On Nov. 9, media maven Viacom
- Revenue growth and income rested on the performance of Viacom's cable networks, which include Nickelodeon, MTV, BET, and Comedy Central. The Entertainment segment was up against tough comparisons with bona fide blockbuster War of the Worlds running in the year-ago quarter, and came up short on every measure.
- The balance sheet is a bit tricky, since management did not break out many of the line items we've come to expect. The debt load was taken on in connection with the split from CBS
(NYSE:CBS) back in January, and the funds raised are accounted for as additional paid-in capital. - It's always good to see a company reducing its share count. Keep this pace up for 10 years, and the share count will be cut in half, doubling the value of each share on top of whatever operational gains the company can produce.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|---|
|
Sales |
$2,630 |
$2,659.8 |
$2,477.5 |
7.4% |
|
Net Profit |
-- |
$356.8 |
$423.3 |
(15.7%) |
|
EPS |
$0.48 |
$0.50 |
$0.56 |
(10.7%) |
|
Diluted Shares |
707.3 |
751.6 |
(5.9%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Operating Margin |
24.64% |
30.01% |
(5.37) |
|
Net Margin |
13.41% |
17.09% |
(3.68) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Current Assets |
$3,840.0 |
$2384.1 |
61.1% |
|
Current Liabilities |
$3,393.5 |
$2,616.5 |
19.7% |
|
Long-Term Debt |
$8,190.0 |
$279.2 |
Big% |
Management didn't deem it necessary to break out items like cash on hand, accounts receivable, or inventories.
Learn the ways of the balance sheet.
Cash Flow Highlights
They also didn't see the need for a cash flow statement. Why make life harder for the individual investor? C'mon, guys!
Find out why Fools always follow the money.
Related Companies:
- CBS
-
Walt Disney
(NYSE:DIS) -
Time Warner
(NYSE:TWX) -
Lions Gate Entertainment
(NYSE:LGF)
Related Foolishness:
- Viacom Splits the Atom
- Now Really Is the Time for New Money
- Foolish Fundamentals: Margins
- Foolish Fundamentals: The Income Statement
Disney and Time Warner are both Motley Fool Stock Advisor selections. Find more great entertainment stocks with afree 30-day trialto our flagship newsletter service.
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 contributor Anders Bylund was a Disney shareholder but had no other position in any company mentioned. Fool rules are here .
