On June 7, National Semiconductor
- Sales and earnings were down significantly from last year's fourth quarter, but up from Q3 levels. It was all good to investors' ears, however, with the stock up 14% in afternoon trading.
- A new $2 billion share repurchase program is also heartening investors. This brings the total approved for repurchase to about $2.4 billion.
- In Motley Fool CAPS, the stock currently carries a middling three-star rating.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q4 2007 |
Q4 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$455.9 |
$572.6 |
(20.4%) |
|
Net Profit |
$90.1 |
$118.8 |
(24.2%) |
|
EPS |
$0.28 |
$0.34 |
(17.6%) |
|
Diluted Shares |
327.5 |
352.3 |
(7.0%) |
Get back to basics with the income statement.
Margin Checkup
|
Q4 2007 |
Q4 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
62.5% |
61.4% |
1.1 |
|
Operating Margin |
25.0% |
34.1% |
(9.0) |
|
Net Margin |
19.8% |
20.8% |
(1.0) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$828.6 |
$1,042.5 |
(20.5%) |
|
Accounts Rec. |
$150.6 |
$208.6 |
(27.8%) |
|
Inventory |
$176.0 |
$189.4 |
(7.1%) |
|
Liabilities |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$59.9 |
$108.8 |
(44.9%) |
|
Long-Term Debt |
$20.6 |
$21.1 |
(2.4%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
YTD 2007 |
YTD 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$616.9 |
$795.8 |
(22.5%) |
|
Capital Expenditures |
$106.6 |
$163.3 |
(34.7%) |
|
Free Cash Flow |
$510.3 |
$632.5 |
(19.3%) |
Free cash flow is a Fool's best friend.
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Want some new stock ideas? Learn more about what Motley Fool CAPS players -- now nearly 30,000 strong -- think of the company you're interested in.
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