On Wednesday, Rule Breakers selection Secure Computing
- On a non-GAAP basis, which includes the benefits of the CipherTrust acquisition and excludes stock-based compensation and amortization of intangibles, Secure Computing booked $0.07 a share on $63.2 million in revenue, easily besting expectations.
- Billings equaled $77.5 million, well above internal guidance of $66 million to $69 million. Consequently, total deferred revenue rose to $122 million.
- For the seasonally light first quarter, management says to expect $59 million to $61 million in non-GAAP sales, $0.03 to $0.04 in non-GAAP net income, and $68 million to $70 million in billings.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$51,586 |
$30,234 |
70.6% |
|
Net Profit |
($27,423) |
$6,574 |
N/A |
|
EPS |
($0.44) |
$0.17 |
N/A |
|
Diluted Shares |
64,594 |
38,728 |
66.8% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
69.92% |
75.20% |
(5.28) |
|
Operating Margin |
(18.39%) |
20.11% |
(38.50) |
|
Net Margin |
(53.16%) |
21.74% |
(74.90) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$8,706 |
$81,179 |
(89.3%) |
|
Accounts Rec. |
$63,637 |
$29,795 |
113.6% |
|
Inventory |
$4,078 |
$2,174 |
87.6% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$12,442 |
$2,997 |
315.1% |
|
Long-Term Debt |
$85,023 |
$0 |
N/A |
Learn the ways of the balance sheet.
Cash Flow Checkup
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$36,123 |
$27,554 |
31.1% |
|
Capital Expenditures |
$11,841 |
$2,496 |
374.4% |
|
Free Cash Flow |
$24,282 |
$25,058 |
(3.1%) |
Find out why Fools always follow the money.
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Related Foolishness:
- Catch up with the Q3 numbers.
- Ready to name Secure Computing the best tech stock for 2007?
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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.
Fool contributor Tim Beyers, ranked 955 out of more than 21,300 in Motley Fool CAPS, owns shares of Secure Computing. Get the skinny on all the stocks he owns by checking Tim's Fool profile. McAfee and Websense are former Stock Advisor selections. Symantec is an Inside Value pick. The Motley Fool's disclosure policy always adds up.
