On June 26, Stride Rite
- Payless Shoesource (NYSE: PSS) recently purchased Stride Rite for $20.50 per share. The combined company plans to operate under the name Collective Branding.
- The 7.8% increase in sales was driven primarily through double-digit increases for both the Sperry Top-Sider brands and their international segments.
- Charges relating to the Payless buyout and its own integration with Robeez shoe brand diluted the bottom line.
- Earnings dropped 16% compared to the previous year as the tax rate was hiked from 19.3% to 34.7% this quarter. The lower tax rate in 2006 was attributable to a tax audit that reversed certain prior period reserves.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$209.2 |
$194.0 |
7.8% |
|
Net Profit |
$14.2 |
$16.9 |
(16.1%) |
|
EPS |
$0.38 |
$0.45 |
(15.6%) |
|
Diluted Shares |
37.6 |
37.6 |
(0.1%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
43.4% |
42.4% |
0.9 |
|
Operating Margin |
10.8% |
11.3% |
(0.5) |
|
Net Margin |
6.8% |
8.7% |
(1.9) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$21.3 |
$23.3 |
(8.6%) |
|
Accounts Rec. |
$110.0 |
$96.1 |
14.4% |
|
Inventory |
$125.5 |
$123.1 |
1.9% |
|
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Long-Term Debt |
$54.2 |
$68.0 |
(20.3%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
No data available
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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. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
