.15	22.51	13.03
Total Current Assets	410.09	384.63	445.33	431.05	346.02
Property/Plant/Equipment, Total - Gross	-	-	-	-	-
Goodwill, Net	-	-	-	-	-
Intangibles, Net	-	-	-	-	-
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	47.93	46.22	28.31	26.14	42.17
Total Assets	650.36	624.90	640.23	623.86	554.33
Accounts Payable	67.18	62.42	63.66	54.81	58.78
Accrued Expenses	39.22	36.48	35.57	32.56	40.85
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	150.00	-	-	-	0.00
Other Current liabilities, Total	154.12	138.62	170.10	177.18	143.80
Total Current Liabilities	410.53	237.52	269.32	264.55	243.43
Long Term Debt	0.00	150.00	150.00	150.00	150.00
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	0.00	150.00	150.00	150.00	150.00
Total Debt	150.00	150.00	150.00	150.00	150.00
Deferred Income Tax	4.09	0.17	0.73	1.50	10.11
Minority Interest	-	-	-	-	-
Other Liabilities, Total	22.26	21.95	20.81	19.95	19.21
Total Liabilities	436.88	409.63	440.86	436.01	422.74
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.54	0.54	0.54	0.54	0.54
Additional Paid-In Capital	151.65	147.37	144.00	135.66	133.72
Retained Earnings (Accumulated Deficit)	929.91	858.33	786.68	732.11	670.07
Treasury Stock - Common	-856.06	-778.11	-718.57	-667.07	-669.33
Other Equity, Total	-12.56	-12.87	-13.29	-13.38	-3.42
Total Equity	213.48	215.27	199.37	187.85	131.59
Total Liabilities & Shareholders' Equity	650.36	624.90	640.23	623.86	554.33
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	36.95	37.71	38.33	38.72	38.69

In Millions of USD (except for per share items)	As of 2008-12-31	As of 2007-12-31	As of 2006-12-31	As of 2005-12-31
Cash & Equivalents	226.25	7.23	161.91	13.73
Short Term Investments	138.71	303.36	195.01	388.15
Cash and Short Term Investments	364.96	310.59	356.91	401.89
Accounts Receivable - Trade, Net	29.78	15.13	9.37	13.99
Receivables - Other	-	-	-	-
Total Receivables, Net	29.78	15.13	9.37	13.99
Total Inventory	-	-	-	-
Prepaid Expenses	13.79	10.62	9.90	16.94
Other Current Assets, Total	22.51	13.48	4.77	4.19
Total Current Assets	431.05	349.82	380.95	437.01
Property/Plant/Equipment, Total - Gross	277.73	263.53	247.91	234.20
Goodwill, Net	-	-	-	-
Intangibles, Net	-	-	-	-
Long Term Investments	-	-	-	9.54
Other Long Term Assets, Total	26.14	37.87	30.96	18.54
Total Assets	623.86	540.95	560.32	592.49
Accounts Payable	54.81	45.12	47.95	56.10
Accrued Expenses	47.53	33.68	34.40	19.58
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-
Other Current liabilities, Total	162.21	213.13	202.16	175.45
Total Current Liabilities	264.55	291.92	284.50	251.14
Long Term Debt	150.00	150.00	150.00	0.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	150.00	150.00	150.00	0.00
Total Debt	150.00	150.00	150.00	0.00
Deferred Income Tax	1.50	11.75	13.71	15.36
Minority Interest	-	-	-	-
Other Liabilities, Total	19.95	16.72	8.16	17.39
Total Liabilities	436.01	470.39	456.38	283.90
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.54	0.54	0.54	0.54
Additional Paid-In Capital	135.66	127.02	83.33	68.71
Retained Earnings (Accumulated Deficit)	732.11	531.36	471.85	389.68
Treasury Stock - Common	-667.07	-584.95	-445.24	-144.32
Other Equity, Total	-13.38	-3.42	-6.53	-6.02
Total Equity	187.85	70.56	103.94	308.59
Total Liabilities & Shareholders' Equity	623.86	540.95	560.32	592.49
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	38.72	39.69	41.04	45.69

In Millions of USD (except for per share items)	9 months ending 2009-09-30	6 months ending 2009-06-30	3 months ending 2009-03-31	12 months ending 2008-12-31
Net Income/Starting Line	209.21	133.85	61.93	202.97
Depreciation/Depletion	18.20	11.93	5.77	22.23
Amortization	-	-	-	-
Deferred Taxes	-2.34	-3.81	-1.04	-8.45
Non-Cash Items	60.68	35.88	14.73	50.92
Changes in Working Capital	-128.04	-95.08	-20.07	-94.71
Cash from Operating Activities	157.71	82.76	61.33	172.96
Capital Expenditures	-18.43	-13.86	-5.68	-35.64
Other Investing Cash Flow Items, Total	-39.40	-40.14	-7.17	165.08
Cash from Investing Activities	-57.83	-54.00	-12.85	129.44
Financing Cash Flow Items	5.27	3.89	3.79	1.16
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-200.44	-118.70	-58.88	-84.53
Issuance (Retirement) of Debt, Net	-	-	-	0.00
Cash from Financing Activities	-195.16	-114.81	-55.09	-83.38
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-95.28	-86.05	-6.61	219.03
Cash Interest Paid, Supplemental	-	-	-	5.04
Cash Taxes Paid, Supplemental	-	-	-	123.22

In Millions of USD (except for per share items)	12 months ending 2008-12-31	12 months ending 2007-12-31	12 months ending 2006-12-31	12 months ending 2005-12-31
Net Income/Starting Line	202.97	151.59	118.52	109.71
Depreciation/Depletion	22.23	23.25	21.64	17.82
Amortization	-	-	-	-
Deferred Taxes	-8.45	-6.74	-1.91	5.23
Non-Cash Items	50.92	-13.78	-0.36	19.38
Changes in Working Capital	-94.71	23.97	25.97	2.03
Cash from Operating Activities	172.96	178.29	163.86	154.18
Capital Expenditures	-35.64	-28.10	-42.65	-46.48
Other Investing Cash Flow Items, Total	165.08	-108.35	202.68	-58.76
Cash from Investing Activities	129.44	-136.46	160.04	-105.24
Financing Cash Flow Items	1.16	37.48	14.29	0.00
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-84.53	-233.99	-340.01	-44.60
Issuance (Retirement) of Debt, Net	0.00	0.00	150.00	0.00
Cash from Financing Activities	-83.38	-196.51	-175.72	-44.60
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	219.03	-154.68	148.17	4.35
Cash Interest Paid, Supplemental	5.04	7.85	0.00	0.00
Cash Taxes Paid, Supplemental	123.22	59.62	43.90	63.73