On April 21, Insteel Industries (NASDAQ:IIIN) released Q2 2006 earnings for the period ended April 1, 2006.
- Revenue was up, but it still missed estimates.
- Profits were record-breaking, but they still came in less than hoped for.
- Despite increase capital expenditures for expansion purposes, free cash flow (operating cash flow less capital expenditures) rose significantly year over year.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q2 2006 |
Q2 2005 |
Change | |
|---|---|---|---|---|
|
Sales |
$92,450 |
$88,979 |
$81,654 |
9% |
|
Net Profit |
-- |
$7,401 |
$5,044 |
46.7% |
|
EPS |
$0.98 |
$0.80 |
$0.53 |
50.9% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q2 2006 |
Q2 2005 |
Change | |
|---|---|---|---|
|
Gross Margin |
18.33% |
14.35% |
3.99 |
|
Op. Margin |
13.31% |
9.54% |
5.11 |
|
Net Margin |
8.32% |
6.18% |
2.14 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Cash+ ST Invest. |
-- |
$1,366 |
(100)% |
|
Inventory |
$46,961 |
$53,879 |
(12.8)% |
|
Accounts Rec. |
$40,890 |
$38,068 |
(7.4)% |
|
Liabilities |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Long-Term Debt |
$3,800 |
$41,867 |
(90.9)% |
|
Accounts Pay. |
$37,347 |
$18,684 |
99.9% |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q2 2006 |
Q2 2005 |
% Change | |
|---|---|---|---|
|
Cash From Ops |
$24,592 |
$8,273 |
197.3% |
|
Capital Expend. |
$8,092 |
$2,405 |
236.5% |
|
Free Cash Flow |
$16,500 |
$5,868 |
181.2% |
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Related Companies:
- Gerdau Ameristeel (NYSE:GNA)
- Nucor (NYSE:NUE)
Related Foolishness:
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, Jim Mueller owned shares of Insteel Industries. Fool rules are here.
