On May 10, Caribou Coffee
- Revenue increased by 10.5% to $61.9 million, thanks to the opening of 48 net new company-owned coffeehouses during the last twelve months.
- The company's net loss rose to $3.25 million, primarily because of depreciation related to new coffeehouses and higher coffeehouse labor and occupancy costs.
- During the quarter, the company entered into a brand licensing agreement with Keurig (owned by Green Mountain Coffee Roasters
(NASDAQ:GMCR) ), signed up multiple new grocery customers, and established franchise agreements for seven airport locations. - Coffee sellers have had a rough go of it lately. Caribou has a one-star rating, Motley Fool CAPS' lowest, and the mighty Starbucks
(NASDAQ:SBUX) only has two stars.
(Figures in thousands, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$61,852.6 |
$55,966.2 |
10.5% |
|
Net Profit |
($3,251.1) |
($1,572.1) |
N/A |
|
EPS |
($0.17) |
($0.08) |
N/A |
|
Diluted Shares |
19,288.0 |
19,274.1 |
0.1% |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin** |
58.8% |
58.4% |
0.3 |
|
Operating Margin |
(5.0%) |
(3.1%) |
(1.9) |
|
Net Margin |
(5.3%) |
(2.8%) |
(2.5) |
**Includes related occupancy costs
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$9,672.5 |
$20,521.8 |
(52.9%) |
|
Accounts Rec. |
$2,387.3 |
$1,452.9 |
64.3% |
|
Inventory |
$9,910.0 |
$10,456.3 |
(5.2%) |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$7,755.4 |
$7,314.5 |
6.0% |
The balance sheet reflects the company's health.
Cash Flow Highlights
The company still needs to press the cash flow statements out of the beans.
Free cash flow is a Fool's best friend.
Related Foolishness:
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