On March 16, Hooker Furniture
- The company is changing its fiscal year ending from November to January. As a result, it reported only two months of financial performance
- Gross profit margin improved by 80 bps, primarily attributable to an increased proportion of higher-margin imported wood and upholstered furniture sales.
- The company recorded a net loss mainly because of charges related to terminating its employee stock ownership plan (ESOP) and restructuring charges.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$49,061 |
$85,339 |
N/A |
|
Net Profit |
($18,415) |
$3,560 |
N/A |
|
EPS |
($1.52) |
$0.30 |
N/A |
|
Diluted Shares |
12,113 |
11,890 |
1.9% |
Get back to basics with the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
27.8% |
26.9% |
0.9 |
|
Operating Margin** |
8.6% |
7.0% |
1.6 |
|
Net Margin |
(37.5%) |
4.2% |
(41.7) |
**Less ESOP termination and restructuring charges
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$47,085 |
$26,910 |
75.0% |
|
Accounts Rec. |
$37,744 |
$44,282 |
(14.8%) |
|
Inventory |
$62,803 |
$64,516 |
(2.7%) |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$10,071 |
$15,663 |
(35.7%) |
|
Long-Term Debt |
$7,912 |
$10,414 |
(24.0%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$16,215 |
$11,592 |
39.9% |
|
Capital Expenditures |
$419 |
$552 |
(24.1%) |
|
Free Cash Flow |
$15,796 |
$11,040 |
43.1% |
Free cash flow is a Fool's best friend.
Related Foolishness:
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