On May 24, Hibbett Sports
- Net sales increased 5.5%, with comparable-store sales rising 0.7%. The 11.2% drop in net profit was due to higher operating expenses.
- Hibbett opened nine new stores and closed two stores during the first quarter, bringing the store base to 620 in 23 states as of May 5.
- The company plans to open 15 to 18 stores and close two to three stores in the second quarter, and to open 90 to 95 stores and close five to 10 stores in fiscal 2008.
- For the second quarter ending August 4, Hibbett expects to report earnings per diluted share of $0.20-$0.24.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2008 |
Q1 2007 |
Change |
|
|---|---|---|---|
|
Sales |
$133.8 |
$126.9 |
5.5% |
|
Net Profit |
$10.2 |
$11.5 |
(11.2%) |
|
EPS |
$0.32 |
$0.35 |
(8.6%) |
|
Diluted Shares |
32.2 |
33.1 |
(2.8%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2008 |
Q1 2007 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
33.7% |
34.8% |
(1.1) |
|
Operating Margin |
12% |
14.3% |
(2.3) |
|
Net Margin |
7.6% |
9.1% |
(1.4) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$19.0 |
$26.8 |
(29%) |
|
Accounts Rec. |
$4.0 |
$5.2 |
(23.9%) |
|
Inventory |
$133.4 |
$116.1 |
14.8% |
|
Liabilities |
Q1 2008 |
Q1 2007 |
Change |
|---|---|---|---|
|
Accounts Payable |
$36.6 |
$40.0 |
(8.4%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
As the company changes its name, maybe it should change its policy concerning putting the cash flow statement in the earnings release.
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. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
