The "Street has WETF coming in at .08 for the quarter that should be reported on or about August 01, 2014! All post's welcome! The "Good Dr's In"!
Sentiment: Strong Buy
Jewett-Cameron Announces 3rd Quarter Financial Results
PR Newswire Jewett-Cameron Trading Company Ltd.
17 hours ago
NORTH PLAINS, Ore., July 14, 2014 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the third quarter and nine month periods of fiscal 2014 ended May 31, 2014.
Sales for the third quarter of fiscal 2014 totaled $15.3 million compared to sales of $15.1 million for the third quarter of fiscal 2013. Income from operations was $1,552,537 compared to income of $1,686,508 for the third quarter ended May 31, 2013. Net income after other items and income taxes for the current quarter was $936,329, or $0.33 per share, compared to net income of $1,018,564, or $0.32 per share, in the year-ago quarter.
For the nine months ended May 31, 2014, Jewett-Cameron reported sales of $33.1 million compared to sales of $38.6 million for the nine months ended May 31, 2013. Net income was $1,506,306, or $0.50 per share, compared to net income of $2,289,941, or $0.73 per share, in the first nine months of fiscal 2013. The year ago period was positively affected by the one-time gain on the sale of property of $353,852.
"Several of our market segments have become much more competitive during the last year," said CEO Don Boone. "We have also seen increases in raw material prices, which together has resulted in lower margins. As a response, we have initiated several programs to obtain new business, including introductory pricing and the launch of several new products."
As of May 31, 2014, the Company's cash position was $4.2 million, and there was no borrowing against its $1.0 million line of credit. The Company has historically utilized its cash position by implementing share repurchase programs as an effective method of enhancing shareholder value. During the third quarter of fiscal 2014 ended May 31, 2014, the Company repurchased and cancelled a total of 327,078 common shares at a total cost of $3,234,699.
Sentiment: Strong Buy
Newell Rubbermaid to Webcast Second Quarter 2014 Earnings Results
GlobeNewswire Newell Rubbermaid
3 hours ago
ATLANTA, July 10, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NWL) today announced its second quarter 2014 earnings results will be released Thursday, July 31, prior to market open and will be followed by a live webcast at 8:00 a.m. ET. To listen to the webcast, please visit Events & Presentations in the Investor Relations section of Newell Rubbermaid's Web site. The live webcast will be recorded and made available for replay.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2013 sales of approximately $5.7 billion and a strong portfolio of leading brands, including Sharpie(R), Paper Mate(R), Rubbermaid Commercial Products(R), Irwin(R), Lenox(R), Parker(R), Waterman(R), Rubbermaid(R), Levolor(R), Calphalon(R), Goody(R), Graco(R), Aprica(R) and Dymo(R). As part of the company's Growth Game Plan, Newell Rubbermaid is making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.
Vice President, Investor Relations
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#$%$ incorporated Completes the Acquisition of a Minnesota Galvanizing Facility
Acquisition strengthens market leadership position; Increases to 36 the number of galvanizing facilities in North America
PR Newswire #$%$ incorporated
June 30, 2014 4:50 PM
FORT WORTH, Texas, June 30, 2014 /PRNewswire/ -- #$%$ incorporated (#$%$), a global provider of electrical products and highly engineered services and a provider of galvanizing services in North America, today announced that it has successfully completed a transaction to acquire substantially all of the assets of Zalk Steel & Supply Co., a Minneapolis, Minnesota-based galvanizing company that has served its customers in the upper Midwest of the United States since 1955. The acquisition of Zalk Steel & Supply, a small-kettle niche provider of galvanizing services, brings to 36 the number of galvanizing plants in the Galvanizing Services Segment of #$%$, and further enhances #$%$'s position as the market leader in the North American galvanizing industry.
Tom Ferguson, president and chief executive officer of #$%$ incorporated, said "We are extremely pleased to make this strategic acquisition that allows us to expand our network of galvanizers and broadens our service capabilities in the Midwestern U.S. with yet another successful operating plant. Operated with pride and integrity since its founding in 1955, Zalk Steel & Supply has a rich heritage of providing a superior level of service and support to their customers.
#$%$ incorporated Reports Financial Results for the First Quarter of Fiscal Year 2015
Reports First Quarter 2015 EPS of $0.58
Announces Record Quarterly Sales of $216.1 million, up $32.9 million or 18.0% compared to First Quarter Fiscal 2014
Backlog finishes at $309.0 million, compared to $270.6 million for First Quarter Fiscal 2014, an increase of 14.2%
Consolidated operating margins decline to 12.9% vs. 13.1% in First Quarter Fiscal 2014
Company reaffirms FY 2015 EPS target range of $2.40 to $2.80 per share and target sales range of $850 million to $900 million
Company declares quarterly dividend of $0.14 per share
PR Newswire #$%$ incorporated
17 hours ago
FORT WORTH, Texas, June 27, 2014 /PRNewswire/ -- #$%$ incorporated (#$%$), a global provider of electrical products and highly engineered services and a leading provider of galvanizing services in North America, today announced unaudited financial results for the three month period ended May 31, 2014. Revenues for the first quarter of fiscal year 2015 were $216.1 million compared to $183.2 million for the same quarter last year, an increase of 18.0 percent. Net income for the first quarter was $14.9 million, or $0.58 per diluted share, compared to net income of $14.5 million, or $0.57 per diluted share, for the same quarter last year.
Earnings during the quarter included a pretax gain of $2.4 million from an insurance settlement relating to losses incurred at our Joliet galvanizing facility. Adjusted earnings without this gain would have been $0.52 per share for the first quarter of fiscal 2015. During the prior year's first quarter #$%$ recorded non-recurring items including income related to a favorable settlement of a lawsuit, expenses from acquisitions, and operating losses at our Joliet facility. Adjusted earnings per share for the first quarter of fiscal 2014 without these non-recurring items would have been $0.56 per share.
Sentiment: Strong Buy
Newell Rubbermaid to Reaffirm Fiscal Year 2014 Outlook at Deutsche Bank Global Consumer Conference
GlobeNewswire Newell Rubbermaid
June 16, 2014 4:30 PM
ATLANTA, June 16, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NWL) announced it will reaffirm its fiscal year 2014 outlook, as provided in its first quarter 2014 earnings press release dated May 2, 2014, during its presentation tomorrow at the Deutsche Bank Global Consumer Conference in Paris, France.
Newell Rubbermaid is reaffirming its full year 2014 guidance as follows:
Core sales growth of 3 to 4 percent
Normalized operating margin improvement of up to 40 basis points
Normalized EPS of $1.94 to $2.00
Operating cash flow between $600 and $650 million
A reconciliation of the 2014 earnings outlook is as follows:
Diluted earnings per share $1.50 to $1.56
Restructuring and restructuring-related costs $0.29 to $0.37
Costs associated with harness buckle recall $0.02
Currency devaluation - Venezuela $0.09
Normalized EPS $1.94 to $2.00
President and Chief Executive Officer Michael Polk will present June 17, 2014 at 4:30 a.m. EDT (10:30 a.m. CEST). The presentation will be webcast live and may be accessed through Events & Presentations in the Investor Relations section of the Newell Rubbermaid website. The webcast will be archived and available for replay.
Non-GAAP Financial Measures
This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission and includes a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.
The company uses certain financial measures that are included in this press release both in explaining its results to stockholders and the investment community and in its internal evaluation and management of its businesses.
Nathan's Famous, Inc. Reports Year-End And Fourth Quarter Results
PR Newswire Nathan's Famous, Inc.
June 13, 2014 8:30 AM
JERICHO, N.Y., June 13, 2014 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for its fiscal year and fiscal quarter ended March 30, 2014.
For the fiscal year ended March 30, 2014:
Revenues increased by 15.9% to $82,927,000, as compared to $71,543,000 during the fifty-three weeks ended March 31, 2013;
Net income increased by 11.5% to $8,327,000 as compared to $7,468,000 for the fifty-three weeks ended March 31, 2013; and
Earnings per diluted share increased by 11.0% to $1.81 as compared to $1.63 for the fifty-three weeks ended March 31, 2013.
For the fourth quarter ended March 30, 2014:
Revenues increased by 15.7% to $17,331,000, as compared to $14,976,000 during the fourteen weeks ended March 31, 2013;
Net income was $1,218,000 as compared to $1,555,000 for the fourteen weeks ended March 31, 2013; and
Earnings per diluted share were $0.27 as compared to $0.34 for the fourteen weeks ended March 31, 2013.
The Company also reported the following:
In March 2014, our new license agreement commenced with John Morrell & Co. replacing SMG, Inc. as Nathan's exclusive licensee to manufacture and sell Nathan's branded hot dog, sausage and corned beef products at retail. John Morrell & Co began initial shipments during the third week of March 2014. We expect to begin realizing the financial benefits of this new agreement in our first fiscal quarter ending in June 2014. As previously disclosed, we believe the financial terms of the John Morrell agreement are more advantageous to us compared to the financial terms of the previous SMG agreement. These improved terms include royalties of 10.8% of net sales, compared to approximately 4.5% of net sales under the SMG agreement, and significant minimum annual royalty guarantees.
Labor SMART Exceeds $500,000 in Weekly Revenue for First Time
Company on Track for Significant Growth in 2014
Marketwired Labor SMART, Inc.
May 12, 2014 7:50 AM
HIRAM, GA--(Marketwired - May 12, 2014) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), an emerging provider of on-demand blue collar staffing primarily in the southeastern United States, today announced it achieved a record $563,585 in revenue for the week ending May 9, 2014. This represents the first time the company has reached this milestone -- and exceeded its own projection of when this type of weekly revenue would occur.
Ryan Schadel, Labor SMART's CEO stated, "This is a major milestone for Labor SMART and sets the stage for reaching the scale we are after, where expansion costs are outweighed by operating income. We will complete our footprint expansion push for 2014 in the coming weeks and remain very confident in the projections that we've made for 2014."
Labor SMART's strategy of organic growth, new offices and acquisitions is reflected in record revenues reported by the company for the past 19 months.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees.
This release contains statements that constitute forward-looking statements within
In the first quarter of 2014, net revenues were $1,132.7 million, a 14.2% increase from the $992.1 million generated in the first quarter of 2013. Adjusted property EBITDA in the first quarter of 2014 reached a record $384.3 million, up 16.2% from $330.7 million in the first quarter of 2013.
Table games results in Macau are segregated into two distinct reporting categories, the VIP segment and the mass market segment.
Table games turnover in the VIP segment was $36.0 billion for the first quarter of 2014, a 26.7% increase from $28.4 billion in the first quarter of 2013. VIP table games win as a percentage of turnover (calculated before commissions) for the quarter was 2.79%, within the expected range of 2.7% to 3.0% and significantly below the 3.14% experienced in the first quarter of 2013.
Table games win in the mass market segment increased by 23.7% to $300.7 million in the first quarter of 2014. Mass market table games win per unit per day increased by 19.1% to $15,695 from $13,180 in the first quarter of 2013. Drop in the mass market segment was $692.5 million in the first quarter of 2014, up 1.1% from the 2013 first quarter, while the segment’s win percentage of 43.4% compares to 35.5% in last year’s first quarter and sequentially to 42.3% in the fourth quarter of 2013. Note that customers purchase mass market gaming chips at either the gaming tables or the casino cage. Chips purchased at the casino cage are excluded from table games drop and will increase the expected win percentage. With the increased purchases at the casino cage, we believe the relevant indicator of volumes in the mass market segment should be table games win.
Slot machine handle of $1.4 billion for the first quarter of 2014 was 25.3% above the prior-year quarter, and slot win increased 13.1% compared to the prior-year period. Win per unit per day was 13.3% higher at $917, compared to $809 in the first quarter of 2013.
Wireless Telecom Group Announces First Quarter 2014 Financial Results Including an Increase in Net Sales of 35%
Business Wire Wireless Telecom Group, Inc.
May 15, 2014 8:00 AM
PARSIPPANY, N.J.--(BUSINESS WIRE)--
Wireless Telecom Group, Inc. (NYSE MKT:WTT) announced today results for the first quarter ended March 31, 2014.
For the quarter ended March 31, 2014, the Company reported net sales of $9,185,000, compared to $6,797,000 for the same period in 2013, an increase of 35%. Net sales in the Network Solutions segment were $6,390,000, compared to $3,794,000 for the same period in 2013, an increase of 68%. Net sales in the Test and Measurement segment were $2,795,000, compared to $3,003,000 for the same period in 2013, a decrease of 7%.
The Company also reported net income of $440,000 or $0.02 per diluted share for the first quarter of 2014, compared to net income of $346,000, or $0.01 per diluted share, for the first quarter of 2013, an increase of 27%.
Non-GAAP normalized EBITDA for the quarter ended March 31, 2014 was $1,086,000 or 12% of net sales as compared to $720,000 or 11% of net sales for the first quarter of 2013. Our non-GAAP normalized EBITDA results do not include the Company’s tax provision (benefit), depreciation and amortization, interest expense, and certain other costs. A reconciliation of Net Income to non-GAAP normalized EBITDA results is included as an attachment to this press release.
Paul Genova, CEO of Wireless Telecom Group, Inc., commented, “We are excited by the continued growth in our Network Solutions business segment. Our ongoing investment in products for the DAS and LTE marketplace continue to benefit the Company through increased revenue, earnings and improved cash flow.”
“Our Test and Measurement segment showed a decrease in 2014 revenue due, in large part, to reduced military budgets which affected order flow during the first quarter.
RLJ Entertainment Reports Financial Results for the First Quarter Ended March 31, 2014
GlobeNewswire RLJ Entertainment, Inc.
17 hours ago
SILVER SPRING, Md., May 15, 2014 (GLOBE NEWSWIRE) -- RLJ Entertainment Inc., ("RLJ Entertainment" or "the Company") (RLJE), today reported results for the first quarter ended March 31, 2014. Full detail of the financial results as well as Management Discussion and Analysis, or MD&A, can be found in the Company's Form 10-Q to be filed with the SEC.
RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The Company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences.
RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, and fitness, by using new technologies to deliver that content to consumers.
Robert L. Johnson, Chairman of RLJ Entertainment stated, "During the first quarter we continued to make solid progress refining and executing against our growth strategy and establishing a solid platform to offer exciting new entertainment content to loyal and passionate audiences. We remain focused on optimizing the exploitation of content across all platforms and believe that this strategy will lead to strong returns for investors over time."
Miguel Penella, Chief Executive Officer of RLJ Entertainment, commented, "Our financial performance in the first quarter was in line with our expectations as we continued to focus on investing in a targeted portfolio of content offerings and leveraging a strong set of traditional and digital distribution channels.
SIFCO Industries, Inc. (“SIFCO”) Announces Second Quarter Fiscal 2014 Financial Results
Business Wire SIFCO Industries, Inc.
May 5, 2014 4:10 PM
SIFCO Industries, Inc. (NYSE MKT: SIF) today announced financial results for its second quarter of fiscal year 2014, which ended March 31, 2014.
Net sales from continuing operations in second quarter fiscal 2014 increased 3.7% to $29.0 million, compared to $28.0 million in second quarter fiscal 2013.
Income from continuing operations before income tax provision in second quarter fiscal 2014 was $2.4 million compared with $2.5 million in second quarter fiscal 2013.
Net income from continuing operations for second quarter fiscal 2014 was $1.5 million, or $0.28 per diluted share, compared with net income of $1.8 million, or $0.33 per diluted share in second quarter fiscal 2013.
First Six Months
Net sales from continuing operations increased 0.4% in the first six months of fiscal 2014 to $55.7 million, compared to $55.5 million in the comparable period in fiscal 2013.
Income from continuing operations before income tax provision in the first six months of fiscal 2014 was $4.0 million compared with $4.4 million in the comparable period in fiscal 2013.
Net income from continuing operations in the first six months of fiscal 2014 was $2.7 million, or $0.49 per diluted share, compared with net income of $2.9 million, or $0.55 per diluted share in the comparable period in fiscal 2013.
CEO Michael S. Lipscomb stated, "SIFCO’s year-over-year sales from its continuing operations reflect sustained growth in its aerospace component sales and a recovery in its energy component sales during the quarter. We foresee strong aerospace sales volume and continuing recovery in the energy markets as our customers introduce new products during the remainder of 2014. SIFCO continues to be well positioned for the remaining quarters in fiscal 2014.”
Lakes Entertainment Announces Results for First Quarter 2014
Business Wire Lakes Entertainment, Inc.
3 hours ago
Lakes Entertainment, Inc. (LACO) today announced results for the three months ended March 30, 2014.
First Quarter Results
Net loss for the first quarter of 2014 was $1.8 million, compared to net loss of $0.3 million for the first quarter of 2013. Loss from operations was $1.6 million for the first quarter of 2014 compared to a loss from operations of $1.9 million for the first quarter of 2013. Basic and diluted loss per share was $0.07 for the first quarter of 2014 compared to basic and diluted loss per share of $0.01 for the first quarter of 2013.
Lakes Entertainment reported first quarter 2014 net revenues of $12.3 million, compared to prior-year first quarter net revenues of $3.3 million. First quarter 2014 net revenues were related to the operation of Rocky Gap Casino Resort near Cumberland, Maryland, (“Rocky Gap”). Lakes acquired this property in August 2012 and gaming operations began on May 22, 2013. During the first quarter of 2013, net revenues of $0.6 million were related to the operation of Rocky Gap. Also included in prior-year first quarter net revenues were $2.7 million in management fees related to the management of the Red Hawk Casino, near Sacramento, California, owned by the Shingle Springs Band of Miwok Indians (the “Tribe”). There were no management fees earned during the first quarter of 2014 due to the August 29, 2013 termination of the management agreement for the Red Hawk Casino.
During the first quarter of 2014, property operating expenses for Rocky Gap were $7.3 million, and primarily related to gaming operations, rooms, food and beverage and golf. During the first quarter of 2013, property operating expenses for Rocky Gap were $0.6 million, which were primarily related to rooms, food and beverage and golf.
7:02 am WisdomTree beats by $0.01, misses on revs (WETF) : Reports Q1 (Mar) earnings of $0.12 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.11; revenues rose 46.4% year/year to $42.9 mln vs the $43.41 mln consensus. Included in the quarter were $1.3 million, or $0.01 per diluted EPS, of costs associated with our acquisition of U.K.-based ETP provider Boost and non-recurring costs for transitioning our fund accounting and administration services.
ETF assets under management ("AUM") were $33.9 billion at March 31, 2014, up 35.0% from $25.1 billion at March 31, 2013, and down 2.9% from $34.9 billion at December 31, 2013. AUM decreased from December 31, 2013 due to net outflows of $0.5 billion primarily in our emerging markets equity, currency and fixed income focused ETFs as well as in our Japan Hedged Equity ETF (DXJ). We also had negative market movement of $0.5 billion, primarily in those same funds.
Sentiment: Strong Buy
WisdomTree Announces First Quarter 2014 Results
GlobeNewswire WisdomTree Investments, Inc.
May 2, 2014 7:00 AM
Pre-Tax Income of $16.5 Million; Doubles From Year Ago Quarter
$0.12 Diluted Pretax EPS
Revenues Increase 46% From Year Ago Quarter
NEW YORK, May 2, 2014 (GLOBE NEWSWIRE) --WisdomTree Investments, Inc. (WETF), an exchange-traded product ("ETP") sponsor and asset manager, today reported pre-tax income of $16.5 million or $0.12 per share on a fully diluted basis. This compares to $7.9 million in the first quarter of 2013 and $16.5 million in the fourth quarter of 2013. Included in the quarter were $1.3 million, or $0.01 per diluted EPS, of costs associated with our acquisition of U.K.-based ETP provider Boost and non-recurring costs for transitioning our fund accounting and administration services. The Company also recorded a non-recurring tax benefit of $13.7 million resulting in net income of $30.2 million for the first quarter of 2014.1
WisdomTree CEO and President Jonathan Steinberg said, "WisdomTree's powerful operating model produced strong financial results in the first quarter on a base of $33.9 billion in average ETF assets. Even against the backdrop of a challenging market environment for some of our largest exposures, we increased revenues and earnings year over year, demonstrating the scale and strength of our business."
Mr. Steinberg continued, "We completed important initiatives, including a seamless transition in back office fund accounting, administration and custody services. We also completed our investment to establish WisdomTree Europe and look forward to building out a platform of Boost and WisdomTree products for the world's second largest ETF market. We continue to invest strategically to make WisdomTree even more competitive for the future."
Summary Operating and Financial Highlights
Three Months Ended Change From
Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31,
Operating Highlights ($, in billions): 2014 2013 2013 2013 2013
Sentiment: Strong Buy
Newell Rubbermaid Announces First Quarter Results
GlobeNewswire Newell Rubbermaid
19 hours ago
Reaffirms Full Year Guidance
Increases Quarterly Dividend 13 percent to $0.17 per share
ATLANTA, May 2, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NWL) today announced its first quarter 2014 financial results.
"We delivered solid first quarter results in the context of two previously communicated events. Our team did a good job overcoming the adverse impacts of the harness buckle recall on select car seats in our U.S. Baby business and the weather-related slow down on our U.S.-centric Home Solutions business," said Michael Polk, Chief Executive Officer. "Strong core sales growth in Writing offset declines in Home Solutions and Baby, yielding normalized earnings per share of $0.35, flat with last year's results.
"We are confident in our full year financial guidance and expect the company's core sales and earnings per share growth to accelerate through the balance of the year as we significantly increase advertising and promotion investment levels in support of our brands and innovation. Importantly, the Board of Directors has approved a 13 percent increase in our quarterly dividend to $0.17, an annualized rate of $0.68 per share. This is the fourth dividend increase in the last three years, which is a reflection of the Board's continued confidence in Newell's strong cash generation ability and in the promise of our Growth Game Plan."
First Quarter Executive Summary
Net sales were $1.23 billion, a 0.7 percent decline versus prior year results.
Core sales, which exclude the impact of changes in foreign currency, grew 0.7 percent.
Normalized gross margin was 38.8 percent, a 60 basis point improvement compared with the prior year period. Reported gross margin was 38.1 percent versus 38.2 percent in the prior year period.
Normalized operating margin was 11.0 percent versus 11.2 percent in the prior year period.
Lakes Entertainment, Inc. Announces Sale of Its Ownership in Dania Entertainment Holdings
Business Wire Lakes Entertainment, Inc.
April 23, 2014 6:30 AM
Lakes Entertainment, Inc. (LACO) announced that on April 21, 2014, its wholly owned subsidiary Lakes Florida Development, LLC (“Lakes”) entered into a Redemption Agreement with Dania Entertainment Holdings, LLC (“DEH”)). The Redemption Agreement provides that DEH redeemed Lakes’s 20% ownership in DEH in consideration for DEH transferring to Lakes 5% ownership in Dania Entertainment Center, LLC (the entity that owns the Dania Casino & Jai Alai in Dania Beach, Florida)(“DEC”). Concurrently, Lakes entered into a Purchase Agreement with ONDISS Corp. (“ONDISS”) pertaining to the sale of Lakes’s membership interest of DEC (“Purchase Agreement”). The Purchase Agreement provides that ONDISS will pay Lakes a total purchase price of approximately $2,500,000 for the 5% ownership in DEC that was transferred to Lakes by DEH. ONDISS made an initial payment to Lakes of $1,000,000 on April 21, 2014 at which time 40% of Lakes’s ownership in DEC was transferred to ONDISS. The remaining purchase price will be paid in three equal semi-annual installments of $530,323.76, and 20% of Lakes’s original ownership in DEC will be transferred to ONDISS upon each payment.
The newly renovated Dania Casino & Jai Alia features 550 slot machines, a poker room, simulcast, a bistro and lounge bar, and live Jai Alai.
“We are pleased we could reach an agreement with ONDISS to purchase our ownership in Dania,” said Lyle Berman, CEO of Lakes. “We believe receiving $2,500,000 for this asset that we had previously written off is a good result for our shareholders,” added Mr. Berman.
About Lakes Entertainment
Lakes Entertainment, Inc. currently owns the Rocky Gap Casino Resort near Cumberland, Maryland, and has an investment in Rock Ohio Ventures, LLC’s casino and racino developments in Ohio.
Utah Medical Products, Inc. Reports Financial Performance for First Quarter 2014
Marketwired Utah Medical Products, Inc.
April 24, 2014 9:11 AM
SALT LAKE CITY, UT--(Marketwired - Apr 24, 2014) - In the first calendar quarter (1Q) of 2014, Utah Medical Products, Inc. (NASDAQ: UTMD) achieved net income consistent with 1Q 2013. This was achieved with lower sales because profit margins were higher in all income statement categories, as follows:
(JAN - MAR) 1Q 2013
(JAN - MAR)
Gross Profit Margin (gross profits/ sales): 61.6% 60.5%
Operating Profit Margin (operating profits/ sales): 39.1% 37.5%
EBT Margin (profits before income taxes/ sales): 38.5% 36.5%
Net Profit Margin (profit after taxes/ sales): 27.7% 26.4%
The following is a summary comparison of 1Q 2014 with 1Q 2013 income statement measures:
Gross Profit: (4%)
Operating Income: (1%)
Net Income: -
Earnings Per Share: (1%)
As UTMD states in its quarterly SEC Form 10-Q disclosures, 'Because of the relatively short span of time, results for any given three month period in comparison with any previous three month period may not be indicative of comparative results for the year as a whole.'
Currencies in this report are denoted #$%$ or USD = U.S. Dollars; AUD = Australia Dollars; GBP = UK Pound Sterling; and Euro = Euros. Currency amounts throughout this report are in thousands, except per share amounts and where noted.
As shareholders may recall, in UTMD's 2013 SEC Form 10-K released last month, the company projected lower sales of blood pressure monitoring (BPM) kits to its two largest international customers for BPM kits manufactured in Ireland, as a result of a lack of usual annual forecasts and lower backlog at the beginning the year. Backlog is defined as formal orders for devices placed by customers which have been accepted by UTMD with committed future delivery dates.