On May 31, Tiffany (NYSE:TIF) released first-quarter earnings for the period ended April 30.

  • Total sales were 15.1% higher, as the company posted double-digit gains in all markets except Japan, which continues to struggle.
  • Profits at Tiffany improved 15.1% to $49.7 million in the first quarter.
  • The company repurchased 520,618 shares of its common stock at an average cost of $48.01 per share.
  • Tiffany is a valuable selection, getting four stars (out of a possible five) in Motley Fool CAPS.

(Figures in millions, except per-share data.)

Income Statement Highlights

Q1 2007

Q1 2006

Change

Sales

$620.9

$539.2

15.1%

Net Profit

$49.7

$43.1

15.1%

EPS

$0.36

$0.30

20.0%

Diluted Shares

139.7

144.4

(3.2%)

Get back to basics with the income statement.

Margin Checkup

Q1 2007

Q1 2006

Change*

Gross Margin

54.5%

55.8%

(1.3)

Operating Margin

13.1%

13.8%

(0.6)

Net Margin

8.0%

8.0%

0.0

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q1 2007

Q1 2006

Change

Cash + ST Invest.

$127.3

$226.7

(43.9%)

Accounts Rec.

$162.0

$156.1

3.8%

Inventory

$1,295.2

$1,140.8

13.5%

Liabilities

Q1 2007

Q1 2006

Change

Accounts Payable

$177.9

$210.2

(15.4%)

Long-Term Debt

$401.7

$428.5

(6.2%)

The balance sheet reflects the company's health.

Cash Flow Highlights

Guess the cash flow statement didn't fit in the little blue box.

Free cash flow is a Fool's best friend.

Related Foolishness:

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.

At the time of publication, Fool contributor Mike Cianciolo held no position in Tiffany.