On Aug. 4, Ceradyne
- Revenue increased 80%, and earnings more than doubled.
- There was major margin expansion: 3 percentage points at the gross level, and nearly 6 percentage points at operating profit and net profit.
- Earnings were slashed by a full $0.05 per share for options granted from 1997 through 2003.
(Figures in thousands, except per-share data)
Income Statement Highlights
Avg. Est. | Q2 2006 | Q2 2005 | Change | |
---|---|---|---|---|
Sales | $167,400 | $162,016 | $89,903 | 80.2% |
Net Profit | -- | $30,031 | $11,400 | 163.4% |
EPS | $1.05 | $1.10 | $0.46 | 139.1% |
Diluted Shares | -- | 27,340 | 24,926 | 9.7% |
Get back to basics with a look at the income statement.
Margin Checkup
Q2 2006 | Q2 2005 | Change* | |
---|---|---|---|
Gross Margin | 39.31% | 36.21% | 3.1 |
Operating Margin | 28.36% | 22.38% | 5.98 |
Net Margin | 18.54% | 12.68% | 5.86 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets | Q2 2006 | Q2 2005 | Change |
---|---|---|---|
Cash + ST Invest. | $126,976 | $10,572 | 1,101.1% |
Other Current Liabilities | $198,136 | $134,015 | 47.8% |
Liabilities | Q2 2006 | Q2 2005 | Change |
---|---|---|---|
Current Liabilities | $66,204 | $55,198 | 19.9% |
Long-Term Debt | $121,000 | $108,075 | 12% |
Learn the ways of the balance sheet.
Cash Flow Highlights
Q2 2006 | Q2 2005 | Change | |
---|---|---|---|
Cash From Ops. | No Data | $10,767 | N/A |
Capital Expenditures | No Data | $9,667 | N/A |
Free Cash Flow | No Data | $1,100 | N/A |
Find out why Fools always follow the money.
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At the time of publication, Seth Jayson had shares of Ceradyne but no positions in any other firm mentioned. Fool rules are here.