On April 24, Elan
- Revenue grew by a whopping 31%, reflecting strong performance from Tysabri. Roughly 12,500 patients have entered the TOUCH registration program, with 9,100 patients on therapy.
- Elan's balance sheet is more leveraged than we'd like for a company in this situation.
- Tysabri uptake over the coming quarters, and results from the company's Alzheimer's program later this quarter, are potential catalysts. It's conducting the Alzheimer's work in collaboration with Wyeth
(NYSE:WYE) . - For another Fool's Take on Elan's earnings release, see Where is Elan Going?
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$176.0 |
$134.3 |
31% |
|
Net Profit |
($93.0) |
($33.3) |
N/A |
|
EPS |
($0.20) |
($0.08) |
N/A |
|
Diluted Shares |
466.8 |
428.9 |
8.8% |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
58.5% |
63.6% |
(5.1) |
|
Operating Margin |
(26.9%) |
(5.1%) |
(21.7) |
|
Net Margin |
(52.8%) |
(24.8%) |
(28.0) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$917.6 |
$1,090.2 |
(15.8%) |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$251.8 |
$233.3 |
7.9% |
|
Long-Term Debt |
$1,765.0 |
$2,017.2 |
(12.5%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$8.4 |
($6.8) |
N/A |
|
Capital Expenditures |
$7.5 |
$7.4 |
1.4% |
|
Free Cash Flow |
$0.9 |
($14.2) |
N/A |
Free cash flow is a Fool's best friend.
Related Foolishness:
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.
