On Nov. 2, health, safety, and defense products maker Mine Safety Appliances (NYSE:MSA) released third-quarter earnings for the period ended Sept. 30.
- Sales declined 3.7% to $209.8 million, primarily because of lower sales of Advanced Combat Helmets and related communications systems to the military.
- Net profit dipped 25.9% to $12.6 million.
- Management headlined substantial delays in federal funding for the U.S. Fire Service, which in turn has delayed fire departments from upgrading their equipment.
- High capital expenditures and a 63.1% decline in cash from operations resulted in negative free cash flows for the period.
- This Motley FoolHidden Gems selection is stuck at three-star status in Motley Fool CAPS.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change | |
|---|---|---|---|
|
Sales |
$209.8 |
$217.8 |
(3.7%) |
|
Net Profit |
$12.6 |
$17.0 |
(25.9%) |
|
EPS |
$0.34 |
$0.46 |
(26.1%) |
|
Diluted Shares |
36.7 |
37.3 |
(1.6%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
37.3% |
36.6% |
0.7 |
|
Operating Margin |
9.5% |
12.6% |
(3.0) |
|
Net Margin |
6% |
7.8% |
(1.8) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$39.7 |
$65.6 |
(39.5%) |
|
Accounts Rec. |
$170.1 |
$156.9 |
8.4% |
|
Inventory |
$154.3 |
$129.4 |
19.2% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$52.1 |
$45.0 |
15.9% |
|
Long-Term Debt |
$53.8 |
$54.0 |
(0.2%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
YTD 2006 |
YTD 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$21.9 |
$59.3 |
(63.1%) |
|
Capital Expenditures |
$46.7 |
$32.2 |
45.2% |
|
Free Cash Flow |
($24.8) |
$27.1 |
N/A |
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Related Companies:
- Lakeland Industries (NASDAQ:LAKE)
- Abatix (NASDAQ:ABIX)
- Respironics (NASDAQ:RESP)
- Honeywell (NYSE:HON)
Related Foolishness:
- Foolish Forecast: Mine Safety Goes Underground
- Foolish Forecast: Minding Mine Safety
- Foolish Forecast: Navigating Lakeland
Mine Safety Appliances is a Hidden Gems recommendation. You can view the entire Hidden Gems scorecard with yourfree trial.
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