On Nov. 29, Tiffany & Co.
- Tiffany's blew past analyst expectations for revenue and EPS, reporting $547.8 million in revenue and $0.21 per diluted share in earnings. Analyst expectations were for $544 million and $0.16 per share.
- Sales increased 9% at domestic retail stores, 9% at international retail stores, and 11% through the direct marketing channel. Same-store sales increased 4%, helping the company gain some leverage seen in its increase in operating margin and net margin, though gross margins declined slightly.
- Tiffany's took advantage of its attractively valued shares during the year, repurchasing 7.7 million of its shares so far this year at an average cost of $34.24 per share. Tiffany has reduced its weighted average share count by 4.2% in comparison to last year.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$547,786 |
$500,105 |
9.5% |
|
Net Profit |
$29,142 |
$23,789 |
22.5% |
|
EPS |
$0.21 |
$0.16 |
31.3% |
|
Diluted Shares |
138,872 |
144,993 |
(4.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
53.57% |
54.09% |
(0.52) |
|
Operating Margin |
8.04% |
7.96% |
0.08 |
|
Net Margin |
5.32% |
4.76% |
0.56 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$58,185 |
$111,586 |
(47.9%) |
|
Accounts Rec. |
$150,067 |
$129,454 |
15.9% |
|
Inventory |
$1,309,466 |
$1,104,326 |
18.6% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$223,377 |
$182,831 |
22.2% |
|
Long-Term Debt |
$416,863 |
$373,606 |
11.6% |
Learn the ways of the balance sheet.
Cash Flow Highlights
Not provided by company.
Find out why Fools always follow the money.
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At the time of publication,Nathan Parmelee owned shares in Blue Nile but had no positions in any of the other companies mentioned. Fool rules are here.
