On Aug. 9, Wild Oats Markets (NASDAQ:OATS) released second-quarter earnings for the period ended June 30.
- Comparable-store sales increased 3.1% to help move total sales ahead 5.1%.
- Gross margin decreased by 20 bps because of increased occupancy costs, a rise in promotional activities, and a shift in sales to lower-margin products.
- Wild Oats' proposed merger with its competitor Whole Foods (NASDAQ:WFMI) is running into rough weather, with questions of monopoly cropping up.
(Figures in millions except per-share data.)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change | |
|---|---|---|---|
|
Sales |
$311.8 |
$296.6 |
5.1% |
|
Net Profit |
$0.1 |
$4.9 |
(97.4%) |
|
EPS |
$0.00 |
$0.16 |
N/A |
|
Diluted Shares |
30.4 |
30.0 |
1.5% |
Get back to basics with the income statement.
Margin Checkup
|
Q2 2007 |
Q2 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
31.9% |
32.1% |
(0.2) |
|
Operating Margin |
0.6% |
2.1% |
(1.5) |
|
Net Margin |
0% |
1.6% |
(1.6) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$38.1 |
$66.7 |
(42.9%) |
|
Accounts Rec. |
$3.3 |
$5.0 |
(34%) |
|
Inventory |
$73.1 |
$69.1 |
5.8% |
|
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$59.8 |
$59.7 |
0.1% |
|
Long-Term Debt |
$147.5 |
$147.9 |
(0.3%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
YTD 2007 |
YTD 2006 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$10.2 |
$21.0 |
(51.4%) |
|
Capital Expenditures |
$19.8 |
$15.1 |
31.3% |
|
Free Cash Flow |
($9.6) |
$6.0 |
N/A |
Free cash flow is a Fool's best friend.
Related Foolishness:
Whole Foods is a
Stock Advisor
selection.
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