On Monday, Jan. 8, Schnitzer Steel (NASDAQ:SCHN) released first-quarter 2007 earnings for the period ended Nov. 30, 2006.
- First-quarter sales rose 49% to $509.9 million, but this was offset by the cost of goods sold surging 53% to $434.7 million.
- Net income fell nearly in half to $21.2 million, or $0.69 per share, as Q1 2006 profits were helped by a $34 million asset sale gain.
- Schnitzer Steel has a three-star rating at Motley Fool CAPS.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2006 |
Q1 2005 |
Change | |
|---|---|---|---|
|
Sales |
$510 |
$341 |
49.4% |
|
Net Profit |
$21 |
$42 |
(48.9%) |
|
EPS |
$0.69 |
$1.34 |
(48.5%) |
|
Diluted Shares |
31 |
31 |
(0.5%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q1 2006 |
Q1 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
14.75% |
16.44% |
(1.69) |
|
Operating Margin** |
6.33% |
4.63% |
1.70 |
|
Net Margin |
4.16% |
12.16% |
(8.00) |
** Operating income from wholly-owned operations
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q1 2006 |
Q1 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$25 |
$37 |
(32.6%) |
|
Accounts Rec. |
$125 |
$107 |
16.9% |
|
Inventory |
$289 |
$212 |
36.3% |
|
Liabilities |
Q1 2006 |
Q1 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$71 |
$57 |
26.1% |
|
Long-Term Debt |
$143 |
$86 |
66.0% |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q1 2006 |
Q1 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
($24) |
$31 |
N/A |
|
Capital Expenditures |
$24 |
$16 |
50.6% |
|
Free Cash Flow |
($48) |
$16 |
N/A |
Find out why Fools always follow the money.
Related Companies:
- Nucor (NYSE:NUE)
- Commercial Metals (NYSE:CMC)
- Metal Management (NYSE:MM)
Related Foolishness:
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At the time of publication, Rich Duprey had no positions in any of the stocks mentioned here. Fool rules are here.
