Corning Shines: Fool by Numbers
By Motley Fool Contributors
January 25, 2007
Recommended (96)
On Jan. 24, specialized glass and tech equipment maker Corning (NYSE: GLW) released its fourth-quarter earnings for the period ended Dec. 31, 2006.
- Net sales increased by 14%, driven primarily by the display technologies segment.
- For the first quarter of 2007, management expects sales to be $1.26 billion to $1.31 billion, and earnings per share of $0.24 to $0.27 (excluding special items).
- The stock is respected enough in Motley Fool CAPS to earn a four-star rating.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q4 2006
|
Q4 2005
|
Change
|
|
Sales
|
$1,369.0
|
$1,200.0
|
14.1%
|
|
Net Profit
|
$646.0
|
($33.0)
|
N/A
|
|
EPS
|
$0.41
|
($0.02)
|
N/A
|
|
Diluted Shares
|
1,596.0
|
1,524.0
|
4.7%
|
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006
|
Q4 2005
|
Change*
|
|
Gross Margin
|
44.1%
|
43.9%
|
0.2
|
|
Operating Margin
|
24.7%
|
22.4%
|
2.3
|
|
Net Margin
|
47.2%
|
(2.8%)
|
49.9
|
*Expressed in percentage points
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets
|
Q4 2006
|
Q4 2005
|
Change
|
|
Cash + ST Invest.
|
$3,167.0
|
$2,434.0
|
30.1%
|
|
Trade Accounts Rec.
|
$746.0
|
$629.0
|
18.6%
|
|
Inventory
|
$639.0
|
$570.0
|
12.1%
|
|
Liabilities
|
Q4 2006
|
Q4 2005
|
Change
|
|
Accounts Payable
|
$631.0
|
$690.0
|
(8.6%)
|
|
Long-Term Debt
|
$1,696.0
|
$1,789.0
|
(5.2%)
|
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q4 2006
|
Q4 2005
|
Change
|
|
Cash From Ops.
|
$628.0
|
$659.0
|
(4.7%)
|
|
Capital Expenditures
|
$290.0
|
$477.0
|
(39.2%)
|
|
Free Cash Flow
|
$338.0
|
$182.0
|
85.7%
|
Find out why Fools always follow the money.
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-
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-
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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. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
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