On Feb. 13, La-Z-Boy
- Sales decreased by 9.6%. Upholstery sales fell 11.8%, casegoods sales declined 14.6%, and retail sales increased 6.4%.
- Gross profit margin increased by 2.2%, thanks to better merchandising and selling plans, and cost reduction.
- For Q4 2007, management expects sales to decline 8%-10% compared to last year's quarter. EPS should be in the range of $0.03-$0.07.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$403.9 |
$446.6 |
(9.6%) |
|
Net Profit* |
$6.9 |
$10.0 |
(30.4%) |
|
EPS |
$0.13 |
$0.19 |
(31.6%) |
|
Diluted Shares |
51.6 |
51.9 |
(0.5%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2007 |
Q3 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
27.9% |
25.7% |
2.2 |
|
Operating Margin |
2.3% |
4.0% |
(1.7) |
|
Net Margin** |
1.7% |
2.2% |
(0.5) |
**Continuing operations
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$17.5 |
$20.5 |
(14.7%) |
|
Accounts Rec. |
$217.1 |
$274.0 |
(20.8%) |
|
Inventory |
$214.2 |
$246.5 |
(13.1%) |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$60.2 |
$77.5 |
(22.3%) |
|
Long-Term Debt |
$147.1 |
$194.0 |
(24.2%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$28.9 |
$33.1 |
(12.5%) |
|
Capital Expenditures |
$6.0 |
$6.2 |
(3.4%) |
|
Free Cash Flow |
$22.9 |
$26.9 |
(14.6%) |
Find out why Fools always follow the money.
Related Companies:
-
Stanley Furniture
(NASDAQ:STLY) -
Hooker Furniture
(NASDAQ:HOFT) -
Furniture Brands International
(NYSE:FBN) -
Select Comfort Corporation
(NASDAQ:SCSS) -
Bassett Furniture Industries
(NASDAQ:BSET)
Related Foolishness:
La-Z-Boy is a Motley Fool Income Investor recommendation. For more on great stocks that pay sweet dividends and outperform the market, click here for you free 30-day trial.
Stanley Furniture, Select Comfort, and Hooker Furniture are Hidden Gems recommendations.
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. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
