The "Street" has AAPL coming in at 4.075 for the quarter that should be reported on or about January 20, 2016!
All post's welcome!
The "Good Dr's In"!
Sentiment: Strong Buy
The "Street" has WDFC coming in at .76 for the quarter that should be reported on January 8th 2016! All post's welcome! The "Good Dr's In"!
4:40 pm Newell Rubbermaid reaffirms 2015 and 2016 outlooks (NWL) :
•Core Sales Growth of 5-6%;
•EPS of $2.14-2.20, Capital IQ consensus $2.18.
2016 Outlook (including Venezuela)
•Core Sales Growth 5-6%;
•EPS $2.35-2.44, Capital IQ consensus $2.40.
Sentiment: Strong Buy
Entertainment Gaming Asia Inc. Reports Third Quarter 2015 Results
- Company Achieves Profitability for the Third Consecutive Quarter of 2015 Driven by Improvements in Both Business Divisions -
PR Newswire Entertainment Gaming Asia Inc.
November 9, 2015 7:30 AM
HONG KONG, Nov. 9, 2015 /PRNewswire/ -- Entertainment Gaming Asia Inc. (EGT) ("Entertainment Gaming Asia" or "the Company"), a gaming company focused on emerging gaming markets in Pan-Asia, today reported operating results for the third quarter ended September 30, 2015 and reviewed recent corporate progress.
.Entertainment Gaming Asia Inc. Logo
Key Financial Metrics
Consolidated revenues of $8.3 million for the third quarter of 2015
Adjusted EBITDA (earnings from continuing operations before interest, taxes, depreciation, amortization and non-cash charges) of $3.4 million for the third quarter of 2015
Net income of $1.4 million for the third quarter of 2015
Cash balance of $25.3 million and zero debt as of September 30, 2015
Third Quarter of 2015 Financial Performance
The Company's third quarter of 2015 consolidated revenue was $8.3 million, an increase of 88% compared to $4.4 million in the third quarter of 2014 due to increases in both the gaming operations and gaming products business divisions.
Gaming operations revenue was $4.5 million for the third quarter of 2015, an increase of 13% compared to $4.0 million in the third quarter of 2014. Average consolidated daily net win per unit was $120 for the third quarter of 2015, an increase of 20% compared to $100 in the third quarter of 2014. The increases were primarily due to improvements in the Cambodia operations partially offset by a decline in the Philippines operations.
Cambodia average daily net win per unit was $152 for the third quarter of 2015, an increase of 33% compared to $114 in the prior year period primarily due to improved performance at NagaWorld.
Sentiment: Strong Buy
Nathan's Famous, Inc. Reports Second Quarter Results
Nathan's Famous, Inc.
November 4, 2015 8:30 AM
JERICHO, N.Y., Nov. 4, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the second quarter of its 2016 fiscal year that ended September 27, 2015.
For the fiscal quarter ended September 27, 2015:
•Income from operations increased by 30.7% to $8,426,000, as compared to $6,447,000 during the thirteen weeks ended September 28, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 26.7 % to $9,006,000 as compared to $7,106,000 for the thirteen weeks ended September 28, 2014;
•Net income was $2,847,000, as compared to $3,854,000 for the thirteen weeks ended September 28, 2014;
•Earnings per diluted share were $0.64 per share, as compared to $0.84 per share for the thirteen weeks ended September 28, 2014; and
•Revenues increased by 6.1% to $30,619,000, as compared to $28,872,000 during the thirteen weeks ended September 28, 2014.
For the twenty-six weeks ended September 27, 2015:
•Income from operations increased by 21.3% to $16,042,000, as compared to $13,226,000 during the twenty-six weeks ended September 28, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 18.6% to $17,257,000 as compared to $14,553,000 for the twenty-six weeks ended September 28, 2014;
•Net income was $5,157,000, as compared to $7,925,000 for the twenty-six weeks ended September 28, 2014;
•Earnings per diluted share were $1.14 per share, as compared to $1.73 per share for the twenty-six weeks ended September 28, 2014; and
•Revenues increased by 8.5% to $61,273,000, as compared to $56,457,000 during the twenty-six weeks ended September 28, 2014.
Sentiment: Strong Buy
Jewett-Cameron Announces Fiscal 2015 Financial Results
Jewett-Cameron Trading Company Ltd.
November 6, 2015 4:20 PM
NORTH PLAINS, Ore., Nov. 6, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for its fourth quarter and fiscal year ended August 31, 2015.
For the fiscal year ended August 31, 2015 Jewett-Cameron reported net income of $1,773,971, or $0.69 per share, on sales of $42.24 million, compared to net income of $1,858,453, or $0.63 per diluted share, on sales of $42.34 million, reported for fiscal 2014.
Sales for the fourth quarter of fiscal 2015 totaled $11.5 million compared to sales of $9.3 million for the fourth quarter of fiscal 2014. Net income was $701,524, or $0.27 per diluted share, compared to net income of $352,147, or $0.12 per diluted share, in the fourth quarter of fiscal 2014.
"The extended winter weather across much of the US in 2015 slowed the buying of lawn and garden products and adversely affected our results. The West Coast port slowdowns also delayed the delivery of our products from manufacturers and resulted in sales order delays and higher freight costs" said CEO Don Boone. "However, we launched several new products beginning in the 3rd quarter which were well received by the marketplace, particularly by our established customer base".
As of August 31, 2015, the Company's cash position was $4.4 million, and currently there is no borrowing against its $3.0 million line of credit. During fiscal 2015, the Company repurchased and cancelled a total of 227,798 common shares at a total cost of $2,448,542, which represents an average price of $10.75. The Company's most recent share repurchase plan was terminated by the Board of Directors on July 17, 2015. The Board of Directors will consider implementing new share repurchase plans in the future as an effective use of the Company's cash position.
Sentiment: Strong Buy
Utah Medical Products, Inc. Reports Financial Performance for Third Quarter 2015
Utah Medical Products, Inc.
October 22, 2015 9:00 AM
SALT LAKE CITY, UT--(Marketwired - Oct 22, 2015) - In the third calendar quarter (3Q) and first nine months (9M) of 2015, Utah Medical Products, Inc.'s (NASDAQ: UTMD) changes in income statement results compared to the same time periods in the prior calendar year were as follows:
(July - September) 9M
(January - September)
Sales: (7%) (1%)
Gross Profit: (2%) (2%)
Operating Income: - (1%)
Net Income: + 8% + 3%
Earnings Per Share: + 8% + 3%
Currencies in this report are denoted as $ or USD = U.S. Dollars; AUD = Australia Dollars; GBP = UK Pound Sterling; and EUR = Euros. Currency amounts throughout this report are in thousands, except per share amounts and where noted.
In constant currency terms, 3Q 2015 sales were only 3% lower, and 9M 2015 sales were 3% higher than in the same periods in 2014, where "constant currency" means using the same foreign currency exchange (FX) rates as in the previous year when converting sales invoiced in foreign currency to USD. In other words, the stronger USD in 2015 continues to reduce UTMD total consolidated sales by about 4%.
Profit margins in 3Q 2015 and 9M 2015 compared to 3Q 2014 and 9M 2014 were as follows:
(Jul - Sep) 3Q 2014
(Jul - Sep) 9M 2015
(Jan - Sep) 9M 2014
(Jan - Sep)
Gross Profit Margin (gross profits/ sales): 61.1% 57.8% 59.8% 59.9%
Operating Income Margin (operating profits/ sales): 40.2% 37.3% 38.7% 38.4%
Net Income Margin (profit after taxes/ sales): 30.6% 26.3% 28.2% 27.0%
According to CEO Kevin Cornwell, "In 3Q 2015, UTMD achieved outstanding profitability in light of the continued FX headwinds. Opposite to the previous year, an improvement in our 2015 domestic business is compensating for weaker international performance. Given the leveraged negative effect of the stronger USD on profits, I believe that achieving 9M profit margins at or better than in the previous year, which is certainly better than we expected, represents excellent operating performance. Except for the continued weaker than expected top line due to the much stronger than expected USD relative to other currencies, UTMD remains on target with its beginning of year projections for the full year of 2015 in all other income statement measures."
Earnings per share for the most recent twelve months (TTM) were $3.08. Excluding the noncash effects of depreciation, amortization of intangible assets and stock option expense, TTM consolidated earnings before taxes, excluding the remeasured bank balance currency loss and interest expense, were $19,477. Excluding the noncash effects of depreciation, amortization of intangible assets and stock option expense, 9M 2015 consolidated earnings before taxes, excluding the remeasured bank balance currency loss, were $14,348 compared to $14,565 in 9M 2014.
Income Statement Summary.
UTMD's FX rates for income statement purposes are transaction-weighted averages. The average rates from the applicable foreign currency to USD during 3Q 2015 and 9M 2015 compared to the same periods in 2014 follow:
3Q 15 3Q 14 Change 9M 15 9M 14 Change
GBP 1.547 1.669 ( 7.3%) 1.530 1.669 ( 8.3%)
EUR 1.121 1.310 (14.4%) 1.105 1.356 (18.5%)
AUD 0.723 0.926 (21.9%) 0.760 0.920 (17.3%)
Sales Weighted Average: (12.5%) (12.6%)
3Q 2015 and 9M 2015 sales invoiced in foreign currencies would have been $414 and $1,286 higher, respectively, using 2014 FX rates (constant currency). UTMD estimates that the negative impact of 2015 FX rates compared to 2014 FX rates will be about $1.7 million lower sales, representing a 4.1% decline in total consolidated sales.
Domestic sales in 3Q 2015 were up 4% compared to 3Q 2014. International sales in 3Q were down 16%, from a combination of FX rate differences and fluctuation in international distributor order patterns. For 9M 2015 compared to 9M 2014, domestic sales were up 6% and international sales down 8%.
The higher 3Q 2015 gross profit margin (GPM) was the combined result of a more favorable product mix, as 3Q 2015 sales of low margin blood pressure monitoring (BPM) kits to international distributors were $447 lower than in 3Q 2014, and distribution mix, as domestic sales to end users were higher while international sales to distributors at wholesale prices were lower. In addition, UTMD Ltd (Ireland subsidiary) had a full quarter of manufacturing and shipping Filshie Sterishot kits, compared to only a partial quarter in 3Q 2014 when the in-house manufacturing of Sterishot began. For 9M 2015 compared to 9M 2014, better absorption of manufacturing overheads in Utah and Ireland due to higher production activity almost offset the negative FX impacts on GP in Ireland, the UK and Australia. Consolidated operating expenses were $115 lower in 3Q 2015 than in 3Q 2014, and $242 lower in 9M 2015 than in 9M 2014, primarily due to lower USD-denominated operating expenses of foreign subsidiaries. The higher 3Q 2015 and 9M 2015 operating income margins (OPMs) resulted from the FX-induced lower operating expenses combined with, in the case of 3Q 2015, a significantly higher GPM. The higher net income margins (NPMs) in both 3Q and 9M periods of 2015 compared to 2014 were the result of a combination of higher OPMs, substantially lower interest expense, a lower income tax rate in the UK, and a shift of pretax profits to Ireland, the sovereignty with the lowest corporate income tax rate.
Earnings per share (EPS) benefited slightly from continued open market purchases of UTMD outstanding shares, 9,000 shares during 3Q 2015 and 13,000 shares in 9M 2015.
Sales. U.S. domestic sales (obviously in constant USD currency) were 4% higher in 3Q 2015 than in 3Q 2014, and 6% higher in 9M 2015 than in 9M 2014. Sales of Femcare's Filshie Clip System devices to CooperSurgical Inc. (CSI) for distribution in the U.S. were 11% higher in 3Q 2015 compared to 3Q 2014, and 13% higher in 9M 2015 compared to 9M 2014. Filshie Clip System sales to CSI were 16% of total domestic sales in 3Q 2015 compared to 15% in 3Q 2014, and 23% in 9M 2015 compared to 21% in 9M 2014. Direct sales of UTMD devices to medical facilities were 1% higher in 3Q 2015 compared to 3Q 2014, and 2% higher in 9M 2015 compared to 9M 2014. U.S. domestic OEM sales were 11% higher in 3Q 2015 compared to 3Q 2014, and 15% higher in 9M 2015 compared to 9M 2014.
International sales were 16% lower in 3Q 2015 than in 3Q 2014, and 8% lower in 9M 2015 than in 9M 2014. The lower 3Q sales were due both to the unfavorable FX rates and to less favorable economic conditions internationally. Constant currency international sales were 9% lower in 3Q 2015 than in 3Q 2014, but the same in 9M 2015 as in 9M 2014. Sixty-five percent of the lower sales in 3Q 2015 compared to 3Q 2014 was due to an uneven order pattern of two large distributors of BPM kits, which combined for $349 lower purchases in constant currency terms. UK subsidiary trade sales were 28% of total international sales in 3Q 2015 compared to 42% in 3Q 2014, and 30% in 9M 2015 compared to 44% in 9M 2014. Australia subsidiary sales were 13% of total international sales in 3Q 2015 compared to 14% in 3Q 2014, and 13% in 9M 2015 compared to 15% in 9M 2014. FX rates for Australia were weaker than the other currencies. Ireland subsidiary trade sales were 30% of total international sales in 3Q 2015 compared to 22% in 3Q 2014, and 28% in 9M 2015 compared to 17% in 9M 2014. The transfer of Sterishot to Ireland increased Ireland's share of international sales as it decreased UK's share.
Because of the lower international and higher domestic sales, international sales were 50% of total consolidated sales in 3Q 2015 compared to 55% in 3Q 2014, and 49% in 9M 2015 compared to 52% in 9M 2014. On the flip side, U.S. domestic sales were 50% of total consolidated sales in 3Q 2015 compared to 45% in 3Q 2014, and 51% in 9M 2015 compared to 48% in 9M 2014.
In product categories, 3Q 2015 blood pressure monitoring device/ components (BPM) sales were down 15%, neonatal device sales were the same, gynecology/ electrosurgery device sales were down 7% and obstetrics device sales were down 5% compared to 3Q 2014. For 9M 2015 compared to 9M 2014 global sales in product categories, BPM sales were up 6%, neonatal device sales were up 9%, gynecology/ electrosurgery device sales were down 6% and obstetrics device sales were down 1%. These product category comparisons include the negative impact of a stronger USD, i.e. are in GAAP USD terms, not constant currency.
Gross Profit. UTMD's consolidated GPM, gross profits divided by sales, was 61.1% in 3Q 2015 compared to 57.8% in 3Q 2014. The GPM in 9M 2015 was 59.8% compared to 59.9% in 9M 2014. The substantially higher GPM in 3Q 2015 was the combined result of a more favorable product mix, as 3Q 2015 sales of low margin blood pressure monitoring (BPM) kits to international distributors were $441 lower than in 3Q 2014, and distribution mix, as domestic sales to end users were higher while international sales to distributors at wholesale prices were lower. UTMD Ltd (Ireland subsidiary) had a full quarter of manufacturing and directly shipping Filshie Sterishot kits to international users, in addition to intercompany sales to UTMD's UK and Australia subsidiaries, compared to 3Q 2014 when the Ireland in-house manufacturing of Sterishot had just begun. In the U.S., self-insured employee health plan costs were $95 lower than in 3Q 2014. This one-time savings equates to one full percentage point in the 3Q 2015 consolidated GPM. For 9M 2015 compared to 9M 2014, better absorption of manufacturing overheads in Utah and Ireland due to higher production activity almost offset the negative FX impacts on GP in Ireland, the UK and Australia.
Operating Income. Operating income was approximately the same for both 3Q and 9M periods in 2015 compared to 2014, despite lower sales and pressure on profit margins caused by the substantial change in FX rates. UTMD's 3Q and 9M 2015 OPM, operating income divided by sales, was 40.2% and 38.7% respectively, compared to 37.3% and 38.4% in the same periods of 2014. The higher 3Q 2015 OPM was the result both of a substantially higher GPM and $115 lower operating expenses than in 3Q 2014. The lower operating expenses were the result of FX rates, where a stronger USD was favorable in this instance, as the change in FX rates lowered foreign subsidiary operating expenses when converting to USD. For example, the amortization of Femcare identifiable intangible assets (IIA), a noncash expense included in UK subsidiary general and administrative (G&A) expense, was GBP 404 in both 3Q 2015 and 3Q 2014. However, in USD, the amortization of IIA expense was $49 lower in 3Q 2015 compared to 3Q 2014, representing 43% of the $115 lower 3Q period-to-period operating expense difference. Consolidated operating expenses in 9M 2015 were $242 lower than in 9M 2014. The noncash amortization expense of IIA was $167 lower in 9M 2015 compared to 9M 2014, representing 69% of the difference, even though the GBP expense was the same. The difference in USD denominated amortization of IIA added a half percentage point to UTMD's 9M 2015 OPM. In 9M 2015, the noncash amortization expense of IIA represented 29% of UTMD's total operating expenses compared to 30% in 9M 2014.
As a percentage of sales, total consolidated operating expenses -- comprised of sales and marketing (S&M) expenses, product development (R&D) expenses and G&A expenses -- were 20.9% in 3Q 15 compared to 20.5% in 3Q 2014, and 21.1% in 9M 2015 compared to 21.5% in 9M 2014. Excluding the amortization of Femcare IIA, consolidated operating expenses in 3Q 2015 were 14.6% of sales compared to 14.2% in 3Q 2014. Excluding the amortization of Femcare IIA, consolidated operating expenses in both 9M 2015 and 9M 2014 were 15.0% of sales. One of the key metrics that separates UTMD performance from other companies is that UTMD tightly manages its operating expenses, primarily by having a flat organizational structure which is fully integrated across all subsidiaries on a cross-functional real-time basis. This is allowed by the experience and long term tenure of UTMD's key employees.
Earnings Before Tax (EBT). With operating income about the same, EBT in both 3Q and 9M 2015 improved compared to the same periods in 2014 as a result of significant changes in non-operating expense/ income. Non-operating income in 3Q 2015 was $127 compared to non-operating expense of $107 in 3Q 2014, an increase in contribution to EBT of $234. The change was comprised of 1) There was no interest expense in 3Q 2015 compared to $68 in 3Q 2014; 2) In 3Q 2015, there was a $91 gain in remeasured foreign currency bank balances compared to a $66 loss in 3Q 2014, both primarily on EUR held in the UK, resulting in an increase in contribution to EBT of $157; and 3) a net $9 increase in income from miscellaneous items including royalties, interest earned, and rent from underutilized property, less bank fees. Non-operating expense in 9M 2015 was $126 compared to non-operating expense of $300 in 9M 2014, an increase in contribution to EBT of $174. The change was comprised of 1) $168 lower interest expense; 2) a larger net $3 loss in remeasured foreign currency bank balances; and 3) a $9 increase in net non-operating income from miscellaneous items including royalties, interest earned, and rent from underutilized property, less bank fees. EBT margins in 3Q 2015 and 9M 2015 were 41.5% and 38.3%, respectively, compared to 36.3% and 37.4% in the same periods of 2014.
Net Income. UTMD's net income increased 8% in 3Q 2015 and 3% in 9M 2015 compared to the same periods in 2014. Net profit margins (NPMs), net income divided by sales, improved to 30.6% in 3Q 2015 compared to 26.3% in 3Q 2014, and 28.2% in 9M 2015 compared to 27.0% in 9M 2014. UTMD's consolidated average income tax provision rate was 26.2% of EBT in 3Q 2015 and 26.3% in 9M 2015, compared to 27.6% in 3Q 2014 and 27.8% in 9M 2014. As of April 1, 2015, the UK corporate income tax rate was reduced to 20% from 21%. A shift of EBT proportion toward Ireland, the lowest tax rate sovereignty, accounted for the remainder of the one and half percentage point reduction in consolidated income tax provision rate.
Earnings per share (EPS). EPS in 3Q 2015 increased 5.9 cents (8%) compared to 3Q 2014 as a result of the 8% increase in net income, despite 7% lower revenues. For 9M 2015, EPS increased 6.9 cents (3%) compared to 9M 2014 also due to the 3% increase in net income. Diluted shares used to calculate 3Q 2015 EPS were 3,768,148 compared to 3,763,972 in 3Q 2014. UTMD's repurchase of 9,000 of its shares in the open market during 3Q 2015 at an average cost, including commissions and fees, of $51.96 per share ($468 total) helped offset the exercise of employee options. The Company repurchased 4,083 of its shares in 3Q 2014 at an average cost, including commissions and fees, of $48.70 per share ($199 total). Diluted shares used to calculate 9M 2015 EPS declined to 3,771,926 from 3,774,024 in 9M 2014. UTMD repurchased 13,000 of its shares in the open market during 9M 2015 at an average cost, including commissions and fees, of $52.54 per share ($683 total) compared to repurchasing 21,427 of its shares in 9M 2014 at an average cost, including commissions and fees, of $47.47 per share ($1,017 total). The decrease in 9M 2015 was due to a higher average share price and exercises of employee/ director options, offset by share repurchases. The Company remains interested in enhancing shareholder value by repurchasing its shares when they seem undervalued. The closing share price at the end of 3Q 2015 was $53.87 compared to $60.05 at the end of calendar year 2014, and $48.76 at the end of 3Q 2014.
UTMD's dilution from unexercised option shares added to actual weighted average outstanding shares for purposes of calculating eps was 14,649 in 3Q 2015 compared to 22,564 in 3Q 2014, and 19,020 in 9M 2015 compared to 26,980 in 9M 2014. The actual number of outstanding shares at the end of 3Q 2015 was 3,749,655 which included 3Q 2015 employee option exercises of 1,431 shares. The total number of outstanding unexercised options at September 30, 2015 was 64,220 shares at an average exercise price of $38.60/ share, including shares awarded but not vested. This compares to 100,500 option shares outstanding at the end of 3Q 2014 at an average exercise price of $35.94/ share. To date in 2015, no option shares have been awarded. During 2014, 39,000 option shares were awarded to 70 employees at an average exercise price of $49.22.
Excluding the noncash effects of depreciation, amortization of intangible assets and stock option expense, 3Q 2015 consolidated earnings before taxes, excluding the remeasured bank balance currency gain or loss, were $4,857 compared to $4,906 in 3Q 2014.
Excluding the noncash effects of depreciation, amortization of intangible assets and stock option expense, 9M 2015 consolidated earnings before taxes, excluding the remeasured bank balance currency loss, were $14,348 compared to $14,565 in 9M 2014.
UTMD's September 30, 2015 balance sheet compared with its December 31, 2014 balance sheet demonstrates continued strengthening during 2015. The $26,934 debt incurred in March 2011 to help finance the Femcare acquisition was repaid in full in early 2015. In the absence of need for further debt repayments, UTMD's cash balances have grown rapidly. As of end of year 2014, UTMD's cash and investment balances exceeded its $4.9 million debt balance by $14.5 million. As of September 30, 2015, cash and investment balances were $21.7 million with no debt. UTMD's financial performance has also allowed continuing to pay quarterly cash dividends to shareholders at an annual rate of $3.8 million while continuing to opportunistically repurchase shares in the open market and make capital expenditures required to maintain property and equipment in good working order.
UTMD's 9M 2015 capital expenditures for property and equipment were $310 lower than depreciation of fixed assets. UTMD's working capital increased $5,862 from the end of 2014.
Key balance sheet changes as of September 30, 2015 from the end of 2014:
Cash & Investments: +2.3
Inventory: ( 0.4)
Intangible Assets (net): ( 2.9)
Total Current Liabilities: ( 3.2)
Notes Payable: ( 4.9)
Shareholders' Equity: +3.8
Financial ratios as of September 30, 2015 follow:
1) Current Ratio = 5.6
2) Days in Trade Accounts Receivable (based on 3Q 2015 sales activity) = 42
3) Average Inventory Turns (based on 3Q 2015 CGS) = 3.5
4) Year-to-Date ROE = 17% (prior to dividend payments)
= 12% (after accrual of shareholder dividends)
Risk factors that could cause results to differ materially in future quarters include clinical acceptance of products, timing of regulatory approvals of new products and of distributing existing products in new geographical areas, government intervention in the health care marketplace, distribution restrictions by anticompetitive hospital administrative agreements, foreign currency exchange rates, the Company's ability to efficiently manufacture, market, and sell its products globally, among other factors that have been outlined in UTMD's public disclosure filings with the SEC. The SEC Form 10-Q for 3Q 2015 will be filed with the SEC by November 10.
Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in hundreds of countries around the world as the standard for obtaining optimal long term outcomes for their patients. For more information about Utah Medical Products, Inc., visit UTMD's website at www.utahmed.com.
Utah Medical Products, Inc.
INCOME STATEMENT, Third Quarter (3 months ended September 30)
(in thousands except earnings per share):
3Q 2015 3Q 2014 Percent Change
Net Sales $ 9,945 $ 10,717 (7.2 %)
Gross Profit 6,079 6,196 (1.9 %)
Operating Income 4,000 4,002 -
Income Before Tax 4,127 3,895 + 5.9 %
Net Income 3,047 2,822 + 8.0 %
Earnings Per Share $ 0.809 $ 0.750 + 7.9 %
Shares Outstanding (diluted) 3,768 3,764
INCOME STATEMENT, Three Quarters (9 months ended September 30)
(in thousands except earnings per share):
9M 2015 9M 2014 Percent Change
Net Sales $ 30,575 $ 31,035 (1.5 %)
Gross Profit 18,290 18,595 (1.6 %)
Operating Income 11,845 11,907 (0.5 %)
Income Before Tax 11,719 11,607 + 1.0 %
Net Income 8,633 8,378 + 3.0 %
Earnings Per Share $ 2.289 $ 2.220 + 3.1 %
Shares Outstanding (diluted) 3,772 3,774
(in thousands) (unaudited)
SEP 30, 2015 (unaudited)
JUN 30, 2015 (audited)
DEC 31, 2014 (unaudited)
SEP 30, 2014
Cash & Investments $ 21,675 $ 19,228 $ 19,332 $ 18,304
Accounts & Other Receivables, Net 5,493 5,613 4,703 4,648
Inventories 4,449 4,473 4,872 4,871
Other Current Assets 689 662 768 755
Total Current Assets 32,306 29,976 29,675 28,578
Property & Equipment, Net 7,568 7,746 8,236 8,467
Intangible Assets, Net 40,281 42,208 43,165 45,240
Total Assets $ 80,155 $ 79,930 $ 81,076 $ 82,285
Liabilities & Shareholders' Equity
A/P & Accrued Liabilities $ 5,741 $ 5,333 $ 5,077 $ 5,162
Current Portion of Notes Payable -0- -0- 3,894 3,995
Total Current Liabilities 5,741 5,333 8,971 9,157
Notes Payable (excluding current portion) -0- -0- 973 1,998
Deferred Tax Liability - Intangible 5,039 5,370 5,581 5,945
Deferred Revenue and Income Taxes 1,022 1,034 995 963
Shareholders' Equity 68,353 68,193 64,556 64,222
Total Liabilities & Shareholders' Equity $ 80,155 $ 79,930 $ 81,076 $ 82,285
WisdomTree Investments (WETF) Q3 Earnings Up Year Over Year
By Zacks Equity Research
October 30, 2015 8:50 AM
WisdomTree Enters Commodities ETF Arena
Benzinga 18 hrs ago
WISDOMTREE INVESTMENTS, INC. Files SEC form 8-K/A, Results of Operations and Financial Condition, Financial Statement
EDGAR Online 19 hrs ago
Have you been eager to see how WisdomTree Investments, Inc. WETF performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based exchange-traded fund (‘ETF’) and exchange-traded product (‘ETP’) sponsor and asset manager’s earnings release this morning:
Earnings Jump Year over Year
WisdomTree came out with earnings per share of 17cents, significantly above the prior year quarter earnings of 8 cents per share. Notably, the reported figure came in line with the Zacks Consensus Estimate.
Results were primarily aided by robust revenue growth, partially offset by higher expenses.
How Was the Estimate Revision Trend?
WisdomTree Announces Third Quarter 2015 Results
WisdomTree Investments, Inc.
4 hours ago
Net Income Up 119.2% Year-Over-Year to $23.3 Million or Diluted EPS $0.17
Revenues Up 71.4% Year-Over-Year to $80.8 Million
U.S. Pre-Tax Margin of 52%; Consolidated Pre-Tax Margin of 49%
Declares $0.08 Quarterly Dividend and $0.25 Special Dividend
NEW YORK, Oct. 30, 2015 (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 $23.3 million for the third quarter of 2015 or $0.17 per share on a fully diluted basis. This compares to $10.6 million in the third quarter of 2014 and $24.2 million for the second quarter of 2015.
WisdomTree CEO and President Jonathan Steinberg said, WisdomTree generated strong financial results and achieved a solid third quarter despite a challenging market environment. These results reflect our overall financial strength and demonstrate the profitable, scalable and highly efficient nature of our operating model.
Mr. Steinberg continued, WisdomTree is ideally positioned for the future of asset management, as we continue to enhance our global ETF platform through investments in headcount, product and client-facing services. The structural shift to passive investing and ETFs is continuing, the appetite for investment innovations like Smart Beta and Currency Hedging is growing and a decisive move toward greater transparency in financial products and advice is more pronounced than ever. These are all trends that will continue to be advantageous to WisdomTree going forward.
Mr. Steinberg concluded, In reflection of our growing financial resources, we are pleased to further enhance our capital management program through the addition of a $0.25 special dividend. We first instituted a $0.08 regular quarterly dividend and a $100 million share buyback program in t
Sentiment: Strong Buy
Newell Rubbermaid Reports Strong Third Quarter Results
5.9% Core Sales Growth and Normalized EPS of $0.62
3.1% Net Sales Growth and Reported EPS of $0.50
Increases 2015 Core Sales Guidance and Reaffirms 2015 Normalized EPS
Provides Initial Outlook for 2016
Third Quarter Executive Summary
• 5.9 percent core sales growth, which excludes a 340 basis point net contribution from acquisitions and planned/completed divestitures and a 620 basis point negative impact from foreign currency; 3.1 percent net sales growth
• 39.5 percent normalized gross margin, a 30 basis point improvement compared to the prior year; 39.1 percent reported gross margin, a 30 basis point improvement compared to the prior year
• 15.2 percent normalized operating margin, a 90 basis point improvement compared to the prior year; 12.2 percent reported operating margin, a 50 basis point improvement compared to the prior year
• $0.62 normalized EPS compared to $0.58 in the prior year, a 6.9 percent increase despite a $0.14 negative impact from foreign currency; $0.50 reported EPS compared to $0.44 in the prior year, a 13.6 percent increase
• Acquisition of Elmer’s Products, Inc. was completed in October
• Repurchased 1.0 million shares at a cost of $42.3 million
• Increased core sales growth guidance to 5.0 to 5.5 percent and reaffirmed 2015 guidance for normalized earnings per share of $2.14 to $2.20
• Provided 2016 financial outlook for core sales growth of 5 to 6 percent and normalized EPS of $2.35 to $2.44. Excluding Venezuela, core sales growth of 4 to 5 percent and normalized EPS of $2.21 to $2.30
Newell Rubbermaid Inc.
30 minutes ago
Newell Rubbermaid Inc. (NWL) announced its third quarter 2015 financial results today.
“We delivered another very good quarter with core sales growth of 5.9 percent driven by strengthened innovation, sustained high investment in our brands and outstanding
Lithia Reports Adjusted EPS of $2.03 for Third Quarter of 2015; Revenues Increase 61%
Declares $0.20 per Share Dividend for Third Quarter
October 21, 2015 6:55 AM
MEDFORD, OR--(Marketwired - Oct 21, 2015) - Lithia Motors, Inc. ( NYSE : LAD ) reported adjusted net income of $53.6 million for the third quarter of 2015, the highest quarterly net income in company history and a 54% increase over the prior year period.
2015 third quarter adjusted net income was $2.03 per diluted share. This compares to 2014 third quarter adjusted net income of $34.9 million, or $1.32 per diluted share.
Unadjusted net income for the third quarter of 2015 was $43.4 million, or $1.64 per diluted share, compared to $34.5 million, or $1.31 per diluted share, for the third quarter of 2014. As shown in the attached non-GAAP reconciliation tables, the 2015 third quarter adjusted results exclude a $0.39 non-core net charge related to a previously announced employee transition agreement partially offset by an equity investment. The 2014 third quarter adjusted results exclude a $0.01 non-core net charge related to acquisition expenses partially offset by a non-core benefit resulting from a tax attribute.
Third quarter 2015 revenue increased $788 million, or 61%, to $2.1 billion from $1.3 billion for the third quarter of 2014.
Third Quarter-over-Quarter Operating Highlights:
• Total same store sales increased 12%
• New vehicle same store sales increased 11%
• Used vehicle retail same store sales increased 13%
• Service, body and parts same store sales increased 10%
• Same store F&I per unit increased $71 to $1,274
• Adjusted SG&A expense as a percentage of gross profit was 66.0%
"Our third quarter earnings were the highest in company history," said Bryan DeBoer, President and CEO. "Same store sales in all four business lines grew by double digits, led by a 13% increase in used vehicle sales.
Sentiment: Strong Buy
DENTSPLY International Reports Record Third Quarter 2015 Results
DENTSPLY International Inc.
3 hours ago
· Adjusted earnings of $0.66 per diluted share, up 6.5% vs. $0.62 in prior year period
· Adjusted operating margin for the third quarter expanded 220 bps to 20.9%
· Revenue excluding precious metals up 1.4% in constant currency in the third quarter; Fx headwind 9.1%
· Operating cash flow growth of 8.3% in the third quarter
York, PA - October 28, 2015 - DENTSPLY International Inc. (XRAY) today announced sales and earnings for the three and nine months ended September 30, 2015.
Third Quarter Results
Net sales in the third quarter of 2015 of $648.9 million decreased 8.4% compared to $708.2 million in the third quarter of 2014. Net sales, excluding metals content, of $629.3 million decreased 7.7% compared to $681.6 million in the third quarter of 2014. Revenue for the three months, excluding precious metals, grew 1.4% on a constant currency basis, offset by a 9.1% headwind from foreign currency translation.
Net income attributable to DENTSPLY International for the third quarter of 2015 was $84.5 million, or $0.59 per diluted share, compared to $75.3 million, or $0.52 per diluted share in the second quarter of 2014. On an adjusted basis, excluding certain items, net earnings per diluted share grew 6.5% to $0.66 compared to $0.62 in the third quarter of 2014. A reconciliation of the adjusted earnings per share, a non-US GAAP measure, to earnings per share calculated on a US-GAAP basis is provided in the attached table.
Nine months 2015 Results
Net sales for the first nine months of 2015 of $2.0 billion decreased 9.1% compared to $2.2 billion for the first nine months of 2014. Net sales for the nine months, excluding precious metals content, of $1.9 billion decreased 7.9% compared to $2.1 billion in the first nine months of 2014.
8:00 am Dentsply beats by $0.03, misses on revs; increases FY15 EPS outlook (XRAY) :
•Reports Q3 (Sep) earnings of $0.66 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.63; revenues fell 8.4% year/year to $648.9 mln vs the $666.95 mln Capital IQ Consensus.
•Co issues in-line guidance for FY15, sees EPS of $2.58-2.64, excluding non-recurring items, vs. $2.59 Capital IQ Consensus Estimate.
•:Looking ahead, we are now poised to increase investment in growth opportunities, while also improving margins further, both important elements in driving shareholder value. Based on the results through nine months and our outlook for the balance of the year, we are increasing full-year 2015 adjusted earnings guidance to the range of $2.58 to $2.64 per diluted share."
4:26 pm KKR misses by $0.07, misses on revs; announces $500 mln buyback; sets quarterly distribution at $0.16/unit (KKR) :
•Reports Q3 (Sep) ENI of ($0.37) per share, $0.07 worse than the Capital IQ Consensus of ($0.30) -- note economic net income is based on quarterly marks are not the most important metric; revenues fell 45.3% year/year to $188.6 mln vs the $257.49 mln Capital IQ Consensus.
•Total distributable earnings was $349.1 million and $1,357.1 million for the quarter and nine months ended September 30, 2015, respectively, down from $504.8 million and $1,652.6 million in the comparable periods of 2014.
•Book value was $10.2 billion on a total reportable segment basis as of Sept 30, 2015 or $12.01 per adjusted unit.
Sentiment: Strong Buy
The "Street" has XRAY coming in at .68 for the quarter that should be reported on or about October 28, 2015! All post's welcome! The "Good Dr's In"!
KKR & Co. L.P. Announces Third Quarter 2015 Results
KKR adopts a $500 million unit repurchase program
KKR to change distribution policy to fixed $0.16 per common unit per quarter beginning with the fourth quarter of 2015
GAAP net income (loss) attributable to KKR & Co. L.P. was $(190.6) million and $456.2 million for the quarter and nine months ended September 30, 2015, respectively, down from $89.9 million and $478.2 million in the comparable periods of 2014.
Total distributable earnings was $349.1 million and $1,357.1 million for the quarter and nine months ended September 30, 2015, respectively, down from $504.8 million and $1,652.6 million in the comparable periods of 2014.
Distribution per common unit was $0.35 and $1.23 for the quarter and nine months ended September 30, 2015, respectively, down from $0.45 and $1.55 in the comparable periods of 2014.
Economic net income (loss) (“ENI”) was $(286.0) million and $1,153.3 million for the quarter and nine months ended September 30, 2015, respectively, down from $508.7 million and $1,640.6 million in the comparable periods of 2014.
ENI after taxes per adjusted unit was $(0.37) and $1.13 for the quarter and nine months ended September 30, 2015, respectively, down from $0.50 and $1.81 in the comparable periods of 2014.
Book value was $10.2 billion on a total reportable segment basis as of September 30, 2015 or $12.01 per adjusted unit.
Return on equity and cash return on equity were 9.6% and 15.8%, respectively on a trailing twelve month basis.
Assets under management (“AUM”) and fee paying assets under management (“FPAUM”) totaled $98.7 billion and $82.9 billion, respectively, as of September 30, 2015.
KKR & Co. L.P.
9 minutes agoNEW YORK--(BUSINESS WIRE)--
KKR & Co. L.P. (KKR) today reported its third quarter 2015 results.
Sentiment: Strong Buy
Northern Trust Corporation Reports Third Quarter Net Income of $234.6 Million, Earnings Per Common Share of $0.96 Increased 14%
Total Revenue Increased 7% over the Prior-Year Quarter
Returned $225.5 Million in Capital to Common Stockholders
Northern Trust Corporation
October 21, 2015 7:30 AM
Northern Trust Corporation today reported third quarter net income per diluted common share of $0.96, compared to $0.84 in the third quarter of 2014 and $1.10 in the second quarter of 2015. Net income was $234.6 million, compared to $204.5 million in the prior-year quarter and $269.2 million in the prior quarter. Return on average common equity was 10.9%, compared to 10.1% in the prior-year quarter and 12.8% in the prior quarter.
The prior quarter included a pre-tax gain on the sale of 1.0 million Visa Inc. Class B common shares totaling $99.9 million, voluntary cash contributions to certain constant dollar net-asset-value (NAV) funds of $45.8 million and the impairment of the residual value of certain aircraft under leveraged lease agreements of $17.8 million. Excluding these items, net income per diluted common share, net income and return on average common equity for the prior quarter were $1.01, $246.7 million and 11.8%, respectively.
We continue to perform well in a challenging environment, with net income and earnings per share exhibiting strong growth of 15% and 14%, respectively. Noninterest income and net interest income grew 7% and 8%, respectively. Expense growth of 5% reflects continued investments in our business as well as ongoing support of regulatory requirements and technology initiatives.
In the third quarter, we returned $225.5 million to common stockholders through dividends and stock repurchases, demonstrating our continuing commitment to returning capital to our common stockholders, said Frederick H. Waddell, Chairman and Chief Executive Officer.
Stanley Black & Decker Beats on Q3 Earnings & Revenues
By Zacks Equity Research
October 22, 2015 10:16 AM
1. Illinois Tool (ITW) Beats on Q3 Earnings, Cuts '15 Outlook Zacks
2. Will Stanley Black & Decker (SWK) Q3 Earnings Surprise? Zacks
3. Stanley Black & Decker (SWK) Beats Q3 Earnings and Revenue Zacks
4. EMC Q3 Earnings In Line with Estimates, Revenues Beat Zacks
5. Astec (ASTE) Falls as Q3 Earnings, Revenues Miss Estimates Zacks
6. 5 Foods Men Should Never Eat AGRBody Sponsored
Industrial tool maker Stanley Black & Decker, Inc. SWK reported better-than-expected results for third-quarter 2015. The company’s earnings from continuing operations came in at $1.55 per share, surpassing the Zacks Consensus Estimate of $1.52. Also, the bottom line surpassed the year-ago tally of $1.53 per share.
Stanley Black & Decker generated net sales of $2,829.5 million, down 1.7% year over year. However, the top line outpaced the Zacks Consensus Estimate of $2,812 million. As revealed, organic revenues grew 6%, including volume gain of 5% and positive price impact of 1%, while unfavourable currency translation had a negative 8% impact on net sales.
Stanley Black & Decker reports revenue under three market segments. A brief discussion on the segment’s quarterly results is provided below:
The Tools & Storage segment generated revenues of $1,838.2 million, up 1.8% year over year and representing 65% of net revenue in the quarter. Industrial segment’s revenues, accounting for roughly 16.9% of net revenue, came in at $479.3 million, down 7.4% year over year. Revenues from the Security segment, roughly 18.1% of net revenue, decreased 7.7% year over year to $512 million.
In the quarter, Stanley Black & Decker’s cost of sales, as a percentage of revenues, came in at 63.7% versus 63.6% recorded in the year-ago quarter.
RCI Hospitality Announces 4Q15 & FY15 Club & Restaurant Sales
- FY15 Sales of $142.1 Million - Up 11.6% vs. FY14
- 4Q15 Sales of $34.0 Million - Up 3.9% vs. 4Q14
RCI Hospitality Holdings, Inc.
October 8, 2015 9:00 AM
HOUSTON, Oct. 8, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (RICK) today announced total sales at adult clubs and bars/restaurants for the fiscal fourth quarter and year ended September 30, 2015. RCI expects to announce 4Q15 and FY15 results on December 14, 2015.
.RCI HOSPITALITY HOLDINGS INC
FY15 vs. FY14
•Total club and restaurant sales reached $142.1 million compared to $127.4 million.
•Same store sales were $110.6 million compared to $111.3 million.
•Nightclubs segment sales totaled $123.0 million compared to $121.2 million.
•Bombshells segment sales totaled $19.1 million compared to $6.2 million.
4Q15 vs. 4Q14
•Total club and restaurant sales reached $34.0 million compared to $32.7 million.
•Same store sales were $29.9 million compared to $31.6 million.
•Nightclubs segment sales totaled $29.4 million compared to $30.1 million.
•Bombshells segment sales totaled $4.6 million compared to $2.5 million.
In 4Q15, there were 45 units (40 clubs and 5 Bombshells) versus 46 in 4Q14 (43 clubs and 3 Bombshells). During 4Q15, Union Square nightclub in Fort Worth was closed.
Eric Langan, President and CEO, commented, "We're pleased to see a 3.9% year over year increase in quarterly sales and an 11.6% increase in annual sales.
"This continues to demonstrate the soundness of our bar/restaurant strategy, which saw Bombshells segment sales up 84% in 4Q15 and up more than 200% in FY15, and the success of our January acquisition of Down in Texas Saloon in Austin, TX, and the May acquisition of The Seville Club of Minneapolis.
"For FY15, same store sales were nearly level, but down 5.6% for 4Q.
Sentiment: Strong Buy
Stanley Black & Decker Reports 3Q 2015 Results
Stanley Black & Decker
October 22, 2NEW BRITAIN, Conn., Oct. 22, 2015 /PRNewswire/ -- Stanley Black & Decker (SWK) today announced third quarter 2015 financial results.
•3Q'15 Revenues Totaled $2.8 Billion, As Strong Organic Growth Of 6% Was More Than Offset By 8% Currency Impact
•3Q'15 Operating Margin Rate Expanded 70 Basis Points To A Post-Merger Record 14.8% Despite $70 Million Of Currency Headwinds
•3Q'15 Diluted GAAP EPS Was $1.55 Up 1% From 3Q'14 As Strong Operational Performance More Than Offset Tax And Restructuring Headwinds
•Raising 2015 Full Year GAAP EPS Guidance Range To $5.80 To $5.95, From $5.70 To $5.90, Up 8% To 11% Versus 2014
3Q'15 Key Points:
•Net sales for the period were $2.8 billion, down 2% versus prior year, as positive volume (+5%) and price (+1%) were more than offset by currency (-8%).
•Gross margin rate for the quarter was 36.3%, down slightly from the prior year rate of 36.4% as favorable volume leverage, price, productivity, cost actions and commodity deflation substantially offset unfavorable currency.
•SG&A expenses were 21.5% of sales compared to 22.3% in 3Q'14 reflecting volume leverage and cost control.
•Operating margin rate was 14.8% compared to 14.1% in 3Q'14, as actions to improve profitability and generate solid operating leverage more than offset significant unfavorable currency.
•Restructuring charges for the quarter were $14.0 million compared to a restructuring credit of $0.2 million in 3Q'14.
•Tax rate was 24.5% compared to the 3Q'14 rate of 19.1% as a result of higher U.S. vs. foreign earnings in the third quarter of 2015 compared to the prior year and the impact of statutory expirations on certain foreign tax positions in last year's third quarter.
•Average diluted shares outstanding for the quarter were 150.8 million versus 160.6 million a year ago