On April 30, electronics retailer RadioShack (NYSE:RSH) released results for the first quarter ended March 31, as it looks to remodel itself. Here are the quick and dirty details for the quarter.

  • Net sales fell 14.5% as same-store sales struggled, falling 9.2% due to "the highly promotional nature of our business in the first quarter last year."
  • Profitability jumped as new management focused on cost-cutting and better inventory management to stem the sales slide.
  • Because of increased financial discipline, RadioShack was also able to increase cash on hand, reduce debt, buy back shares, and improve cash flow.
  • RadioShack is still unloved in Motley Fool's CAPS community, as it carries a lowly one-star rating. Electronics rival Circuit City (NYSE:CC) is equally shunned at one star, while Best Buy (NYSE:BBY) carries a more favorable three-star rating. Texas-based Conn's (NASDAQ:CONN) has a five-star rating, the highest possible.

(Figures in millions, except per-share data)

Income Statement Highlights

Q1 2007

Q1 2006

Change

Sales

$992.3

$1,160.0

(14.5%)

Net Profit

$42.5

$8.4

406.0%

EPS

$0.31

$0.06

416.7%

Diluted Shares

137.1

135.8

1.0%

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

Margin Checkup

Q1 2007

Q1 2006

Change*

Gross Margin

52.0%

48.3%

3.7

Operating Margin

7.5%

2.1%

5.4

Net Margin

4.3%

0.7%

3.6

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q1 2007

Q1 2006

Change

Cash + ST Invest.

$463

$45

920.3%

Accounts Rec.

$169

$265

(36.4%)

Inventory

$651

$960

(32.2%)

Liabilities

Q1 2007

Q1 2006

Change

Accounts Payable

$182

$212

(14.0%)

Long-Term Debt

$342

$492

(30.5%)

The balance sheet reflects the company's health.

Cash Flow Highlights

Q1 2007

Q1 2006

Change

Cash From Ops.

$48

($283)

(116.9%)

Capital Expenditures

$9

$26

(64.4%)

Free Cash Flow

$38

($309)

(112.4%)

Find out why free cash flow is a Fool's best friend.

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.

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.