CorVel Announces Second Quarter Revenues and Earnings
CorVel Corporation |
Quarterly Results – Income Statement Quarters and Six Months Ended September 30, 2021 (unaudited) and September 30, 2020 (unaudited) |
Quarter Ended | September 30, 2021 | September 30, 2020 | |
Revenues | 157,743,000 | 136,028,000 | |
Cost of revenues | 121,082,000 | 105,525,000 | |
Gross profit | 36,661,000 | 30,503,000 | |
General and administrative | 16,658,000 | 15,560,000 | |
Income from operations | 20,003,000 | 14,943,000 | |
Income tax provision | 3,931,000 | 3,078,000 | |
Net income | 16,072,000 | 11,865,000 | |
Earnings Per Share: | |||
Basic | $0.90 | $0.66 | |
Diluted | $0.88 | $0.65 | |
Weighted Shares | |||
Basic | 17,841,000 | 17,937,000 | |
Diluted | 18,232,000 | 18,174,000 |
Six Months Ended | September 30, 2021 | September 30, 2020 |
Revenues | 310,363,000 | 265,628,000 |
Cost of revenues | 236,489,000 | 208,616,000 |
Gross profit | 73,874,000 | 57,012,000 |
General and administrative | 33,303,000 | 31,145,000 |
Income from operations | 40,571,000 | 25,867,000 |
Income tax provision | 7,656,000 | 5,700,000 |
Net income | 32,915,000 | 20,167,000 |
Earnings Per Share: | ||
Basic | $1.84 | $1.12 |
Diluted | $1.81 | $1.11 |
Weighted Shares | ||
Basic | 17,869,000 | 17,960,000 |
Diluted | 18,226,000 | 18,144,000 |
CORVEL CORPORATION |
Quarterly Results – Condensed Balance Sheet September 30, 2021 (unaudited) and March 31, 2021 (audited) |
September 30, 2021 | March 31, 2021 | |
Cash | 131,075,000 | 139,716,000 |
Customer deposits | 61,061,000 | 56,497,000 |
Accounts receivable, net | 69,438,000 | 64,722,000 |
Prepaid taxes and expenses | 10,472,000 | 8,006,000 |
Property, net | 70,053,000 | 70,619,000 |
Goodwill and other assets | 40,625,000 | 39,876,000 |
Right-of-use, net | 42,177,000 | 45,324,000 |
Total | 424,901,000 | 424,760,000 |
Accounts and taxes payable | 13,459,000 | 13,574,000 |
Accrued liabilities | 149,189,000 | 148,886,000 |
Long-term lease liabilities | 38,458,000 | 41,898,000 |
Paid-in capital | 196,177,000 | 185,944,000 |
Treasury stock | (604,190,000) | (564,435,000) |
Retained earnings | 631,808,000 | 598,893,000 |
Total | 424,901,000 | 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
Ready to get started?
Our team is ready to answer any questions and help you find the right solutions.