Financial Statements for K12 Inc.

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K12 Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	218.01	206.03	221.10	170.40	178.18
Other Revenue, Total	-	-	-	-	-
Total Revenue	218.01	206.03	221.10	170.40	178.18
Cost of Revenue, Total	127.76	122.80	118.65	102.59	105.95
Gross Profit	90.25	83.23	102.45	67.81	72.22
Selling/General/Admin. Expenses, Total	65.83	61.38	89.62	61.00	53.62
Research & Development	5.07	5.58	4.17	4.78	7.01
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	-	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	198.66	189.76	212.44	168.37	166.59
Operating Income	19.35	16.27	8.66	2.03	11.59
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	-	-	-
Income Before Tax	19.05	16.00	8.43	1.76	11.32
Income After Tax	11.42	9.32	4.54	1.19	6.69
Minority Interest	0.56	0.19	-0.19	0.61	0.29
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	11.97	9.51	4.36	1.80	6.98
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	11.97	9.51	4.36	1.80	6.98
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	11.97	8.84	4.05	1.67	6.48
Income Available to Common Incl. Extra Items	11.97	8.84	4.05	1.67	6.48
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	0.00	0.00	0.00	-
Diluted Weighted Average Shares	36.28	36.12	36.03	35.97	35.91
Diluted EPS Excluding Extraordinary Items	0.33	0.24	0.11	0.05	0.18
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	0.33	0.24	0.11	0.05	0.18

In Millions of USD (except for per share items)	12 months ending 2012-06-30	12 months ending 2011-06-30	12 months ending 2010-06-30	12 months ending 2009-06-30
Revenue	708.41	522.43	384.47	315.57
Other Revenue, Total	-	-	-	-
Total Revenue	708.41	522.43	384.47	315.57
Cost of Revenue, Total	417.00	307.11	222.03	196.98
Gross Profit	291.41	215.32	162.44	118.60
Selling/General/Admin. Expenses, Total	226.24	169.26	113.60	81.98
Research & Development	11.19	4.65	2.78	9.57
Depreciation/Amortization	25.00	17.20	10.60	4.70
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	-
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	679.43	498.22	349.00	293.23
Operating Income	28.98	24.21	35.47	22.34
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-	-	-	-
Income Before Tax	27.99	23.01	34.14	21.36
Income After Tax	16.11	11.66	20.89	11.73
Minority Interest	1.43	1.13	0.64	0.59
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	17.54	12.79	21.52	12.31
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	17.54	12.79	21.52	12.31
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	16.29	11.76	21.52	12.31
Income Available to Common Incl. Extra Items	16.29	11.76	21.52	12.31
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	35.99	32.11	30.25	29.64
Diluted EPS Excluding Extraordinary Items	0.45	0.37	0.71	0.42
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	0.45	0.37	0.71	0.42

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	156.97	143.19	107.94	144.65	123.65
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	156.97	143.19	107.94	144.65	123.65
Accounts Receivable - Trade, Net	234.55	223.31	258.83	160.92	205.31
Receivables - Other	-	-	-	-	-
Total Receivables, Net	234.55	223.31	258.83	160.92	205.31
Total Inventory	29.34	29.47	28.11	37.85	27.52
Prepaid Expenses	21.09	19.83	14.62	11.17	14.43
Other Current Assets, Total	23.41	28.36	35.11	32.24	19.44
Total Current Assets	465.35	444.17	444.62	386.84	390.36
Property/Plant/Equipment, Total - Gross	-	-	-	-	-
Accumulated Depreciation, Total	-	-	-	-	-
Goodwill, Net	61.40	61.50	61.43	61.62	62.40
Intangibles, Net	138.95	137.00	135.21	131.79	124.37
Long Term Investments	10.00	10.00	10.00	10.00	10.00
Other Long Term Assets, Total	2.83	2.90	2.38	2.68	3.22
Total Assets	739.92	718.71	719.50	648.84	651.73
Accounts Payable	19.98	20.12	33.39	23.95	17.28
Accrued Expenses	45.71	35.51	28.40	31.16	32.38
Notes Payable/Short Term Debt	-	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	21.34	20.94	20.68	17.09	17.71
Other Current liabilities, Total	49.52	59.25	69.95	25.41	46.56
Total Current Liabilities	136.55	135.82	152.43	97.61	113.92
Long Term Debt	0.00	0.00	0.39	0.78	1.16
Capital Lease Obligations	20.48	20.62	21.23	15.12	17.54
Total Long Term Debt	20.48	20.62	21.62	15.90	18.70
Total Debt	41.82	41.56	42.30	33.00	36.41
Deferred Income Tax	37.19	34.76	32.52	31.59	15.28
Minority Interest	21.40	21.33	21.27	21.35	21.32
Other Liabilities, Total	10.55	10.82	10.48	8.88	8.69
Total Liabilities	226.16	223.36	238.32	175.34	177.92
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	63.11	63.11	63.11	63.11	63.11
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	534.29	527.57	523.08	519.44	521.50
Retained Earnings (Accumulated Deficit)	-83.32	-95.29	-104.80	-109.16	-110.96
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	-0.33	-0.05	-0.21	0.10	0.16
Total Equity	513.76	495.35	481.18	473.49	473.81
Total Liabilities & Shareholders' Equity	739.92	718.71	719.50	648.84	651.73
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	37.16	36.87	36.84	36.44	36.39

In Millions of USD (except for per share items)	As of 2012-06-30	As of 2011-06-30	As of 2010-06-30	As of 2009-06-30
Cash & Equivalents	144.65	193.10	81.75	49.46
Short Term Investments	-	-	-	-
Cash and Short Term Investments	144.65	193.10	81.75	49.46
Accounts Receivable - Trade, Net	160.92	96.23	71.18	53.03
Receivables - Other	-	-	-	-
Total Receivables, Net	160.92	96.23	71.18	53.03
Total Inventory	37.85	30.55	26.19	32.05
Prepaid Expenses	11.17	10.42	8.85	9.18
Other Current Assets, Total	32.24	17.79	15.30	8.47
Total Current Assets	386.84	348.10	203.28	152.20
Property/Plant/Equipment, Total - Gross	136.76	112.19	79.07	84.80
Accumulated Depreciation, Total	-80.86	-65.56	-54.81	-46.94
Goodwill, Net	61.62	55.63	1.82	1.82
Intangibles, Net	131.79	118.30	70.39	31.93
Long Term Investments	10.00	10.00	0.00	-
Other Long Term Assets, Total	2.68	3.45	8.12	16.86
Total Assets	648.84	582.10	307.88	240.68
Accounts Payable	23.95	21.18	12.69	10.37
Accrued Expenses	31.16	27.21	19.40	16.12
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	17.09	13.36	12.25	11.27
Other Current liabilities, Total	25.41	21.91	9.59	3.39
Total Current Liabilities	97.61	83.65	53.93	41.15
Long Term Debt	0.78	2.30	0.66	1.91
Capital Lease Obligations	15.12	8.55	7.71	9.22
Total Long Term Debt	15.90	10.85	8.37	11.13
Total Debt	33.00	24.21	20.61	22.40
Deferred Income Tax	31.59	9.60	0.00	-
Minority Interest	21.35	21.33	21.52	4.41
Other Liabilities, Total	8.88	8.04	2.22	1.70
Total Liabilities	175.34	133.47	86.03	58.39
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	63.11	63.11	0.00	-
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	519.44	512.18	361.34	343.30
Retained Earnings (Accumulated Deficit)	-109.16	-126.70	-139.50	-161.02
Treasury Stock - Common	-	-	-	-
Other Equity, Total	0.10	0.03	0.00	-
Total Equity	473.49	448.62	221.85	182.29
Total Liabilities & Shareholders' Equity	648.84	582.10	307.88	240.68
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	36.44	35.93	30.44	29.29

In Millions of USD (except for per share items)	9 months ending 2013-03-31	6 months ending 2012-12-31	3 months ending 2012-09-30	12 months ending 2012-06-30
Net Income/Starting Line	25.28	13.86	4.54	16.11
Depreciation/Depletion	48.18	31.89	15.66	58.03
Amortization	-	-	-	-
Deferred Taxes	16.35	9.48	3.49	10.30
Non-Cash Items	7.95	4.73	2.60	16.05
Changes in Working Capital	-38.54	-27.92	-43.51	-67.50
Cash from Operating Activities	59.22	32.05	-17.21	32.99
Capital Expenditures	-36.73	-25.79	-15.24	-48.60
Other Investing Cash Flow Items, Total	0.00	0.00	0.00	-12.64
Cash from Investing Activities	-36.73	-25.79	-15.24	-61.24
Financing Cash Flow Items	4.41	2.53	1.09	-3.44
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	1.21	-0.19	-0.59	2.09
Issuance (Retirement) of Debt, Net	-15.85	-10.64	-5.00	-18.42
Cash from Financing Activities	-10.23	-8.30	-4.50	-19.77
Foreign Exchange Effects	0.06	0.57	0.25	-0.43
Net Change in Cash	12.32	-1.46	-36.71	-48.45
Cash Interest Paid, Supplemental	-	0.52	0.24	0.98
Cash Taxes Paid, Supplemental	-	0.43	0.19	0.29

In Millions of USD (except for per share items)	12 months ending 2012-06-30	12 months ending 2011-06-30	12 months ending 2010-06-30	12 months ending 2009-06-30
Net Income/Starting Line	16.11	11.66	20.89	11.73
Depreciation/Depletion	58.03	42.93	25.76	20.84
Amortization	-	-	-	-
Deferred Taxes	10.30	10.98	11.86	9.58
Non-Cash Items	16.05	7.26	3.15	-3.96
Changes in Working Capital	-67.50	-5.63	-6.97	-47.55
Cash from Operating Activities	32.99	67.21	54.68	-9.36
Capital Expenditures	-61.24	-47.65	-24.26	-27.87
Other Investing Cash Flow Items, Total	0.00	-35.38	0.00	-0.02
Cash from Investing Activities	-61.24	-83.03	-24.26	-27.89
Financing Cash Flow Items	-4.73	3.33	7.25	12.00
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	3.38	138.98	8.59	9.82
Issuance (Retirement) of Debt, Net	-18.42	-15.17	-13.97	-6.80
Cash from Financing Activities	-19.77	127.14	1.87	15.02
Foreign Exchange Effects	-0.43	0.03	0.00	0.00
Net Change in Cash	-48.45	111.35	32.29	-22.22
Cash Interest Paid, Supplemental	0.98	1.22	1.28	1.43
Cash Taxes Paid, Supplemental	0.29	4.62	0.87	0.07