On Monday, April 9, after the market closed, small-cap lift-truck equipment firm Cascade
- Despite only a 1% increase in domestic sales, firmwide sales rose 9.7%, thanks to strong top-line growth in Europe (19%), China (47%), and the Asian Pacific region (15%).
- Operating income more than doubled in the Asia Pacific market, home of Toyota
(NYSE:TM) , which also has some lift-truck operations. - EPS growth (27%) outpaced net income (24%), thanks to the company's share repurchases.
- Investors aren't lifting Cascade to any pedestals. It carries a below-average two-star rating in Motley Fool CAPS.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q4 2007 |
Q4 2006 |
Change |
|
|---|---|---|---|---|
|
Sales |
$166,680 |
$118,891 |
$108,423 |
9.7% |
|
Net Profit |
-- |
$10,241 |
$8,265 |
23.9% |
|
EPS |
$0.75 |
$0.80 |
$0.63 |
27.0% |
|
Diluted Shares |
-- |
12,881 |
13,095 |
(1.6%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2007 |
Q4 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
29.85% |
29.37% |
0.48 |
|
Operating Margin |
11.64% |
9.81% |
1.83 |
|
Net Margin |
8.61% |
7.62% |
0.99 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$36,593 |
$58,497 |
(37.4%) |
|
Accounts Rec. |
$74,992 |
$67,020 |
11.9% |
|
Inventory |
$58,280 |
$56,996 |
2.3% |
|
Liabilities |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$26,008 |
$25,124 |
3.5% |
|
Long-Term Debt |
$34,000 |
$12,500 |
172.0% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
FY 2007 |
FY 2006 |
Change* |
|
|---|---|---|---|
|
Cash From Ops. |
$57,109 |
$50,425 |
13.3% |
|
Capital Expenditures |
$18,078 |
$10,580 |
70.9% |
|
Free Cash Flow |
$39,031 |
$39,845 |
(2.0%) |
Free cash flow is a Fool's best friend.
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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.
Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss further any companies mentioned. The Fool has an ironclad disclosure policy.
