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

*Expressed in percentage points

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%)

*Includes current portion

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%

*Net of sale of assets

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.