On April 26, Marinemax (NYSE:HZO), with one of the most clever ticker symbols out there, released second-quarter earnings for the period ended March 31.

  • Net revenue increased 13.5%, including a 2% rise in same-store sales.
  • The company expects fully diluted EPS for fiscal 2007 to range from $0.45 to $0.65.
  • Guidance for 2007 predicts flat-to-low single-digit growth in same store-sales, excluding any business interruption insurance for claims associated with Hurricane Wilma in 2006.

 (Figures millions, except per-share data.)

Income Statement Highlights

Q2 2007

Q2 2006

Change

Sales

$326.1

$287.4

13.5%

Net Profit

$3.3

$8.6

(61.2%)

EPS

$0.17

$0.46

(63%)

Diluted Shares

19.0

18.8

1.5%

Get back to basics with the income statement.

Margin Checkup

Q2 2007

Q2 2006

Change*

Gross Margin

22.5%

23.9%

(1.4)

Operating Margin

4%

6.4%

(2.4)

Net Margin

1%

3%

(2.0)

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q2 2007

Q2 2006

Change

Cash + ST Invest.

$23.5

$14.9

57.2%

Accounts Rec.

$65.3

$59.4

9.9%

Inventory

$548.0

$514.5

6.5%

Liabilities

Q2 2007

Q2 2006

Change

Accounts Payable

$21.9

$27.6

(20.5%)

Long-Term Debt

$30.3

$23.7

28%

The balance sheet reflects the company's health.

Cash Flow Highlights

The cash flow statement must be stowed away with the life preservers. Management will dig it out in time to file with the SEC.

Free cash flow is a Fool's best friend.

Related Foolishness:

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