On Feb. 23, Morningstar
- Revenue increased 25% because of increased sales in each business segment.
- Operating margins showed substantial growth because of significant stock compensation expenses in 2004.
- EPS of $0.22 exceeded analyst expectations of $0.20.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q4 2005 |
Q4 2004 |
% Change |
|
|---|---|---|---|---|
|
Sales |
$59,880 |
$60,740 |
$48,714 |
24.7 |
|
Net Profit |
-- |
$10,093 |
($1,139) |
N/A |
|
EPS |
$0.20 |
$0.22 |
($0.03) |
N/A |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2005 |
Q4 2004 |
%Change |
|
|---|---|---|---|
|
Gross Margin |
72.73% |
71.92% |
0.81 |
|
Op. Margin |
23.23% |
2.19% |
21.04 |
|
Net Margin |
16.62% |
(2.34%) |
18.95 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2005 |
Q4 2004 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$153,190 |
$95,463 |
60.5 |
|
Inventory |
-- |
-- |
N/A |
|
Accounts Rec. |
$47,530 |
$33,668 |
41.2 |
|
Liabilities |
Q4 2005 |
Q4 2004 |
% Change |
|---|---|---|---|
|
Long-Term Debt |
-- |
-- |
N/A |
|
Accounts Pay. |
$13,664 |
$12,085 |
13.1 |
Inventories at work.
Cash Flow Highlights
|
Q4 2005 |
Q4 2004 |
% Change |
|
|---|---|---|---|
|
Cash From Ops |
$18,560 |
$13,777 |
34.7 |
|
Capital Expend. |
$3,826 |
$1,972 |
94 |
|
Free Cash Flow |
$14,734 |
$11,805 |
24.8 |
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Related Foolishness:
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At the time of publication, Fool analyst Andy Cross did not own shares in any company mentioned. Fool rules are here.
