After the market closed Dec. 7, lift-truck equipment manufacturer Cascade (NYSE:CAE) released third-quarter 2006 earnings for the period ended Oct. 31. Here are the quick-and-dirty details for the quarter.

  • Sales grew 9.1%. 7% of the growth was attributed to higher business activity, while 2% came from foreign currency benefits. By region, China led the way with 30% growth, followed by Europe, which grew 19%, and the U.S., up 10%.

  • Diluted earnings grew 11.9% to $0.94. Regionally, only Europe posted negative operating income.

  • On Jan. 19, 2007, Cascade will pay a $0.16-per-share dividend to shareholders on record as of Jan. 3.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q3 2006

Q3 2005

Change

Sales

$119,000

$122,809

$112,599

9.1%

Net Profit

--

$12,283

$10,828

13.4%

EPS

$0.89

$0.94

$0.84

11.9%

Diluted Shares

--

13,050

12,966

0.6%

*Three months ended Oct. 31, 2006 and 2005

Get back to basics with a look at the income statement.

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

32.13%

32.70%

(0.57)

Operating Margin

15.64%

15.24%

0.40

Net Margin

10.00%

9.62%

0.38

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q3 2006

Q3 2005

Change

Cash + ST Invest.

$64,062

$59,468

7.7%

Accounts Rec.

$80,979

$71,002

14.1%

Inventory

$54,791

$52,157

5.1%


Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

$24,100

$21,288

13.2%

Long-Term Debt

$12,500

$25,085

(50.2%)



Learn the ways of the balance sheet.

Cash Flow Highlights

Q3 2006

Q3 2005

Change

Cash From Ops.

$35,513

$38,770

($3,257)

Capital Expenditures

$10,221

$7,178

$3,043

Free Cash Flow

$25,292

$31,592

($6,300)
*Nine months ended Oct. 31.

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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. The Fool has an ironclad disclosure policy. Feel free to email him with feedback or to discuss any companies mentioned further.