Middleby Undercooked in Q4: Fool by Numbers

On March 8, Middleby (Nasdaq: MIDD  ) , a Motley Fool Hidden Gems pick, released Q4 and full fiscal 2005 earnings for the period ended Dec. 31, 2005.

  • Earnings appeared to miss Street estimates, but Wall Street's numbers excluded a loss attributed to the December acquisition of Alkar Holdings. Without that, Middleby met analyst expectations of $0.91 per stub.
  • That hasn't mattered to investors; they put their fingers on the sell button yesterday and the stock is down about 10% since.

(Figures in thousands, except per-share data)
Income Statement Highlights

Avg. Est.

Q4 2005

Q4 2004

% Change

Sales

$74,230

$76,930

$65,119

18.1

Net Profit

--

$7,233

($660)

N/A

EPS

$0.91

$0.88

($0.07)

N/A



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2005

Q4 2004

% Change

Gross Margin

38.37%

37.26%

1.11

Op. Margin

17.35%

1.41%

15.94

Net Margin

9.40%

(1.01%)

10.42



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2005

Q4 2004

% Change

Cash+ ST Invest.

$3,908

$3,803

2.8

Inventory

$40,989

$32,772

25.1

Accounts Rec.

$38,552

$26,612

44.9



Liabilities

Long-Term Debt

$121,595

$123,723

(1.7)

Accounts Pay.

$17,576

$11,298

55.6



Cash Flow Highlights

No cash flow statement provided. (Whatever.)

Find out why Fools always follow the money.

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For related Foolishness:

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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 checkFool.comfor more of our in-depth discussion of what the numbers mean.

Fool contributorTim Beyersdidn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Foolprofile. The Motley Fool has an ironcladdisclosure policy.


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