On Tuesday, Aug. 15, Photronics
- While all margins came down from last year, the drop gets steeper as we walk down the income statement toward the bottom line. That's often a sign of issues with cost control.
- The lower cash on hand is partly due to a $65.5 million investment in a joint venture with Micron Technology
(NYSE:MU) this quarter. - In all the doom and gloom, it's encouraging to see free cash flow turning positive.
(Figures in millions, except per-share data)
Income Statement Highlights
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
---|---|---|---|---|
Sales |
$108 |
$108 |
$115 |
(5.8%) |
Net Profit |
-- |
$5 |
$15 |
(68.9%) |
EPS |
$0.12 |
$0.11 |
$0.35 |
(68.6%) |
Diluted Shares |
42 |
45 |
(7.9%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q3 2006 |
Q3 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
30.41% |
34.46% |
(4.05) |
Operating Margin |
8.13% |
15.58% |
(7.45) |
Net Margin |
4.25% |
12.88% |
(8.63) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$164 |
$316 |
(48.1%) |
Accounts Rec. |
$80 |
$111 |
(27.3%) |
Inventory |
$23 |
$17 |
36.9% |
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Accounts Payable |
$47 |
$80 |
(41.7%) |
Long-Term Debt |
$252 |
$262 |
(4%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
Q3 2006 |
Q3 2005 |
Change |
|
---|---|---|---|
Cash From Ops. |
$30 |
$46 |
(36%) |
Capital Expenditures |
$27 |
$57 |
(53.1%) |
Free Cash Flow |
$3 |
($11) |
N/A |
Find out why Fools always follow the money.
Related Companies:
- Micron
-
Entegris
(NASDAQ:ENTG) -
Taiwan
Semiconductor
(NYSE:TSM) -
NEC
(NASDAQ:NIPNY) -
Rockwood Holdings
(NYSE:ROC) -
IBM
(NYSE:IBM)
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.
Get all the inside information you need in our collection of investing newsletters . From wallflowerish small caps to swashbuckling Rule Breakers, we've got something for every investor. Get in on the action today; all of our newsletters offer a 30-day risk-free trial. All you have to lose is the prospect of better returns.
At the time of publication, Anders Bylund had no position in any of the companies mentioned. Fool rules are here .