On Thursday, Nov. 30, electronics retailer Conn's (NASDAQ:CONN) released fiscal third-quarter 2006 earnings for the period ended Oct. 31. Here are the quick and dirty details for the quarter.

  • Sales grew 0.6% to $173.7 million as same-store sales fell 3.7%. Conn's was up against tough comps because of hurricane-related rebuilding benefits in last year's quarter.
  • Diluted earnings fell 16.7% and were partly attributed to loan delinquencies that increased more than management expected and also were hurricane-related.
  • Management expects full-year fiscal 2007 diluted earnings of $1.55-$1.65, down from a previous range of $1.60-$1.75.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q3 2006

Q3 2005

Change

Sales

$180,590

$173,693

$172,589

0.6%

Net Profit

--

$7,154

$8,855

(19.2%)

EPS

$0.31

$0.30

$0.36

(16.7%)

Diluted Shares

24,165

24,265

(0.4%)

*13 weeks ended Oct. 31, 2006 and 2005.

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

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

36.31%

36.25%

0.06

Operating Margin

6.34%

7.97%

(1.63)

Net Margin

4.12%

5.13%

(1.01)

*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.

$44,127

$36,165

22%

Accounts Rec.

$153,674

$23,351

558.1%

Inventory

$77,224

$71,636

7.8%



Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

$32,286

$52,931

(39%)

Long-Term Debt

$116

$0

N/A



Learn the ways of the balance sheet.

Cash Flow Highlights

Q3 2006

Q3 2005

Change

Cash From Ops.

$11,090

$51,829

(78.6%)

Capital Expenditures

$13,409

$14,085

(4.8%)

Free Cash Flow

($2,319)

$37,744

N/A

*39 weeks ended Oct. 31, 2006 and 2005.

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Comparable Companies:

  • Best Buy (NYSE:BBY)
  • Circuit City (NYSE:CC)
  • Tweeter (NASDAQ:TWTR)
  • Rex Stores (NASDAQ:RSH)

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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.