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% |
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 |
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 |
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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.
