Jewett-Cameron Trading Company Ltd. Authorizes Share Repurchase Plan
PR Newswire Jewett-Cameron Trading Company Ltd.
March 7, 2016 4:20 PM
NORTH PLAINS, Ore., March 7, 2016 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. ("Jewett-Cameron") (JCTCF) today is pleased to announce that its Board of Directors has authorized the implementation of a share repurchase plan to purchase for cancellation up to 250,000 common shares through facilities of the NASDAQ Stock Market ("NASDAQ"). This amount represents approximately 10.1% of the 2,476,832 common shares outstanding. During fiscal 2015, the Company repurchased 212,798 common shares under prior formal plans of repurchase.
Transactions may involve Jewett-Cameron insiders or their affiliates executed in compliance with Jewett-Cameron's Insider Trading Policy.
The share repurchase plan will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contains restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes ("ADTV") of Jewett-Cameron's shares on NASDAQ. Purchases shall be limited to daily purchases in an amount up to 25% of the ADTV in its shares, or one "Block" purchase per week in lieu of the 25% of ADTV limitation for compliance with Rule 10b-18(b)(4). A "block" as defined under Rule 10b-18(a)(5) means a quantity of stock that, among other things, is at least 5,000 shares and has a purchase price of at least US$50,000.
This share repurchase plan may commence on March 10, 2016 and will remain in place until August 25, 2016 but may be limited or terminated at any time without prior notice.
The share repurchase program was approved by the Company's Board of Directors who believe that a share repurchase program at this time is in the best interests of the Company and its shareholders, and will not impact the Company's ability to execute its growth plans
Sentiment: Strong Buy
The "Street" has SONC coming in at .18 for the Quarter that should be reported on or about March 21, 2016! All post's welcome! The "Good Dr's In"!
Golden Entertainment Closes Acquisition of Montana Distributed Gaming Business
Business Wire Golden Entertainment, Inc.
February 1, 2016 8:00 AM
LAS VEGAS--(BUSINESS WIRE)--
Golden Entertainment, Inc. (GDEN) (“Golden” or the “Company”) today announced it has completed the acquisition of approximately 1,000 gaming devices from a distributed gaming operator in the state of Montana, as well as certain non-gaming assets. Golden, through its subsidiary dba Big Sky Entertainment, purchased the assets from C. Lohman Games, Inc., Rocky Mountain Gaming, Inc. and Brandy’s Shoreliner Restaurant, Inc., collectively one of the largest distributed gaming operators in Montana, for total consideration of approximately $20 million, including the issuance of approximately 50,000 shares of Golden’s common stock. The Company funded the cash portion of the acquisition through the use of excess cash and availability under its revolving credit facility. The transaction was previously announced on December 22, 2015.
“Entering the Montana gaming market is an exciting opportunity to expand our disciplined operating strategy to new markets and diversify the geographic reach of our distributed gaming operations,” said Blake L. Sartini, Chief Executive Officer of Golden. “The transaction is aligned with our strategic vision and is expected to be immediately accretive to our operating results. We look forward to working with the local communities where we will operate, continuing to deliver a quality experience to customers and generating returns for shareholders.”
As part of the transaction, the Company entered into strategic relationships with the sellers ensuring operational continuity. The sellers were involved in the installation and operation of gaming and amusement devices, as well as maintaining ATM machines across the state of Montana. The acquisition combines the sellers’ local relationships with Golden’s expertise in distributed gaming, establishing a footprint across Montan
Sentiment: Strong Buy
RCI Hospitality's 1Q16 EPS Rebounds from 4Q15, Declares $0.03 Per Share Quarterly Dividend, to Open Third Club in New York City
PR Newswire RCI Hospitality Holdings, Inc.
February 9, 2016 4:05 PM
HOUSTON, Feb. 9, 2016 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (RICK) today announced results for the fiscal 2016 first quarter ended December 31, 2015, its first dividend, latest share buybacks, and plans to open a third gentlemen's club in Manhattan.
.RCI HOSPITALITY HOLDINGS INC (PRNewsFoto/RCI HOSPITALITY HOLDINGS INC)
GAAP and Non-GAAP* results rebounded from 4Q15, but were below the year ago record quarter in 1Q15.
GAAP EPS was $0.25 fully diluted compared to $0.05 in 4Q15 and $0.32 in 1Q15.
Non-GAAP EPS was $0.30 fully diluted compared to $0.17 in 4Q15 and $0.42 in 1Q15.
Free cash flow (FCF) remained strong at $3.9 million compared to $5.0 million in 1Q15 and is on track to reach approximately $15-18 million in FY16. RCI defines FCF as operating cash flow less maintenance capex.
Cash Dividend & Share Buy Backs
Starting in 1Q16, the company stepped up its previously authorized share buyback program, taking advantage of its strong free cash flow to return capital to shareholders.
In line with this program, RCI has declared a quarterly common stock dividend of $0.03 per share, or $0.12 per share annually. The declared dividend for the fiscal 2016 second quarter is payable on March 25, 2016, to holders of record on March 10, 2016, with an ex-dividend date of March 8, 2016.
To date in FY16, the company has purchased 336,714 common shares at a cost of $3.3 million, reducing shares outstanding to 9.948 million at January 31, 2016 from 10.295 million a year ago.
New Club in NYC
An RCI subsidiary plans to open a sports-themed gentlemen's club in the Madison Square Garden area in the second half of FY16, to complement its highly successful Rick's Cabaret New York and Vivid Cabaret New York.
Sentiment: Strong Buy
The Toro Company Reports Record First Quarter Results
First quarter sales increase 2.6 percent to a record $486.4 million
Net earnings per share for the first quarter up 29.6 percent to a record $0.70
Company is well positioned as it enters key selling season
Full-year earnings guidance raised
Business Wire The Toro Company
February 18, 2016 8:30 AM
BLOOMINGTON, Minn.--(BUSINESS WIRE)--
The Toro Company (TTC) today reported net earnings of $39.3 million, or $0.70 per share, on a net sales increase of 2.6 percent to $486.4 million for its first quarter ended January 29, 2016. In the comparable fiscal 2015 period, the company delivered net earnings of $31.0 million, or $0.54 per share, on net sales of $474.2 million.
“We are very encouraged by the positive start to the fiscal year, delivering record results for the first quarter,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “Our residential business benefitted from strong demand for zero-turn riding mowers. Strong sales of our landscape contractor equipment, increased demand for our specialty construction equipment and higher sales of golf irrigation products also contributed to the positive start to the fiscal year.”
“With an ongoing focus on innovation, we are excited about our new product lineup across our businesses for fiscal 2016. Most recently, our new golf equipment and irrigation products received a positive reception at the Golf Industry Show in San Diego, California last week. New products such as the Workman® light-duty vehicle and the enhanced product offerings for our INFINITY® Series golf sprinkler were well received by those attending the show. We were also pleased by the excitement surrounding our new product offerings at the 2016 Sports Turf Managers Show that also took place in San Diego, California. Similarly, in the days ahead, the team will be busy preparing for the upcoming Rental Show in the end of February 2016
Wynn Resorts, Limited Reports Fourth Quarter and Year End 2015 Results
Business Wire Wynn Resorts, Limited
February 11, 2016 4:10 PM
LAS VEGAS--(BUSINESS WIRE)--
Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the fourth quarter and year ended December 31, 2015.
Net revenues for the fourth quarter of 2015 were $946.9 million, compared to $1,138.0 million in the fourth quarter of 2014. The decline was the result of a 27.0% net revenue decrease from our Macau Operations, partially offset by a 3.8% increase in net revenues from our Las Vegas Operations. Adjusted property EBITDA (1) was $287.5 million for the fourth quarter of 2015, an 18.4% decrease from $352.5 million in the fourth quarter of 2014.
For the full year, net revenues were $4,075.9 million in 2015, down 25.0% from $5,433.7 million in 2014. Adjusted property EBITDA declined 33.1% to $1,185.8 million in 2015. Adjusted property EBITDA in 2015 decreased 43.7% to $708.6 million at our Macau Operations and 7.4% to $477.2 million at our Las Vegas Operations.
On a US GAAP basis, net income attributable to Wynn Resorts, Limited for the fourth quarter of 2015 was $87.2 million, or $0.86 per diluted share, compared to $109.3 million, or $1.07 per diluted share, in the fourth quarter of 2014.
Adjusted net income attributable to Wynn Resorts, Limited (2) in the fourth quarter of 2015 was $104.1 million, or $1.03 per diluted share, compared to $122.4 million, or $1.20 per diluted share, in the fourth quarter of 2014.
Wynn Resorts, Limited also announced today that the Company has approved a cash dividend for the quarter of $0.50 per common share. This dividend will be payable on March 2, 2016, to stockholders of record on February 23, 2016.
In the fourth quarter of 2015, net revenues were $555.7 million, a 27.0% decrease from the $761.2 million generated in the fourth quarter of 2014. Adjusted property EBITDA in the fourth quarter of 2015 was $160.1 million, down 3
Sentiment: Strong Buy
Tupperware Brands Reports Fourth Quarter 2015 Results; Declares Regular Quarterly Dividend
- Fourth quarter sales up 2% in local currency+ and down 13% in dollars.
- GAAP diluted E.P.S. $1.15 versus $1.63 prior year, down 9% in local currency and down 29% in dollars. Adjusted*, diluted E.P.S. $1.35, down 1% in local currency and down 22% in dollars. Two cents below guidance range including an additional 5 cents negative impact from exchange rates versus October guidance.
- South America sales up 22% in local currency and down 17% in dollars, driven by Brazil, up 22% in local currency.
- Tupperware North America segment sales up 16% in local currency and up 6% in dollars. Both Tupperware Mexico, and United States and Canada up double-digits in local currency.
- Board of Directors declares quarterly dividend of 68 cents per share.
PR Newswire Tupperware Brands Corporation
January 27, 2016 7:00 AM
ORLANDO, Fla., Jan. 27, 2016 /PRNewswire/ -- (TUP) Tupperware Brands Corporation today announced fourth quarter 2015 operating results.
.Tupperware Brands Logo
Rick Goings, Chairman and CEO, commented, "We had a disappointing quarter as we lapped a tough comparison and continued to see an impact from economic and political headwinds in many of our units. While I don't want to take away from the strong performances in a number of units, our internal actions did not overcome the impact of worse than expected externals in some of our units."
Goings continued, "Given today's environment, we're making some defensive moves to allow us to perform financially and to play better offense in implementing our growth strategies. We remain confident the strong fundamentals of our business model coupled with these actions will set a path to success for our 3.1 million global sales force, our associates and for delivery of value to our shareholders."
The "Street" has CLX coming in at 1.17 for the quarter that should be reported on or about April 28, 2016! All post's welcome! The "Good Dr's In"!
In the fourth quarter of 2015, net revenues were $555.7 million, a 27.0% decrease from the $761.2 million generated in the fourth quarter of 2014. Adjusted property EBITDA in the fourth quarter of 2015 was $160.1 million, down 33.6% from $241.2 million in the fourth quarter of 2014.
Table games turnover in the VIP segment was $13.0 billion for the fourth quarter of 2015, a 36.9% decrease from $20.7 billion in the fourth quarter of 2014. VIP table games win as a percentage of turnover (calculated before commissions) for the quarter was 2.60%, below the expected range of 2.7% to 3.0% and below the 2.80% experienced in the fourth quarter of 2014. The average number of VIP tables decreased to 192 units in the fourth quarter of 2015 from 244 units in the prior year's fourth quarter.
Commencing in the second quarter of 2015, the Company included the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage in the calculation of table drop in accordance with standard Macau industry practice. Table drop in the mass market segment was $1,185.5 million in the fourth quarter of 2015, down 10.9% from the 2014 fourth quarter. Table games win in the mass market segment decreased by 8.2% to $228.6 million in the fourth quarter of 2015. The mass market win percentage of 19.3% in the fourth quarter of 2015 increased from the 18.7% experienced in the fourth quarter of 2014.
Slot machine handle for the fourth quarter of 2015 declined 4.7% from the 2014 period to $1,069.3 million, and slot win decreased by 9.8% to $50.4 million.
For the fourth quarter of 2015, total non-casino revenues, before promotional allowances, decreased 21.2% during the quarter to $75.6 million. We achieved an average daily rate ("ADR") of $323, down 2.7% compared to the $332 in the 2014 fourth quarter. Occupancy at Wynn Macau was 96.3%, down from 98.6% in the prior-year period.
Sentiment: Strong Buy
Utah Medical Products Reports Audited Financial Performance for Fourth Quarter and Year 2015
Marketwired Utah Medical Products, Inc.
February 2, 2016 9:00 AM
SALT LAKE CITY, UT--(Marketwired - Feb 2, 2016) - Utah Medical Products, Inc. (NASDAQ: UTMD) concluded a financial year in 2015 dominated by changes in foreign currency exchange (FX) rates. Despite a weak fourth calendar quarter (4Q) due to international distributor order patterns, revenues for the year were up 1% on a constant currency basis. Earnings per share (EPS) were also up 1% excluding a "windfall" increase in 4Q 2015 net profits that resulted from the UK again lowering corporate income tax rates.
The results according to U.S. Generally Accepted Accounting Principles (US GAAP) are clouded somewhat by a favorable adjustment to UTMD's income tax provision, as explained below.
In 4Q 2015 and year of 2015, UTMD's changes in US GAAP financial results compared to the same time periods in the prior calendar year were as follows:
(October - December) Year
(January - December)
Sales: ( 6%) ( 3%)
Gross Profit: ( 8%) ( 3%)
Operating Income: (11%) ( 3%)
Net Income: + 7% + 4%
Earnings Per Share: + 7% + 4%
Currency amounts in this report are in thousands, except per share amounts and where noted.
Shareholders may recall that in 2013, as a result of the government of Great Britain enacting a law that substantially reduced corporate income tax rates looking forward, UTMD reduced its deferred tax liability (DTL) on its December 31, 2013 balance sheet resulting from lower future tax rates over the remaining almost 12 years of Femcare identifiable intangible asset (IIA) amortization. Again in November 2015, the government of Great Britain enacted a further reduction in corporate income tax rates which take effect beginning in April 2017.
Stanley Black & Decker Reports 4Q 2015 Results
PR Newswire Stanley Black & Decker
January 28, 2016 6:00 AM
NEW BRITAIN, Conn., Jan. 28, 2016 /PRNewswire/ -- Stanley Black & Decker (SWK) today announced full year and fourth quarter 2015 financial results.
Full Year Revenues Totaled $11.2 Billion Reflecting 6% Organic Growth Offset By 7% Currency Impact
Full Year Operating Margin Rate Expanded 90 Basis Points To 14.2%
Full Year Diluted GAAP EPS Was $5.92, Up 10% From 2014 As Strong Operational Performance More Than Offset $220 Million Of Currency Headwinds
2015 Free Cash Flow Of $871 Million; Working Capital Turns Maintained At 9.2
4Q'15 Revenues Totaled $2.8 Billion With 1% Organic Growth
4Q'15 Operating Margin Rate Expanded 100 Basis Points To 14.2%
4Q'15 Diluted GAAP EPS Was $1.78, Up 30% From 4Q'14 As Solid Operational Performance Combined With Lower Tax, Share Count And Restructuring More Than Offset $50 Million Of Currency Headwinds
Expect 2016 Full Year Diluted EPS Of $6.00 To $6.20 On A GAAP Basis And Free Cash Flow Conversion Of Approximately 100%
4Q'15 Key Points:
Net sales for the quarter were $2.8 billion, down 5% versus prior year, as price (+1%) was more than offset by currency (-6%).
Gross margin rate for the quarter was 35.6%, up from prior year 35.2% as price, productivity, cost actions and commodity deflation more than offset unfavorable currency.
SG&A expenses were 21.5% of sales compared to 22.1% in 4Q'14 reflecting tight cost management.
Operating margin rate was 14.2% compared to 13.2% in 4Q'14, as actions to improve profitability more than offset $50 million of unfavorable currency.
Restructuring charges for the quarter were $3.7 million compared to $24.4 million in 4Q'14.
Tax rate was 12.7% compared to the 4Q'14 rate of 17.6% as a result of adjustments to tax positions relating to undistributed foreign earnings and the impact of certain net operating losses that have become realizable.
KKR & Co. L.P. Reports Fourth Quarter and Full Year 2015 Results
Business Wire KKR & Co. L.P.
February 11, 2016 6:45 AM
NEW YORK--(BUSINESS WIRE)--
KKR & Co. L.P. (KKR) today reported GAAP net income for the fourth quarter and full year 2015 of $32.3 million and $488.5 million, respectively.
For the full year 2015, After-tax Economic Net Income and After-tax Economic Net Income per adjusted unit were $1.0 billion and $1.21, respectively, compared to $1.5 billion and $1.84 for the full year 2014. After-tax Cash Earnings and After-tax Cash Earnings per adjusted unit eligible for distribution were $1.5 billion and $1.78, respectively, for the full year 2015 compared to $1.9 billion and $2.47 for the full year 2014. Return on equity and cash return on equity were 10% and 14%, respectively, for 2015.
For the quarter ended December 31, 2015, After-tax Economic Net Income and After-tax Economic Net Income per adjusted unit were $70.5 million and $0.08, respectively, compared to $46.0 million and $0.05 for the quarter ended December 31, 2014. After-tax Cash Earnings and After-tax Cash Earnings per adjusted unit eligible for distribution were $168.6 million and $0.21, respectively, for the quarter ended December 31, 2015 compared to $361.2 million and $0.44 for the quarter ended December 31, 2014.
For the full year 2015, KKR's private equity portfolio appreciated 14.2% and the investments on KKR's balance sheet appreciated 3.3% compared to the total return for the S&P 500 and MSCI World indices of 1.4% and -0.3%, respectively.
Book value per adjusted unit was $11.78 as of December 31, 2015 compared to $12.07 per adjusted unit as of December 31, 2014.
Assets Under Management and Fee Paying Assets Under Management were $120 billion and $92 billion, respectively, up 12% and 7% compared to December 31, 2014. (1)
Sentiment: Strong Buy
Nathan's Famous, Inc. Reports Third Quarter Results; Authorizes Increase In Share Buy-back Plan
PR Newswire Nathan's Famous, Inc.
February 5, 2016 8:30 AM
JERICHO, N.Y., Feb. 5, 2016 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the third quarter of its 2016 fiscal year that ended December 27, 2015.
For the fiscal quarter ended December 27, 2015:
Income from operations increased by 17.8% to $4,435,000, as compared to $3,765,000 during the thirteen weeks ended December 28, 2014;
Adjusted EBITDA, as subsequently defined, increased by 12.6% to $4,932,000 as compared to $4,382,000 for the thirteen weeks ended December 28, 2014;
Net income was $432,000, as compared to $2,241,000 for the thirteen weeks ended December 28, 2014;
Earnings per diluted share were $0.10 per share, as compared to $0.49 per share for the thirteen weeks ended December 28, 2014; and
Revenues were $20,564,000, as compared to $22,315,000 during the thirteen weeks ended December 28, 2014.
For the thirty-nine weeks ended December 27, 2015:
Income from operations increased by 20.5% to $20,477,000, as compared to $16,991,000 during the thirty-nine weeks ended December 28, 2014;
Adjusted EBITDA, as subsequently defined, increased by 17.2% to $22,189,000 as compared to $18,936,000 for the thirty-nine weeks ended December 28, 2014;
Net income was $5,589,000, as compared to $10,166,000 for the thirty-nine weeks ended December 28, 2014;
Earnings per diluted share were $1.24 per share, as compared to $2.21 per share for the thirty-nine weeks ended December 28, 2014; and
Revenues were $81,837,000, as compared to $78,772,000 during the thirty-nine weeks ended December 28, 2014.
The Company reported the following:
License royalties increased by 12.8% to $15,406,000 during the thirty-nine weeks ended December 27, 2015, as compared to $13,652,000 during the thirty-nine weeks ended December 28, 2014. During the thirty-nine weeks ended December 27, 2015,
The "Street" has LAD coming in at 1.86 for the quarter that should be reported on or about February 24, 2016! All post's welcome! The "Good Dr's In"!
Sentiment: Strong Buy
Clorox Reports 18 Percent EPS Growth in Q2; Raises Fiscal Year 2016 EPS Outlook
Marketwired The Clorox Company
February 4, 2016 6:30 AM
OAKLAND, CA--(Marketwired - February 04, 2016) - The Clorox Company (CLX) today reported flat sales and 18 percent growth in diluted net earnings per share (EPS) from continuing operations for its second quarter, which ended Dec. 31, 2015. On a currency-neutral basis, second-quarter sales grew 3 percent.
"Our strategy continues to drive profitable growth," said Chief Executive Officer Benno Dorer. "We delivered 18 percent earnings growth supported by strong operational execution and commodity tailwinds, helping to drive gross margin expansion. Importantly, we also delivered sales increases in each of our U.S. segments behind continued strong investments in our brands."
All results in this press release are reported on a continuing operations basis, unless otherwise stated. As previously announced, Corporación Clorox de Venezuela S.A. (Clorox Venezuela) discontinued operations effective Sept. 22, 2014. For the current and year-ago quarters, the results from Clorox Venezuela are included in discontinued operations in the company's financial statements. Some information in this release is reported on a non-GAAP basis. See "Non-GAAP Financial Information" below and the tables toward the end of this press release for more information and reconciliations of key second-quarter fiscal year 2016 and fiscal year 2015 results to the most directly comparable financial measures calculated in accordance with generally accepted accounting principles in the U.S. (GAAP).
Fiscal Second-Quarter Results
Following is a summary of key second-quarter results. All comparisons are with the second quarter of fiscal year 2015, unless otherwise stated.
* $1.14 diluted EPS (18% increase)
* 1% volume growth
* Flat sales
In the second quarter, Clorox delivered earnings from continuing operations of $151 million, or $1.14 diluted EPS, compared to $12
Colgate Beats 4Q15 Earnings Estimates but Misses on Sales Again
Market Realist By Penny Morgan
4 hours ago
Colgate's 4Q15 Results: Earnings Bring Smiles but Sales Dwindle
Colgate’s 4Q15 financial results
Colgate-Palmolive (CL) released its 4Q15 earnings on January 29, 2016. The quarter ended on December 31, 2015. The company’s reported adjusted diluted EPS (or earnings per share) fell 3.9% to $0.73 per share in 4Q15 compared to $0.76 in 4Q14. Revenue was down 7.5% to $3.9 billion.
However, in 4Q15, Colgate-Palmolive came in ahead of consensus Wall Street analyst estimates on earnings after being in line with the estimates for three quarters in a row. Consensus estimates had projected an adjusted diluted EPS of $0.72.
On a currency-neutral basis and excluding the after-tax charges on special items including its 2012 restructuring program, its Venezuela accounting change, and other foreign competition charges, the diluted EPS increased by double digits.
Similarly, Procter & Gamble’s (PG) adjusted EPS fell 1.4% while core adjusted earnings per share increased 9% to $1.04 per share in 4Q15. Excluding the impact of currency exchange headwinds, currency-neutral core EPS increased 21% for the quarter. Adjusted EPS for Kimberly-Clark (KMB) also increased to $1.42 in 4Q15 compared to EPS from continuing operations of $1.35 in 4Q15. Clorox (CLX) is yet to announce its 4Q15 results.
During 4Q15, the company announced that it will no longer include the results of its Venezuelan operations in its consolidated financial statements. As a result of this change in accounting, Colgate recorded an after-tax charge of $1.1 billion, or $1.18 per diluted share, in 4Q15. This change reflected a significant decrease in the availability of US dollars and other government controls.
As a result, Colgate expects that the change in accounting for its Venezuelan operation will impact diluted EPS in 2016. The company expects diluted EPS to be negative $0.10 for 2016. Colgate makes up 0.7% of the iShares Global 100 ETF (IOO).
In the next article, we will look at Colgate’s revenue estimates and the components that accounted for the decrease in revenues in 4Q15.
WisdomTree Announces Fourth Quarter and Year End 2015 Results
WisdomTree Investments, Inc.
3 hours ago
$0.15 diluted net income EPS for the quarter and $0.58 for the year
$17.7 billion total inflows for the year
Declares $0.08 quarterly dividend
NEW YORK, Feb. 05, 2016 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. ( WETF ), an exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager today reported net income of $20.5 million or $0.15 diluted EPS in the fourth quarter. This compares to $9.6 million in the fourth quarter of last year and $23.3 million in the third quarter of 2015. For the year, net income was $80.1 million or $0.58 diluted EPS as compared to $61.1 million or $0.44 diluted EPS for 2014.
WisdomTree CEO and President Jonathan Steinberg said, Our full year 2015 results demonstrate the dynamic growth and overall strength of our business and affirm the strength of our strategy. We achieved nearly $18 billion in inflows globally which drove significant year-over-year revenue growth and earnings for our investors.
Over the course of 2015 we expanded our core U.S. distribution capabilities; investing in our sales, technology and client-facing services and broadening our product set with the launch of 17 new funds in the U.S. across equity, fixed income and alternative strategies. Product strategy and investor-focused innovation remain WisdomTrees core competency and competitive strength. We continue to build out our global ETF footprint with solid progress in Europe, Latin America and Japan.
Mr. Steinberg concluded, In challenging market conditions the benefit of the ETF structure becomes even more apparent. Against a backdrop of $125 billion in mutual fund outflows in 2015, the ETF industry enjoyed $232 billion in net inflows. A focus on transparency, fees and liquidity in investment markets worldwide will continue to fuel this unstoppable trend.
Sentiment: Strong Buy
7:02 am WisdomTree reports EPS in-line, beats on revs (WETF) :
Reports Q4 (Dec) earnings of $0.15 per share, in-line with the Capital IQ Consensus of $0.15; revenues rose 54.2% year/year to $76.5 mln vs the $74.59 mln Capital IQ Consensus.
"In challenging market conditions the benefit of the ETF structure becomes even more apparent. Against a backdrop of $125 billion in mutual fund outflows in 2015, the ETF industry enjoyed $232 billion in net inflows."
Sentiment: Strong Buy
AZZ Inc. Acquires Assets of Nebraska-based Galvanizing Facility from Olson Industries, Inc.
AZZ strengthens capabilities to support galvanizing customers in Nebraska, Iowa and South Dakota markets
PR Newswire AZZ Inc.
February 1, 2016 6:30 AM
AZZ incorporated Watchlist
NYSEWed, Feb 3, 2016 4:02 PM EST
6:44 am AZZ acquires assets of Nebraska-based Galvanizing Facility from Olson Industries; expect Nebraska plant to be accretive to earnings within the first year of operation Briefing.com 2 days 20 hrs ago
AZZ INC Files SEC form 8-K, Regulation FD Disclosure EDGAR Online 7 days ago
FORT WORTH, Texas, Feb. 1, 2016 /PRNewswire/ -- AZZ Inc. (AZZ), a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets, announced today that it has acquired the assets of Alpha Galvanizing Inc., an Atkinson, Nebraska-based business unit of Olson Industries, Inc. Alpha Galvanizing has served steel fabrication customers that manufacture electrical utility poles, agricultural machinery and industrial manufacturing components since 1996.
The newly acquired Nebraska plant is located on a 12-acre site with a 19,500 square foot operating facility with a 46'L x 6'W x 8'D kettle. Alpha Galvanizing was founded to bring quality galvanizing services to the Nebraska market as well as to support Olson Industries' internal galvanizing demand. The new galvanizing plant will operate as AZZ Galvanizing–Nebraska and will complement AZZ's Midwestern locations in Minnesota and Denver, Colorado. This acquisition increases AZZ Galvanizing Services' network of hot-dip galvanizing plants to 43 sites in the United States and Canada.
Tim Pendley, senior vice president and chief operating officer of Galvanizing Services of AZZ Inc., commented,
Sentiment: Strong Buy