On Aug. 22, La-Z-Boy
- Sales growth went missing.
- But profits were found.
- More importantly, La-Z-Boy generated strong free cash flow, helped in part by selling down inventories, reducing receivables, and generally reinforcing the trend noted by fellow Fool Nathan Parmelee two months ago.
(Figures in millions, except per-share data)
Income Statement Highlights (What's this?)
|
Avg. Est. |
Q1 2006 |
Q1 2005 |
% Change |
|
|---|---|---|---|---|
|
Sales |
$454 |
$451.5 |
$455.1 |
-0.8% |
|
Net Profit |
$ - |
$3.2 |
($3.5) |
N/A |
|
EPS |
$0.05 |
$0.06 |
$(0.07) |
N/A |
Margin Checkup (What's this?)
|
Q1 2006 |
Q1 2005 |
Change |
|
|---|---|---|---|
|
Gross Margin |
23.6% |
20.4% |
3.2% |
|
Op. Margin |
1.7% |
(0.9%) |
2.6% |
|
Net Margin |
0.7% |
(0.8%) |
1.5% |
Balance Sheet Highlights (What's this?)
|
Assets |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$19.0 |
$29.0 |
-34.5% |
|
Inventory |
$264.7 |
$275.8 |
-4% |
|
Accounts Rec. |
$248.7 |
$250.1 |
-0.6% |
|
Liabilities |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Long-Term Debt |
$194.7 |
$232.8 |
-16.4% |
|
Accounts Pay. |
$69.3 |
$85.2 |
-18.7% |
Cash Flow Highlights (What's this?)
|
Q1 2006 |
Q1 2005 |
% Change |
|
|---|---|---|---|
|
Cash From Ops |
$19.8 |
$(4.9) |
N/A |
|
Capital Expend. |
$6.7 |
$9.5 |
-29.1% |
|
Free Cash Flow |
$13.1 |
$(14.4) |
N/A |
Related Companies:
-
Bassett Furniture
(NASDAQ:BSET) -
Bombay
(NYSE:BBA) -
Ethan Allen
(NYSE:ETH) -
Furniture Brands
(NYSE:FBN) -
Herman Miller
(NASDAQ:MLHR) -
Stanley Furniture
(NASDAQ:STLY)
Related Foolishness:
- What amazing excuse did La-Z-Boy give this quarter?
- Nathan Parmelee foreshadowed this quarter's robust free cash flow two months ago.
- Read why it's particularly reassuring to see a furniture maker make inroads in selling off its inventory.
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.
La-Z-Boy is a Motley Fool Income Investor pick. Stanley Furniture is a Motley Fool Hidden Gems pick.
At the time of publication, Fool contributor Rich Smith had positions in no company mentioned. Fool rules are here.
