On May 1, FoxHollow Technologies (NASDAQ:FOXH) released first-quarter earnings for the period ended March 31.
- Revenue was up a modest 5.5%, largely due to collaboration revenue from Merck (NYSE:MRK). Product revenue was actually down nearly 8%, and that is a troubling sign.
- In this quarter, company launched the SilverHawk SXL -- an enhanced offering designed to improve plaque collection from arteries and reduce procedure time. The company needs this product to be successful to reverse the product sales trend.
- FoxHollow estimates revenues in fiscal 2007 to be in the range of $205 million to $215 million, which includes $173 million to $183 million in product sales and $32 million in research collaboration revenues.
- Management forecasts a slight profit for the year with EPS in range of $0.00 to $0.20
(Figures in thousands, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change | |
|---|---|---|---|
|
Sales |
$49,217 |
$46,647 |
5.5% |
|
Net Profit |
($713) |
($14,638) |
N/A |
|
EPS |
($0.02) |
($0.60) |
N/A |
|
Diluted Shares |
29,320 |
24,304 |
20.6% |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
77.2% |
73.7% |
3.5 |
|
Operating Margin |
(6.0%) |
(32.7%) |
26.7 |
|
Net Margin |
(1.5%) |
(31.4%) |
29.9 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$169,716 |
$59,367 |
185.9% |
|
Accounts Rec. |
$19,421 |
$23,759 |
(18.3%) |
|
Inventory |
$16,508 |
$14,752 |
11.9% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$9,902 |
$6,140 |
61.3% |
|
Long-Term Debt |
No Data |
No Data |
No Data |
The balance sheet reflects the company's health.
Cash Flow Highlights
A statement of cash flows was not provided.
Free cash flow is a Fool's best friend.
Related Foolishness:
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