On May 22, CBRL Group
- Net profit decreased by 33.9% primarily because of higher interest expense associated with the company's recapitalization starting in 2006.
- Share count reduction powered EPS 18.9% higher despite the decrease in net profit.
- Comparable restaurant sales were flat, while comparable retail sales were down 0.9%.
- The company expects fiscal 2007 fourth-quarter total revenue to increase 12% to 12.5%. Management expects same-restaurant sales to be flat to up 1% and comparable retail sales up 4% to 5%.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$549.1 |
$534.0 |
2.8% |
|
Net Profit* |
$12.1 |
$18.3 |
(33.9%) |
|
EPS |
$0.44 |
$0.37 |
18.9% |
|
Diluted Shares |
30.2 |
52.5 |
(42.5%) |
Get back to basics with the income statement.
Margin Checkup
|
Q3 2007 |
Q3 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
69.4% |
69% |
0.5 |
|
Operating Margin |
5.5% |
5.7% |
(0.2) |
|
Net Margin** |
2.2% |
3.4% |
(1.2) |
**Continued operations.
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$149.9 |
$20.1 |
645.8% |
|
Other Current Assets |
$160.8 |
$161.6 |
(0.1%) |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Current Liabilities |
$256.3 |
$252.8 |
1.4% |
|
Long-Term Debt |
$836.1 |
$195.0 |
328.8% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
YTD 2007 |
YTD 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$100.0 |
$77.8 |
28.5% |
|
Capital Expenditures |
$66.6 |
$64.3 |
3.6% |
|
Free Cash Flow |
$33.4 |
$13.6 |
146.5% |
Free cash flow is a Fool's best friend.
Related Foolishness:
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