On Dec. 20, furniture designer and manufacturer Herman Miller
- Sales powered ahead 13.9% and orders and backlog continued to grow as well. It looks like the demand for Herman Miller products is strong.
- Shareholders have to love the operating leverage the company generated as all three types of margins were up.
- Herman Miller is one of the highest-rated stocks -- five stars -- in our community intelligence ratings service, Motley Fool CAPS.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$499.1 |
$438.2 |
13.9% |
|
Net Profit |
$36.6 |
$27.9 |
31.2% |
|
EPS |
$0.56 |
$0.40 |
40.0% |
|
Diluted Shares |
65.6 |
69.2 |
(5.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
34.1% |
32.8% |
1.3 |
|
Operating Margin |
11.8% |
10.1% |
1.7 |
|
Net Margin |
7.3% |
6.4% |
0.9 |
*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. |
$66.7 |
$166.0 |
(59.8%) |
|
Accounts Rec. |
$197.7 |
$170.3 |
16.1% |
|
Inventory |
$72.3 |
$53.1 |
36.2% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$119.9 |
$108.0 |
11.0% |
|
Long-Term Debt |
$177.4 |
$179.4 |
(1.1%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q2 2006 |
Q2 2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$30.6 |
$44.2 |
(30.8%) |
|
Capital Expenditures |
$10.2 |
$11.6 |
(12.1%) |
|
Free Cash Flow |
$20.4 |
$32.6 |
(37.4%) |
Find out why Fools always follow the money.
Related Companies:
-
Design Within Reach
(NASDAQ:DWRI) -
HNI
(NYSE:HNI) -
Steelcase
(NYSE:SCS)
Related Foolishness:
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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, David Meier did not own shares in any of the companies mentioned. Fool rules for disclosure are here.
