La-Z-Boy Lagging Less: Fool by Numbers
By Motley Fool Contributors
November 15, 2006
On Nov. 14, La-Z-Boy (NYSE: LZB) released second-quarter earnings for the period ended Oct. 28.
- Sales rose 1.7%, helped by both an increase in revenues from the upholstery and retail groups and the elimination of supply chain disruptions that were present in the prior year.
- Gross margins rose for the quarter because of a 2.9% increase in sales price and a 2.1% drop in costs.
- The company plans to add seven stores and convert or relocate five stores during the remainder of fiscal 2007.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q2 2007
|
Q2 2006
|
Change
|
|
Sales
|
$440.5
|
$433.4
|
1.7%
|
|
Net Profit
|
$2.0
|
($6.9)
|
N/A
|
|
EPS
|
$0.04
|
($0.13)
|
N/A
|
|
Diluted Shares
|
51.6
|
51.7
|
(0%)
|
Get back to basics with a look at the income statement.
Margin Checkup
|
Q2 2007
|
Q2 2006
|
Change*
|
|
Gross Margin
|
25.4%
|
20.6%
|
4.8
|
|
Operating Margin
|
0.9%
|
(1.8%)
|
2.8
|
|
Net Margin
|
0.4%
|
(1.6%)
|
2.0
|
*Expressed in percentage points.
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets
|
Q2 2007
|
Q2 2006
|
Change
|
|
Cash + ST Invest.
|
$20.5
|
$15.0
|
36.5%
|
|
Accounts Rec.
|
$253.5
|
$258.5
|
(1.9%)
|
|
Inventory
|
$237.9
|
$267.3
|
(11%)
|
|
|
Q2 2007
|
Q2 2006
|
Change
|
|
Accounts Payable
|
$72.3
|
$73.4
|
(1.5%)
|
|
Long-Term Debt
|
$147.8
|
$194.5
|
(24%)
|
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q2 2007
|
Q2 2006
|
Change
|
|
Cash From Ops.
|
($23.0)
|
($1.0)
|
N/A
|
|
Capital Expenditures
|
($5.8)
|
$7.6
|
N/A
|
|
Free Cash Flow
|
($17.2)
|
($8.5)
|
N/A
|
Find out why Fools always follow the money.
Related Companies:
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Furniture Brands International (NYSE: FBN)
-
Natuzzi SpA (NYSE: NTZ)
-
Stanley
Furniture (Nasdaq: STLY)
Related Foolishness:
La-Z-Boy is an
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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
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