On Aug. 30, optical-networking specialist JDS Uniphase
- If you back out its acquisition of network-testing specialist Acterna from last fall, including the extra sales, general, and administrative costs of supporting a larger staff, revenues would become flat or marginally worse compared with fiscal 2005. The bottom line would improve considerably, though.
- The high-margin sales that Acterna brought in gave margins a real shot in the arm on top of internal operational efficiency improvements. We might see an honest-to-goodness GAAP-profitable quarter out of JDSU before too long.
- Does management have other large purchases in mind? The last one turned out to be a good deal, and the company has taken on additional debt despite a balance sheet that already looked healthy.
(Figures in millions, except per-share data)
Income Statement Highlights
Avg. Est. |
FY 2006 |
FY 2005 |
Change |
|
---|---|---|---|---|
Sales |
$1,200 |
$1,204 |
$712 |
69.1% |
Net Profit |
-- |
($151) |
($261) |
57.9% |
EPS |
($0.01) |
($0.09) |
($0.18) |
50% |
Diluted Shares |
1,650 |
1,445 |
14.1% |
Get back to basics with a look at the income statement.
Balance Sheet Highlights
FY 2006 |
FY 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
31.30% |
17.64% |
13.66 |
Operating Margin |
(20.59%) |
(35.07%) |
14.48 |
Net Margin |
(12.56%) |
(36.69%) |
24.13 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets | FY 2006 | FY 2005 | Change |
---|---|---|---|
Cash + ST Invest. | $1,239 | $1,305 | (5.1%) |
Accounts Rec. | $232 | $102 | 127.1% |
Inventory | $202 | $97 | 107.6% |
Liabilities | FY 2006 | FY 2005 | Change |
---|---|---|---|
Accounts Payable | $127 | $75 | 68.6% |
Long-Term Debt | $900 | $475 | 89.3% |
Learn the ways of the balance sheet.
Cash Flow Highlights
Alas, poor cash flow statement! I knew it, Horatio: A table of infinite jest, of most excellent utility.
Find out why Fools always follow the money.
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At the time of publication,Anders Bylundhad positions in none of these companies. Fool rules arehere.