On Aug. 8, Blackboard
- Revenues increased 32%, beating analyst estimates.
- Margins suffered across the board, and the bottom line swung from a $0.21-per-share profit the prior year to a loss of $0.23 per share for Q2 2006.
- Continued integration of the Web CT acquisition sent free cash flow even deeper into negative territory.
(Figures in thousands, except per-share data)
Income Statement Highlights
Avg. Est. | Q2 2006 | Q2 2005 | Change | |
|---|---|---|---|---|
Sales | $42,150 | $43,580 | $33,049 | 31.9% |
Net Profit | -- | ($6,311) | $6,063 | N/A |
EPS | ($0.23) | ($0.23) | $0.21 | N/A |
Diluted Shares | -- | 27,777 | 28,201 | (1.5%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q2 2006 | Q2 2005 | Change* | |
|---|---|---|---|
Gross Margin | 67.16% | 70.81% | (3.65) |
Operating Margin | (18.99%) | 17.42% | (36.41) |
Net Margin | (14.48%) | 18.35% | (32.83) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets | Q2 2006 | Q2 2005 | Change |
|---|---|---|---|
Cash + ST Invest. | $27,620 | $99,696 | (72.3%) |
Accounts Rec. | $57,060 | $38,719 | 47.4% |
Inventory | $2,851 | $2,507 | 13.7% |
Liabilities | Q2 2006 | Q2 2005 | Change |
|---|---|---|---|
Accounts Payable | $1,977 | $1,811 | 9.2% |
Long-Term Debt | $56,867 | $27 | 210,519% |
Learn the ways of the balance sheet.
Cash Flow Highlights
Q2 2006 | Q2 2005 | Change | |
|---|---|---|---|
Cash From Ops. | ($13,871) | $1,085 | N/A |
Capital Expenditures | $5,741 | $4,774 | 20.3% |
Free Cash Flow | ($19,612) | ($3,689) | N/A |
Find out why Fools always follow the money.
Related Companies:
- eCollege
(NASDAQ:ECLG) - Microsoft
(NASDAQ:MSFT) - Oracle
(NASDAQ:ORCL) - Apple
(NASDAQ:AAPL)
Blackboard is aMotley Fool Hidden Gemsrecommendation. A free trial will let you find out why the stock is up more than 52% since it was first recommended in June 2005.
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.
At the time of publication, Seth Jayson had shares of Blackboard and Microsoft but no positions in any other company mentioned. Microsoft is a Motley Fool Inside Value recommendation. Fool rules are here.
