On Dec. 20, small-engine maker Tecumseh Products
- Revenues fell 4.5% from the previous year to $429.4 million, as currency fluctuations and higher commodity costs sunk performance.
- Operating margins plummeted 7 percentage points from a slight gain last year, as higher administrative costs and impairments from assets written down drained away profits.
- Without any significant storm and hurricane activity this year, generator sales plummeted 31% from the year-ago period.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$429 |
$450 |
(4.6%) |
|
Net Profit |
($38) |
($37) |
N/A |
|
EPS |
($2.05) |
($2.01) |
N/A |
|
Diluted Shares |
18,480 |
18,480 |
0% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
5.01% |
8.91% |
(3.90) |
|
Operating Margin |
(6.82%) |
0.33% |
(7.15) |
|
Net Margin |
(8.80%) |
(8.27%) |
(0.53) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Dec. 31, 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$59 |
$117 |
(49.7%) |
|
Accounts Rec. |
$247 |
$211 |
17.2% |
|
Inventory |
$369 |
$347 |
6.3% |
|
Liabilities |
Q3 2006 |
Dec. 31, 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$215 |
$187 |
14.8% |
|
Long-Term Debt |
$266 |
$283 |
(6.1%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
($36) |
($20) |
N/A |
|
Capital Expenditures |
$13 |
$29 |
(56.2%) |
|
Free Cash Flow |
($48) |
($49) |
N/A |
Kudos to Tecumseh for providing a cash flow statement in its press release! Find out why Fools always follow the money.
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At the time of publication, Fool contributor Rich Duprey had no positions in any of the companies mentioned in the article. Fool rules are here.
