Isle of Capri Casinos (Isle of Capri Casinos) Operating Income : $123 Mil (TTM As of Jan. 2017)

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What is Isle of Capri Casinos Operating Income?

Isle of Capri Casinos's Operating Income for the three months ended in Jan. 2017 was $24 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2017 was $123 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Isle of Capri Casinos's Operating Income for the three months ended in Jan. 2017 was $24 Mil. Isle of Capri Casinos's Revenue for the three months ended in Jan. 2017 was $194 Mil. Therefore, Isle of Capri Casinos's Operating Margin % for the quarter that ended in Jan. 2017 was 12.50%.

Isle of Capri Casinos's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Isle of Capri Casinos's annualized ROC % for the quarter that ended in Jan. 2017 was 7.60%. Isle of Capri Casinos's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2017 was 11.43%.

Isle of Capri Casinos Operating Income Historical Data

The historical data trend for Isle of Capri Casinos's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Isle of Capri Casinos Operating Income Chart

Isle of Capri Casinos Annual Data

Trend

Apr07

Apr08

Apr09

Apr10

Apr11

Apr12

Apr13

Apr14

Apr15

Apr16

Operating Income

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76.12

42.46

-54.70

105.92

123.15

Isle of Capri Casinos Quarterly Data
	Apr12	Jul12	Oct12	Jan13	Apr13	Jul13	Oct13	Jan14	Apr14	Jul14	Oct14	Jan15	Apr15	Jul15	Oct15	Jan16	Apr16	Jul16	Oct16	Jan17
Operating Income	Get a 7-Day Free Trial															23.12	49.74	27.88	21.33	24.22

Isle of Capri Casinos Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jan. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $123 Mil.

Isle of Capri Casinos (NAS:ISLE) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Isle of Capri Casinos's annualized ROC % for the quarter that ended in Jan. 2017 is calculated as:

	ROC % (Q: Jan. 2017 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Oct. 2016 )	+	Invested Capital (Q: Jan. 2017 ))	/ count )
=	96.888 * ( 1 - 20.82% )	/	( (1006.758	+	1012.139)	/ 2 )
=	76.7159184	/	1009.4485
=	7.60 %

where

	Invested Capital		(Q: Oct. 2016 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1208.356	-	128.648	-	( 72.95	-	max(0, 159.078	-	263.008	+	72.95	))
=	1006.758

	Invested Capital		(Q: Jan. 2017 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1202.43	-	118.772	-	( 71.519	-	max(0, 147.573	-	263.553	+	71.519	))
=	1012.139

Note: The Operating Income data used here is four times the quarterly (Jan. 2017) data.

2. Joel Greenblatt's definition of Return on Capital:

Isle of Capri Casinos's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2017 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jan. 2017 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Oct. 2016		Q: Jan. 2017
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	97.188	/	( ( (815.532 + max(31.063, 0))	+	(810.083 + max(44.546, 0)) )	/	2 )
=	97.188	/	( ( 846.595	+	854.629 )	/	2 )
=	97.188	/	850.612
=	11.43 %

where Working Capital is:

	Working Capital		(Q: Oct. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(9.677	+	5.631	+	174.75)	-	(128.648	+	22	+	8.347)
=	31.063

	Working Capital		(Q: Jan. 2017 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(9.937	+	5.641	+	176.456)	-	(118.772	+	22	+	6.716)
=	44.546

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jan. 2017) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Isle of Capri Casinos's Operating Margin % for the quarter that ended in Jan. 2017 is calculated as:

Operating Margin %	=	Operating Income (Q: Jan. 2017 )	/	Revenue (Q: Jan. 2017 )
	=	24.222	/	193.817
	=	12.50 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Isle of Capri Casinos Operating Income Related Terms

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Isle of Capri Casinos (Isle of Capri Casinos) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Isle of Capri Casinos Inc (NAS:ISLE) » Definitions » Operating Income

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Address

Website

http://www.isleofcapricasinos.com

Isle of Capri operates 13 casinos in the United States, in cities ranging from Lula, Miss., to Kansas City, Mo., three casinos in the United Kingdom, and one in the Bahamas. The firm's casinos are regionally or locally focused, aiming to offer a fun entertainment alternative. Founded in 1990 and based in St. Louis, the company employs about 8,500 people.

Executives

Quatmann Edmund L Jr	officer: Chief Legal Officer	600 EMERSON ROAD, SUITE 300, ST. LOUIS MO 63141
Gregory J. Kozicz	director	8800 PAGE AVENUE, ST.LOUIS MO 63114
Bonnie Biumi	director	RETAIL PROPERTIES OF AMERICA, INC., 2021 SPRING ROAD, SUITE 200, OAK BROOK IL 60523
Lee S Wielansky	director	PAUL HASTINGS, 75 EAST 55TH STREET, NEW YORK NY 10022
Eric L Hausler	officer: Chief Executive Officer	C/O TRUMP ENTERTAINMENT RESORTS, 1000 BOARDWALK, ATLANTIC CITY NJ 08401
Scott E Schubert	director	C/O SONUS NETWORKS, INC., 4 TECHNOLOGY PARK DRIVE, WESTFORD MA 01886
James Perry	officer: Executive Chairman