On Nov. 8, Orix (NYSE:IX) released second-quarter earnings for the period ended Sept. 30.

  • Revenues jumped 18.7% to $2.4 billion, driven by increased revenues from operating leases and interest on loans and investment securities.

  • For fiscal 2007, the company expects revenues, operating income, and net income to grow by 19%, 27% and 17% respectively.

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(Figures in millions, except per-share data)

Income Statement Highlights

Q2 2007

Q2 2006**

Change

Sales

$2,418

$2,037

18.7%

Net Profit

$352

$390

(9.7%)

EPS*

$3.91

$4.45

(12.1%)

Diluted Shares

90.0

87.6

2.7%

*EPS is calculated using six months' average shares.
**All FY 2006 numbers from the company 6-K filed on Nov. 25, 2005.

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

Margin Checkup

Q2 2007

Q2 2006

Change*

Operating Margin

22.9%

28.7%

(5.8)

Net Margin

14.6%

19.2%

(4.6)

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q2 2007

Q2 2006

Change

Cash + ST Invest.*

$1,225

$1,620

(24.4%)

Accounts Rec.

$1,530

$1,262

21.2%

Inventory

$1,342

$1,017

32.0%



Liabilities

Q2 2007

Q2 2006

Change

Accounts Payable

$3,049

$2,718

12.2%

Long-Term Debt

$30,338

$26,155

16.0%

*Short-term investments include time deposits only.

Learn the ways of the balance sheet.

Cash Flow Highlights

YTD 2007

YTD 2006

Change

Cash From Ops.

$1,407

$991

42.0%

Capital Expenditures*

$4,549

$4,505

1.0%

Free Cash Flow

($3,142)

($3,514)

N/A

*Purchase of lease equipment is used as capital expenditure.

Find out why Fools always follow the money.

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