On Dec. 18, Steelcase (NYSE:SCS) released its third-quarter earnings for the period ended Nov. 24.
- Sales grew almost 7% and the international business unit experienced 19.2% growth.
- Margins increased across the board, despite a restructuring charge.
- There are only 18 ratings for Steelcase in our new community intelligence service, Motley Fool CAPS. Fifteen of them are "outperform." If you've got an opinion, we want to know it -- sign up today and bring it to CAPS.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change | |
|---|---|---|---|
|
Sales |
$802.0 |
$750.7 |
6.8% |
|
Net Profit |
$32.8 |
$19.1 |
71.7% |
|
EPS |
$0.22 |
$0.13 |
69.2% |
|
Diluted Shares |
149.2 |
148.7 |
0.3% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
30.8% |
29.8% |
0.9 |
|
Operating Margin |
5.1% |
4.4% |
0.7 |
|
Net Margin |
4.1% |
2.5% |
1.6 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$525.0 |
$331.6 |
58.3% |
|
Accounts Rec. |
$398.1 |
$409.4 |
(2.8%) |
|
Inventory |
$159.7 |
$153.3 |
4.2% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$226.6 |
$194.7 |
16.4% |
|
Long-Term Debt* |
$256.1 |
$268.1 |
(0.7%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
YTD 2006 |
YTD 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$192.4 |
$93.0 |
106.9% |
|
Capital Expenditures* |
$25.8 |
$30.2 |
(14.6%) |
|
Free Cash Flow |
$166.6 |
$62.8 |
165.3% |
Find out why Fools always follow the money.
Related Companies:
- Design Within Reach (NASDAQ:DWRI)
- Herman Miller (NASDAQ:MLHR)
-
HNI (NYSE:HNI)
Related Foolishness:
Steelcase has really turned itself around recently. You know who else likes turnarounds? Inside Value lead analyst Philip Durell. Come take a free trial to see his success stories.
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, David Meier did not own shares in any of the companies mentioned. Fool rules for disclosure are here.
