On March 13, retailer Dick's Sporting Goods
- Total sales grew 21%, as same-store sales improved 2%. Galyan's store results were included in the comparable calculation. This was also the first time Dick's posted quarterly sales of more than $1 billion.
- Reported diluted earnings advanced 20% and grew 28%, if you remove the effects of stock options charges in last year's quarter (companies were first required to start expensing them for 2006).
- Management is calling for 2007 earnings of $2.37-$2.40 per share, or 18% year-over-year growth. It also expects to open 45 new Dick's stores and 17 new Golf Galaxy stores. Dick's completed the acquisition of Golf Galaxy on Feb. 13.
- Dick's carries a three-star rating in the Motley Fool CAPS intelligence database, while archrival Big 5 Sporting Goods
(NASDAQ:BGFV) only has a two-star rating. Hibbett Sports(NASDAQ:HIBB) , and outdoor enthusiast Cabela's(NYSE:CAB) carry more favorable four-star ratings. Feel free to head to CAPS and tell us what you think about these companies and more.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$1,026,275 |
$849,506 |
20.8% |
|
Net Profit |
$67,718 |
$54,030 |
25.3% |
|
EPS |
$1.20 |
$1.00 |
20.0% |
|
Diluted Shares |
56,565 |
54,163 |
4.4% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
31.21% |
30.35% |
0.86 |
|
Operating Margin |
11.22% |
10.98% |
0.24 |
|
Net Margin |
6.60% |
6.36% |
0.24 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$135,942 |
$36,564 |
271.8% |
|
Accounts Rec. |
$39,687 |
$29,365 |
35.2% |
|
Inventory |
$641,464 |
$535,698 |
19.7% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$286,668 |
$253,395 |
13.1% |
|
Long-Term Debt |
$172,500 |
$172,500 |
0.0% |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
2006 |
2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$196,216 |
$169,530 |
15.7% |
|
Capital Expenditures |
$190,288 |
$112,002 |
69.9% |
|
Free Cash Flow |
$5,928 |
$57,528 |
(89.7%) |
Find out why Fools always follow the money.
Related Foolishness:
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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to further discuss any companies mentioned. The Fool has an ironclad disclosure policy.
