CorVel Announces Fiscal Year Revenues and Earnings
CorVel Corporation |
Quarterly and Fiscal Results – Income Statement Quarters and Fiscal Year Ended March 31, 2022 and March 31, 2021 |
Quarter Ended | March 31, 2022 | March 31, 2021 | |
Revenues | 171,359,000 | 145,510,000 | |
Cost of revenues | 128,307,000 | 109,791,000 | |
Gross profit | 43,052,000 | 35,719,000 | |
General and administrative | 16,793,000 | 16,366,000 | |
Income from operations | 26,259,000 | 19,353,000 | |
Income tax provision | 6,622,000 | 4,544,000 | |
Net income | 19,637,000 | 14,809,000 | |
Earnings Per Share: | |||
Basic | $1.11 | $0.83 | |
Diluted | $1.09 | $0.81 | |
Weighted Shares | |||
Basic | 17,618,000 | 17,902,000 | |
Diluted | 17,976,000 | 18,196,000 |
Fiscal Year Ended | March 31, 2021 | March 31, 2020 |
Revenues | 646,230,000 | 552,644,000 |
Cost of revenues | 494,116,000 | 429,020,000 |
Gross profit | 152,114,000 | 123,624,000 |
General and administrative | 67,602,000 | 64,449,000 |
Income from operations | 84,512,000 | 59,175,000 |
Income tax provision | 18,102,000 | 12,819,000 |
Net income | 66,410,000 | 46,356,000 |
Earnings Per Share: | ||
Basic | $3.74 | $2.59 |
Diluted | $3.66 | $2.55 |
Weighted Shares | ||
Basic | 17,753,000 | 17,930,000 |
Diluted | 18,127,000 | 18,166,000 |
CORVEL CORPORATION |
Quarterly Results – Condensed Balance Sheet
|
March 31, 2022 | March 31, 2021 | |
Cash | 97,504,000 | 139,716,000 |
Customer deposits | 69,781,000 | 56,497,000 |
Accounts receivable, net | 82,586,000 | 64,722,000 |
Prepaid taxes and expenses | 15,123,000 | 8,006,000 |
Property, net | 76,268,000 | 70,619,000 |
Goodwill and other assets | 38,964,000 | 39,876,000 |
Right-of-use asset, net | 35,020,000 | 45,324,000 |
Total | 415,246,000 | 424,760,000 |
Accounts and taxes payable | 14,431,000 | 13,574,000 |
Accrued liabilities | 156,939,000 | 148,886,000 |
Deferred tax liability | 1,689,000 | — |
Long-term operating lease liabilities | 29,792,000 | 41,898,000 |
Paid-in capital | 201,612,000 | 185,944,000 |
Treasury stock | (654,520,000 | (564,435,000) |
Retained earnings | 665,303,000 | 598,893,000 |
Total | 415,246,000 | 424,760,000 |
CorVel Corporation is publicly traded on the NASDAQ National Market System under the stock symbol CRVL. The CorVel Corporation Annual Report on Form 10-K filed with the Securities and Exchange Commission may be obtained by clicking here or by contacting:
CorVel Corporation
5128 Apache Plume Road Suite 400
Fort Worth, TX 76109
888-7-CORVEL
investor_relations@corvel.com
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