On Oct. 24, Corning
- Management said demand for glass products improved as customers geared up for strong fourth-quarter sales of LCD televisions, notebook computers, and desktop monitors.
- Cash and short-term investments increased to $2.8 billion because of the issuance of $250 million of long-term debt.
- For the fourth quarter, management estimates sales in the range of $1.28 billion to $1.33 billion, and EPS in the range of $0.26 to $0.29, before special items.
(Figures in millions, except per-share data)
Income Statement Highlights
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
---|---|---|---|---|
Sales |
$1,296 |
$1,282 |
$1,188 |
7.9% |
Net Profit |
-- |
$438 |
$203 |
115.8% |
EPS |
$0.25 |
$0.27 |
$0.13 |
107.7% |
Diluted Shares |
-- |
1593 |
1552 |
(3.8%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q3 2006 |
Q3 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
44.15% |
45.88% |
(1.73) |
Operating Margin |
15.91% |
12.21% |
3.70 |
Net Margin |
34.17% |
17.09% |
17.08 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$2,812 |
$2,418 |
16.3% |
Accounts Rec. |
$753 |
$631 |
19.3% |
Inventory |
$673 |
$559 |
20.4% |
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Accounts Payable |
$574 |
$554 |
3.6% |
Long-Term Debt |
$1,710 |
$1,804 |
(5.2%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
YTD 2006 |
YTD 2005 |
Change |
|
---|---|---|---|
Cash From Ops. |
$1,175 |
$1,280 |
(8.2%) |
Capital Expenditures |
$892 |
$1,076 |
(17.1%) |
Free Cash Flow |
$283 |
$204 |
38.7% |
Find out why Fools always follow the money.
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