On Feb. 15, Marine Products (NYSE:MPX) released 2005 full-year earnings for the period ended Dec. 31.
- Sales increased 8% on strong gains during the beginning of the year but fell short of analyst estimates.
- The company reported the fortieth consecutive year of profitable operations, even though the fourth quarter proved rough.
- Keep an eye on growing accounts receivables and weaker cash flow results.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
2005 |
2004 |
% Change | |
|---|---|---|---|---|
|
Sales |
$274,233 |
$272,057 |
$252,418 |
+7.8% |
|
Net Profit |
-- |
$26,223 |
$23,743 |
+10.4% |
|
EPS |
$0.66 |
$0.65 |
$0.58 |
+12.1% |
Get back to basics with a look at the income statement.
Margin Checkup
|
2005 |
2004 |
Change | |
|---|---|---|---|
|
Gross Margin |
25.41% |
25.98% |
-0.58 |
|
Op. Margin |
13.07% |
14.17% |
-1.10 |
|
Net Margin |
9.64% |
9.41% |
0.23 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
2005 |
2004 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$38,925 |
$46,747 |
-16.7% |
|
Inventory |
$26,856 |
$25,869 |
+3.8% |
|
Accounts Rec. |
$3,662 |
$1,082 |
+238.4% |
|
Liabilities |
2005 |
2004 |
% Change |
|---|---|---|---|
|
Long-Term Debt |
- |
- |
N/A |
|
Accounts Pay. |
$3,461 |
$3,750 |
-7.7% |
Cash Flow Highlights
|
2005 |
2004 |
% Change | |
|---|---|---|---|
|
Cash From Ops |
$19,366 |
$29,405 |
-34.1% |
|
Capital Expend. |
$1,118 |
$2,838 |
-60.6% |
|
Free Cash Flow |
$18,248 |
$26,567 |
-31.3% |
Find out why Fools always follow the money.
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At the time of publication, Fool analyst Andy Cross did not own share in any company mentioned. Fool rules are here.
