After the market closed Nov. 13, retailer Dick's Sporting Goods (NYSE:DKS) released third-quarter 2006 earnings for the period ended Oct. 28. Here are the quick and dirty details.

  • Sales grew 21.6% to $708.3 million, while same-store sales jumped an impressive 8.9%. Galyan's stores purchased last year are now being included in comparable-store calculations.
  • Management raised full-year earnings guidance to $1.95 to $1.98 from $1.84 to $1.88 and expects store comps to increase 6% for 2006.
  • Dick's announced it is acquiring Golf Galaxy (NASDAQ:GGXY) for $18.82 per share.

(Figures in thousands, except per-share data)

Income Statement Highlights

Q3 2006

Q3 2005

Change

Sales

$708,343

$582,665

21.6%

Net Profit

$7,795

$4,183

86.3%

EPS

$0.14

$0.08

75.0%

Diluted Shares

55,437

53,947

2.8%

*13 weeks ended Oct. 28, 2006, and Oct. 29, 2005

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

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

27.01%

26.34%

0.67

Operating Margin

2.20%

1.87%

0.33

Net Margin

1.10%

0.72%

0.38

*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.

$35,137

$32,009

9.8%

Accounts Rec.

$62,922

$55,366

13.6%

Inventory

$787,103

$674,877

16.6%



Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

$384,727

$332,446

15.7%

Long-Term Debt

$282,735

$383,426

(26.3%)



Learn the ways of the balance sheet.

Cash Flow Highlights

Q3 2006

Q3 2005

Change

Cash From Ops.

$5,949

($72,384)

N/A

Capital Expenditures

$136,175

$93,716

46.1%

Free Cash Flow

($130,226)

($166,100)

N/A

*39 weeks ended Oct. 28, 2006, and Oct. 29, 2005

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Related Companies:

  • Big 5 Sporting Goods (NASDAQ:BGFV)
  • Cabela's (NYSE:CAB)
  • Gander Mountain (NASDAQ:GMTN)
  • Hibbett Sporting Goods (NASDAQ:HIBB)

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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.