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- Comparable-store sales increased 3.1% to help move total sales ahead 5.1%.
- Gross margin decreased by 20 bps because of increased occupancy costs, a rise in promotional activities, and a shift in sales to lower-margin products.
- Wild Oats' proposed merger with its competitor Whole Foods (Nasdaq: WFMI) is running into rough weather, with questions of monopoly cropping up.
(Figures in millions except per-share data.)
Income Statement Highlights
| | Q2 2007 | Q2 2006 | Change |
|---|---|---|---|
| Sales | $311.8 | $296.6 | 5.1% |
| Net Profit | $0.1 | $4.9 | (97.4%) |
| EPS | $0.00 | $0.16 | N/A |
| Diluted Shares | 30.4 | 30.0 | 1.5% |
Get back to basics with the income statement.
Margin Checkup
| | Q2 2007 | Q2 2006 | Change* |
|---|---|---|---|
| Gross Margin | 31.9% | 32.1% | (0.2) |
| Operating Margin | 0.6% | 2.1% | (1.5) |
| Net Margin | 0% | 1.6% | (1.6) |
Margins are the earnings engine.
Balance Sheet Highlights
| Assets | Q2 2007 | Q2 2006 | Change |
|---|---|---|---|
| Cash + ST Invest. | $38.1 | $66.7 | (42.9%) |
| Accounts Rec. | $3.3 | $5.0 | (34%) |
| Inventory | $73.1 | $69.1 | 5.8% |
| Liabilities | Q2 2007 | Q2 2006 | Change |
|---|---|---|---|
| Accounts Payable | $59.8 | $59.7 | 0.1% |
| Long-Term Debt | $147.5 | $147.9 | (0.3%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
| | YTD 2007 | YTD 2006 | Change |
|---|---|---|---|
| Cash From Ops. | $10.2 | $21.0 | (51.4%) |
| Capital Expenditures | $19.8 | $15.1 | 31.3% |
| Free Cash Flow | ($9.6) | $6.0 | N/A |
Free cash flow is a Fool's best friend.
© 2007 Universal Press Syndicate.