On Feb. 24, Citizens Communications (NYSE:CZN) released full-year 2005 earnings for the period ended Dec. 31.
- Revenue was just about flat compared to 2004.
- Operating margins improved more than six percentage points from last year, four percentage points of which were due to the non-repetition of last year's $91 million strategic management charge.
- Lower capital expenditures and higher cash flow from operations boosted free cash flow by 32%.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
FY 2005 |
FY 2004 |
% Change | |
|---|---|---|---|---|
|
Sales |
$2,160,000 |
$2,162,479 |
$2,168,422 |
(0.3) |
|
Net Profit |
-- |
$202,375 |
$72,150 |
180.5 |
|
EPS |
$0.50 |
$0.60 |
$0.24 |
150 |
Get back to basics with a look at the income statement.
Margin Checkup
|
FY 2005 |
FY 2004 |
% Change | |
|---|---|---|---|
|
Gross Margin |
90.96% |
90.83% |
0.13 |
|
Op. Margin |
28.06% |
21.96% |
6.11 |
|
Net Margin |
9.36% |
3.33% |
6.03 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
FY 2005 |
FY 2004 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$265,775 |
$163,759 |
62.3 |
|
Inventory |
- |
- |
N/A |
|
Accounts Rec.* |
$276,320 |
$282,999 |
(2.4) |
|
Liabilities |
FY 2005 |
FY 2004 |
% Change |
|---|---|---|---|
|
Long-Term Debt |
$3,999,376 |
$4,266,998 |
(6.3) |
|
Accounts Pay.* |
$388,908 |
$410,405 |
(5.2) |
Inventories at work.
Cash Flow Highlights
|
FY 2005 |
FY 2004 |
% Change | |
|---|---|---|---|
|
Cash From Ops |
$844,217 |
$711,437 |
18.7 |
|
Capital Expend. |
$268,459 |
$275,204 |
(2.5) |
|
Free Cash Flow |
$575,758 |
$436,233 |
32 |
Related Companies:
- AT&T (NYSE:T)
- BellSouth (NYSE:BLS)
- France Telecom (NYSE:FTE)
- Qwest Communications (NYSE:Q)
- Verizon (NYSE:VZ)
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 check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Fool analyst Andy Cross owned shares in Citizens Communications and AT&T. Fool rules are here.
