On June 28, middleware specialist TIBCO
- The gross margin dip might be forgiven, considering the lumpy nature of a small company's revenue streams.
- Operating income suffered under increased spending on sales and marketing. OK, that's a legit way to grow the business, so I'll let that one slip as well.
- Net income was seriously hampered by a $6.5 million tax provision, compared to a $5.1 million tax benefit one year ago. That's an $11.6 million tax-related bottom-line hit, or almost half of the company's year-ago income.
(Figures in millions, except per-share data)
Income Statement Highlights
Q2 2007 |
Q2 2006 |
Change |
|
---|---|---|---|
Sales |
$130.5 |
$121.2 |
7.6% |
Net Profit |
$9.2 |
$24.5 |
(62.3%) |
EPS |
$0.04 |
$0.11 |
(63.6%) |
Diluted Shares |
211.9 |
219.8 |
(3.6%) |
Get back to basics with the income statement.
Margin Checkup
Q2 2007 |
Q2 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
72.1% |
73.5% |
(1.4) |
Operating Margin |
8.4% |
12.4% |
(3.9) |
Net Margin |
7.1% |
20.2% |
(13.1) |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q2 2007 |
Q2 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$470.1 |
$495.3 |
(5.1%) |
Accounts Rec. |
$115.2 |
$119.8 |
(3.8%) |
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
---|---|---|---|
Accounts Payable |
$9.7 |
$9.8 |
(1.7%) |
Long-Term Debt |
$45.5 |
$47.4 |
(4.1%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
Q2 2007 |
Q2 2006 |
Change |
|
---|---|---|---|
Cash From Ops. |
$10.6 |
$15.0 |
(29.2%) |
Capital Expenditures |
$4.0 |
$2.3 |
72.8% |
Free Cash Flow |
$6.6 |
$12.7 |
(47.8%) |
$13.2 |
$29.6 |
(55.6%) |
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, Anders Bylund had no position in any company mentioned. Fool rules are here.