On Feb. 27, media giant CBS Corporation
- Revenue growth was stunted by declines in the radio segment. Programming changes and a challenging advertising market dropped radio sales 8%.
- Television operating income reported robust 20% growth, helped by the cable sale of "Star Trek: Voyager."
- Fourth-quarter free cash flow was in the red because of a $200 million discretionary contribution to pre-fund one of the company's qualified pension plans.
- CBS carries a three-star rating in Motley Fool CAPS, while former parent company Viacom
(NYSE:VIA) has a four-star rating.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$3,882.9 |
$3,788.9 |
2.5% |
|
Net Profit* |
$335.0 |
($9,232.0) |
N/A |
|
EPS |
$0.43 |
($12.12) |
N/A |
|
Diluted Shares |
776.4 |
761.6 |
1.9% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Operating Margin |
17.6% |
(233.0%) |
250.5 |
|
Net Margin |
8.6% |
(243.7%) |
252.3 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$3,074.6 |
$1,655.3 |
85.7% |
|
Accounts Rec. |
$2,824.0 |
$2,726.1 |
3.6% |
|
Inventory |
$982.9 |
$970.0 |
1.3% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$502.3 |
$588.6 |
(14.7%) |
|
Long-Term Debt |
$7,027.3 |
$7,153.2 |
(1.8%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
YTD 2006 |
YTD 2005 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$1,888.4 |
$3,537.0 |
(46.6%) |
|
Capital Expenditures |
$394.1 |
$327.0 |
20.5% |
|
Free Cash Flow |
$1,494.3 |
$3,210.0 |
(53.4%) |
Find out why Fools always follow the money.
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