On Jan. 29, Stanley Furniture (NASDAQ:STLY) released fourth-quarter earnings for the period ended Dec. 31.
- A tough environment got tougher, knocking sales down by more than 13%.
- As the gross margin declined, so did the operating margin. The net margin did not fall as heavily because of anti-dumping offsets.
- With some good working-capital management, the company increased cash flow from operations, paid down some debt, and repurchased some shares.
(Figures in thousands dollars, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change | |
|---|---|---|---|
|
Sales |
$70,636 |
$81,446 |
(13.3%) |
|
Net Profit |
$4,456 |
$5,842 |
(23.7%) |
|
EPS |
$0.40 |
$0.46 |
(13.0%) |
|
Diluted Shares |
11,235 |
12,806 |
(12.3%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
17.7% |
24.7% |
(7.0) |
|
Operating Margin |
4.0% |
11.4% |
(7.4) |
|
Net Margin |
6.3% |
7.2% |
(0.9) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$6,269 |
$12,556 |
(50.1%) |
|
Accounts Rec. |
$32,260 |
$36,957 |
(12.7%) |
|
Inventory |
$59,364 |
$69,961 |
(15.1%) |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$17,789 |
$16,405 |
8.4% |
|
Long-Term Debt |
$5,714 |
$8,571 |
(33.3%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
YTD 2006 |
YTD 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$35,324 |
$32,802 |
7.7% |
|
Capital Expenditures |
$4,196 |
$4,986 |
(15.8%) |
|
Free Cash Flow |
$31,128 |
$27,816 |
11.9% |
Find out why Fools always follow the money.
Related Companies:
- Hooker Furniture (NASDAQ:HOFT)
- Basset Furniture (NASDAQ:BSET)
- Natuzzi (NYSE:NTZ)
- La-Z-Boy (NYSE:LZB)
Related Foolishness:
Hooker Furniture and Stanley Furniture are both Motley Fool Hidden Gems recommendations. La-Z-Boy is an Income Investor selection. Check out either newsletter service free for 30 days.
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