Jo-Ann's Mixed Results: Fool by Numbers (JAS.DL)

Jo-Ann's Mixed Results: Fool by Numbers

On May 30, Jo-Ann Stores (NYSE: JAS ) released earnings for the first quarter ended May 5.

Earnings improved, but were still negative, as the fabrics and crafts retailer lost $1.7 million.
Total sales fell 0.1%, but same-store sales were up 1.8%, thanks to an easy comparison. And those sales were more productive, as the gross and operating margins improved.
The company expects to earn $0.55 to $0.65 per share for the year -- right around the estimates of $0.60 per share.
Jo-Ann Stores is a one-star stock (out of a possible five) in Motley Fool CAPS.

(Figures in millions, except per-share data.)

Income Statement Highlights

	Q1 2008	Q1 2007	Change
Sales	$424.2	$424.7	(0.1%)
Net Profit	($1.7)	($6.6)	N/A
EPS	($0.07)	($0.28)	N/A
Diluted Shares	24.0	23.3	3.1%

Get back to basics with the income statement.

Margin Checkup

Q1 2008	Q1 2007	Change*
47.3%	46.6%	0.7
0.0%	(2.1%)	2.1
(0.4%)	(1.6%)	N/A

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets	Q1 2008	Q1 2007	Change
Cash + ST Invest.	$19.9	$26.1	(23.8%)
Inventory	$434.9	$463.0	(6.1%)

Liabilities	Q1 2008	Q1 2007	Change
Accounts Payable	$134.5	$131.7	2.1%
Long-Term Debt	$117.8	$190.0	(38.0%)

The balance sheet reflects the company's health.

Cash Flow Highlights

Looks like somebody forgot to stitch together a cash flow statement for the release.

Free cash flow is a Fool's best friend.

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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.

At the time of publication, Fool contributor Mike Cianciolo held no position in Jo-Ann Stores.

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