On Nov. 14, La-Z-Boy
- Sales rose 1.7%, helped by both an increase in revenues from the upholstery and retail groups and the elimination of supply chain disruptions that were present in the prior year.
- Gross margins rose for the quarter because of a 2.9% increase in sales price and a 2.1% drop in costs.
- The company plans to add seven stores and convert or relocate five stores during the remainder of fiscal 2007.
(Figures in millions, except per-share data)
Income Statement Highlights|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$440.5 |
$433.4 |
1.7% |
|
Net Profit |
$2.0 |
($6.9) |
N/A |
|
EPS |
$0.04 |
($0.13) |
N/A |
|
Diluted Shares |
51.6 |
51.7 |
(0%) |
Get back to basics with a look at the income statement.
Margin Checkup|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
25.4% |
20.6% |
4.8 |
|
Operating Margin |
0.9% |
(1.8%) |
2.8 |
|
Net Margin |
0.4% |
(1.6%) |
2.0 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$20.5 |
$15.0 |
36.5% |
|
Accounts Rec. |
$253.5 |
$258.5 |
(1.9%) |
|
Inventory |
$237.9 |
$267.3 |
(11%) |
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Accounts Payable |
$72.3 |
$73.4 |
(1.5%) |
|
Long-Term Debt |
$147.8 |
$194.5 |
(24%) |
Learn the ways of the balance sheet.
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
($23.0) |
($1.0) |
N/A |
|
Capital Expenditures |
($5.8) |
$7.6 |
N/A |
|
Free Cash Flow |
($17.2) |
($8.5) |
N/A |
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Related Companies:
-
Furniture Brands International
(NYSE:FBN) -
Natuzzi SpA
(NYSE:NTZ) -
Stanley
Furniture
(NASDAQ:STLY)
Related Foolishness:
La-Z-Boy is an Income Investor selection. Stanley Furniture is a Hidden Gems recommendation. Check out our entire suite of newsletters by clicking here.
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