On May 2, water company California Water
- Strong customer demand, resulting from an unusually dry season, drove revenue up 9.7%.
- Operating income rose 6.4% year over year.
- The company, which is currently yielding 3.2%, announced its 250th consecutive quarterly dividend on April 25.
- California Water and its peer American States Water
(NYSE:AWR) both sport two-star ratings from the Motley Fool CAPS community, while Southwest Water(NASDAQ:SWWC) ranks three stars.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|
Sales |
$71,570 |
$65,216 |
9.7% |
Net Profit |
$1,581 |
$832 |
90.0% |
EPS |
$0.07 |
$0.04 |
75.0% |
Diluted Shares |
20,681 |
18,427 |
12.2% |
Get back to basics with the income statement.
Margin Checkup
Q1 2007 |
Q1 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
63.9% |
67.1% |
(3.2) |
Operating Margin |
7.3% |
7.6% |
(0.2) |
Net Margin |
2.2% |
1.3% |
0.9 |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$43,095 |
$5,061 |
751.5% |
Accounts Rec. |
$17,375 |
$13,291 |
30.7% |
Inventory |
$4,469 |
$4,284 |
4.3% |
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Accounts Payable |
$32,151 |
$28,889 |
11.3% |
Long-Term Debt |
$291,379 |
$273,768 |
6.4% |
The balance sheet reflects the company's health.
Cash Flow Highlights
Apparently, management at California Water is unaware of the Foolish take on free cash flow.
Related Foolishness:
California Water is a Motley Fool Income Investor pick. To find out what fair value James Early and his team place on CWT, along with dozens of other stocks, check out a 30-day free trial.
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