On Jan. 24, EMC
- Per-share earnings of $0.47 included more than $260 million in special charges relating to tax matters and workforce changes. Without them, EMC booked $0.53 per stub in 2005, equal to Street expectations.
- The company made good on its promise to boost margins during the year. Find out why this is important.
- Options expensing dragged down earnings by $0.13 during 2005, and management says it should continue at that rate in 2006.
- Executives say 2006 should be another good year. Revenue and diluted earnings per share are both expected to rise by roughly 15%.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
FY 2005 |
FY 2004 |
% Change |
|
|---|---|---|---|---|
|
Sales |
$9,640,000 |
$9,663,955 |
$8,229,488 |
+17.4% |
|
Net Profit |
-- |
$1,133,165 |
$871,189 |
+30.1% |
|
EPS |
$0.53 |
$0.47 |
$0.36 |
+30.6% |
Get back to basics with a look at the income statement.
Margin Checkup
|
FY 2005 |
FY 2004 |
Change |
|
|---|---|---|---|
|
Gross Margin |
53.73% |
51.21% |
+2.52% |
|
Op. Margin |
15.32% |
12.69% |
+2.63% |
|
Net Margin |
11.73% |
10.59% |
+1.14% |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
FY 2005 |
FY 2004 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$3,937,865 |
$2,713,529 |
+45.1% |
|
Inventory |
$724,751 |
$514,065 |
+41.0% |
|
Accounts Rec. |
$1,405,564 |
$1,162,387 |
+20.9% |
|
Liabilities |
|||
|---|---|---|---|
|
Long-Term Debt |
$126,963 |
$128,456 |
-1.2% |
|
Accounts Pay. |
$583,756 |
$522,770 |
+11.7% |
Cash Flow Highlights
|
FY 2005 |
FY 2004 |
% Change |
|
|---|---|---|---|
|
Cash From Ops |
$2,216,296 |
$2,102,295 |
+5.4% |
|
Capital Expend.* |
$1,284,808 |
$961.859 |
+33.6% |
|
Free Cash Flow |
$931,488 |
$1,140,436 |
-18.3% |
Find out why Fools always follow the money.
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For related Foolishness:
- Was our Foolish Forecast far off? Not likely.
- Get last quarter's numbers, too.
- Keep it slow and steady, EMC.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
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Fool contributor Tim Beyers didn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Fool profile . The Motley Fool has an ironclad disclosure policy .
