On April 27, ceramics specialist Ceradyne
- Management says higher production and better yields helped drive profit growth higher than sales growth.
- Total order backlog has climbed 13% to $332.3 million.
- The stock carries a top-of-the-line five-star rating in Motley Fool CAPS.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$188.4 |
$136.3 |
38.2% |
|
Net Profit |
$38.1 |
$24.6 |
54.8% |
|
EPS |
$1.38 |
$0.90 |
53.3% |
|
Diluted Shares |
27.5 |
27.4 |
0.5% |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
40.9% |
39.6% |
1.3 |
|
Operating Margin |
30.5% |
28.4% |
2.2 |
|
Net Margin |
20.2% |
18.1% |
2.2 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$254.5 |
$125.5 |
102.8% |
|
Accounts Rec. |
$73.4 |
$67.5 |
8.7% |
|
Inventory |
$80.0 |
$77.6 |
3.1% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$32.8 |
$40.5 |
(18.9%) |
|
Long-Term Debt |
$121.0 |
$121.0 |
0.0% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$56.1 |
$32.4 |
73.4% |
|
Capital Expenditures |
$7.2 |
$6.9 |
3.6% |
|
Free Cash Flow |
$48.9 |
$25.5 |
92.3% |
Free cash flow is a Fool's best friend.
Related Foolishness:
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