On Aug. 30, optical-networking specialist JDS Uniphase (NASDAQ:JDSU) released Q4 2006 earnings for the period ending June 30. (And, of course, it released fourth-quarter earnings, too. But that's another story.)

  • Margins of all kinds are still moving in the right direction, continuing recent trends, but GAAP profitability remains a distant goal.
  • The acquisition of network-testing specialist Acterna last fall nearly doubled revenues and improved margins, too.

  • Most of that massive share dilution was also a result of that part-cash, part-stock-swap acquisition.

(Figures in millions, except per-share data)

Income Statement Highlights

Avg. Est.

Q4 2006

Q4 2005

Change

Sales

$314

$318

$171

86.2%

Net Profit

--

($46)

($146)

N/A

EPS

$0.00

($0.03)

($0.10)

N/A

Diluted Shares

1,685

1,448

16.3%



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2006

Q4 2005

Change*

Gross Margin

30.08%

14.28%

15.80

Operating Margin

(20.30%)

(73.38%)

53.08

Net Margin

(14.39%)

(85.25%)

70.86

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Cash + ST Invest.

$1,239

$1,305

(5.1%)

Accounts Rec.

$232

$102

127.1%

Inventory

$202

$97

107.6%


Liabilities

Q4 2006

Q4 2005

Change

Accounts Payable

$127

$75

68.6%

Long-Term Debt

$900

$475

89.3%



Learn the ways of the balance sheet.

Cash Flow Highlights

Once again, we're denied a proper cash flow statement. Curses!

Find out why Fools always follow the money.

Related Companies:

  • Cisco (NASDAQ:CSCO)
  • McData (NASDAQ:MCDT)
  • Verizon (NYSE:VZ)
  • Sun Microsystems (NASDAQ:SUNW)
  • Nortel (NYSE:NT)
  • Lucent (NYSE:LU)

Related Foolishness:

Keep tabs on high-tech companies poised for explosive growth with a free 30-day trial to David Gardner'sMotley Fool Rule Breakers.

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 checkFool.comfor more of our in-depth discussion of what the numbers mean.

At the time of publication,Anders Bylundhad no position in any company mentioned. Fool rules arehere.