On June 8, Luby's (NYSE:LUB) released fiscal Q3 2006 earnings for the period ended May 10.

  • Same-store sales increased 4% for the quarter, the 10h consecutive quarter of increases.
  • Without a one-time income tax benefit, net income was $4.4 million or $0.16 per diluted share, right on the estimates.
  • Year over year, food costs increased 0.1 points, labor costs dropped 0.9 points, and other operating costs (electricity and restaurant supply, repair, and maintenance) increased 1.1 points.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q3 2006

Q3 2005

Change

Sales

$77,954

$77,954

$75,371

3.4%

Net Profit

--

$6,901

$3,704

86.3%

EPS

$0.25

$0.25

$0.15

66.7%

Diluted Shares

27,565

26,671

3.4%



Get back to basics with a look at the income statement.

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

73.53%

73.63%

(0.10)

Operating Margin

5.49%

8.68%

(3.19)

Net Margin

8.85%

4.91%

3.94

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q3 2006

Q3 2005

Change

Cash + ST Invest.

$6,701

$8,279

(19.1%)

Accounts Rec.

$653

$252

159.1%

Inventory

$2,371

$2,037

16.4%



Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

$17,729

$15,129

17.2%

Long-Term Debt

$0

$29,800

(100%)



Learn the ways of the balance sheet.

Cash Flow Highlights

Q3 2006

Q3 2005

Change

Cash From Ops.

$9,031*

$10,371

(12.9%)

Capital Expenditures

$3,469*

$1,597

117.2%

Free Cash Flow

$5,562

$8,774

(36.6%)

*From comments made during the conference call and the Q2 10-Q.

Find out why Fools always follow the money.

Related Companies:

  • Bob Evans Farms (NASDAQ:BOBE)
  • Boston Market, subsidiary of McDonald's (NYSE:MCD)
  • CBRL Group (NASDAQ:CBRL)
  • Darden Restaurants (NYSE:DRI)
  • Denny's (NASDAQ:DENN)

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 had no position in any company mentioned. Fool rules are here.