WD-40 Company Reports Fourth Quarter and Fiscal Year 2015 Financial Results
~ Company reports diluted earnings per common share of $3.04 for fiscal year 2015
~~ Impacts of changing foreign currency exchange rates significantly reduced Company's net sales in fiscal year 2015
October 15, 2015 4:05 PM
SAN DIEGO, Oct. 15, 2015 /PRNewswire/ -- WD-40 Company (WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its fiscal fourth quarter and fiscal year ended August 31, 2015.
Financial Highlights and Summary
•Total net sales for the fourth quarter were $92.0 million, a decrease of 6 percent compared to the prior year fiscal quarter. Total net sales for the full fiscal year were $378.2 million, a decrease of 1 percent from the prior fiscal year.
•Translation of the Company's foreign subsidiary results to U.S. dollars had an unfavorable impact on sales for the current quarter and year to date. On a constant currency basis, total net sales were $96.2 million for the fourth quarter and $389.1 million for the full fiscal year.
•Net income for the fourth quarter was $11.7 million, an increase of 2 percent compared to the prior year fiscal quarter. Net income for the full fiscal year was $44.8 million, an increase of 2 percent from the prior fiscal year.
•Diluted earnings per share were $0.80 in the fourth quarter, compared to $0.77 per share for the prior year fiscal quarter. Diluted earnings per share for the full fiscal year were $3.04 compared to $2.87 in the prior fiscal year.
Tupperware Brands Reports Third Quarter 2015 Results
- Third quarter sales up 7% in local currency+ and down 11% in dollars.
- GAAP diluted E.P.S. $0.72 versus $0.63 prior year, up 100% in local currency and 14% in dollars. Adjusted*, diluted E.P.S. $0.79, up 25% in local currency and down 12% in dollars. Five cents over the high end of the guidance range after overcoming five cents worse impact from exchange rates than in guidance.
- Asia Pacific up 6% in local currency, a 5 point sequential improvement, including China up 18% and Indonesia up 12% in local currency. Segment sales down 8% in dollars.
- South America sales up 21% in local currency and down 19% in dollars driven by Brazil, up 21% in local currency.
- Both units' local currency sales in the Tupperware North America segment were up in 14%. Segment even in dollars.
Tupperware Brands Corporation
ORLANDO, Fla., Oct. 21, 2015 /PRNewswire/ -- (TUP) Tupperware Brands Corporation today announced third quarter 2015 operating results. ..
.Tupperware Brands Logo
Rick Goings, Chairman and CEO, commented, "I am pleased that our management teams were able to build momentum through the quarter, to bring in a 7% local currency sales increase, beating the high-end of our guidance range. The strong performance shows how the flexibility in our business model enables us to react to economic and political volatility."
Goings continued, "We are confident in our strategies for capturing future growth through penetration opportunities in many of our markets and from the benefits of our Vision 20/20 initiatives, as highlighted in our analyst day update video posted on our website on October 12th. We see a bright future for our 3.1 million global sales force, our associates and in our ability to continue to provide value to all of our stakeholders."
The "Street" has WETF coming in at .19 for the quarter that should be reported on or about October 30, 2015! All post's welcome! The "Good Dr's In"!
Q3 Results and Q4 Forecast Global membership grew 3.62 million to 69.17 million members compared to prior year growth of 3.02 million, and a forecast of 3.55 million. Operating income was $74 million, compared to prior year of $110 million and a forecast of $81 million. Seven quarters ago we moved to providing you our internal forecast for the quarter ahead. We strive for accuracy in this projection and, when it comes to global net additions, Q3 was our most accurate to date: we were within 2% (3.62 vs. 3.55) and within 10% on operating income ($74m vs. $81m).
While global growth was as we expected, our forecast was high for the US and low for international. We added 0.88 million new US members in the quarter compared to 0.98 million prior year and a forecast of 1.15 million. Our over-forecast in the US for Q3 was due to slightly higher-than-expected involuntary churn (inability to collect), which we believe was driven in part by the ongoing transition to chip-based credit and debit cards. In terms of US net additions, through the first nine months of 2015, we are slightly ahead of prior year, and we expect to finish 2015 at about 2014 levels. This would mark the 4th consecutive year we’ve added about 6 million members in the US.
Our US contribution margin in Q3 expanded 375 basis points year over year to 32.4%. This was inclusive of an acceleration in the amortization of some of our licensed content, similar to how we already treat originals and reflecting more viewing in the first month. The effect of this change was a $13 million decrease in US streaming contribution profit in Q3. For Q4, we anticipate 1.65 million US net adds and US contribution margin of 34.0% vs. 28.0% in the year ago quarter. We continue to target a 40% US contribution margin by 2020.
International net add growth totaled 2.74 million compared to 2.04 million in the prior year and a 2.40 million forecast. Excluding the impact of foreign currency ($96 million on a year over year basis), international ASP improved 6% vs. Q3 ‘14, helped by plan mix. In August, we raised our high-definition 2-screen monthly price plan in Europe by one Euro without negatively impacting growth.
As we have indicated previously, international contribution losses will grow sequentially in Q4 as we launch Spain, Italy and Portugal. We have announced our expansion to South Korea, Hong Kong, Taiwan and Singapore in early 2016. Our plan remains to run around break-even through 2016 and to deliver material profits thereafter.
Last week we increased prices in several countries including the US, to improve our ability to acquire and offer high quality content, which is the number one member request. Our US pricing is now $7.99 for our standard-definition 1-screen-at-a-time plan (unchanged), $9.99 for our high-definition 2-screen plan (up $1), and $11.99 for ultra-high-definition 4-screen plan (unchanged). Members who were paying $8.99 for the high-definition plan are grandfathered at that price for one year.
Newell Rubbermaid to Acquire Elmer’s for $600 Million
Announces Intention to Divest Window Coverings Business
October 5, 2015 8:30 AM
Newell Rubbermaid (NWL) has entered into a definitive agreement to acquire Elmer’s Products, Inc. ("Elmer’s") from an affiliate of Berwind Corporation, a family-owned investment management company, for a purchase price of $600 million, subject to customary working capital adjustments. Elmer’s, whose brands include Elmer’s®, Krazy Glue®, and X-Acto®, is the leading provider of activity-based adhesive and cutting products that inspire creativity in the classroom, at home, in the office, in the workshop and at the craft table. Elmer’s distributes Krazy Glue, a leading instant adhesive brand in North America, through a joint venture with Toagosei Chemical Co. Ltd.1
“The acquisition of Elmer’s strengthens our market-leading Writing Segment with three outstanding arts and craft brands that will not only enhance our merchandising scale in the key Back to School drive period, but offer great cross-selling and distribution synergies given the strong overlap with Newell’s retailer and channel footprint,” said Michael Polk, President and Chief Executive Officer of Newell Rubbermaid. “We are delighted to welcome the Elmer’s team and their leading brands to our company. The addition of Elmer’s adds even more firepower and long term potential to our building growth acceleration and margin development story.”
Elmer’s net sales for calendar year 2015 are projected to be approximately $240 million. The acquisition is expected to be accretive to normalized earnings and operating margin in 2016. The acquired business will be reported as part of Newell Rubbermaid’s Writing segment with Elmer’s, X-Acto and Krazy Glue joining the company's Paper Mate®, Sharpie®, Expo® and Mr. Sketch® brands.
Sentiment: Strong Buy
#$%$ Inc. Reports Financial Results for the Second Quarter of Fiscal Year 2016
Second Quarter Fiscal 2016 EPS of $0.67, up 26.4% compared to $0.53 in Fiscal 2015
Second Quarter Revenues of $214.2 million, up $20.8 million or 10.8% over Fiscal 2015
Gross Margins Increased to 25.0% compared to 21.8% in Fiscal 2015
Announces incremental $0.4 million in Realignment Charges taken in Second Quarter
#$%$ Reaffirms Previously Announced Fiscal Year 2016 Earnings and Revenue Guidance of EPS of $2.85 to $3.30 and Sales of $900 - $940 million
Announces Quarterly Cash Dividend of $0.15 per Share
September 29, 2015 8:00 AM
FORT WORTH, Texas, Sept. 29, 2015 /PRNewswire/ -- #$%$ Inc. (#$%$), a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets today announced financial results for the three month and six month periods ended August 31, 2015.
Tom Ferguson, president and chief executive officer of #$%$ Inc., commented, "I am pleased with the solid operating performance and the top- and bottom-line results achieved during the second quarter. We continued to make progress improving the operational performance and profitability of the Energy Segment, particularly in our WSI specialty welding business. During the quarter, we shipped some long-anticipated project backlog out of NLI. As we had indicated many times in the past, we expected our second quarter to be seasonally weaker on the smaller number of outages and turnarounds that occur during the summer as is typical. We believe that the strong results of the first half of the year will continue into the second half of the year as we expect solid bookings for the fall outage season, along with the continued expansion of international orders."
The "Street" has SONC coming in at .44 for the Fourth Quarter that should be reported on or about October 15th 2015! All post's welcome! The "Good Dr's In"!
Sonic Celebrates 7.3% Same-Store Sales Growth for Fiscal 2015
Same-Store Sales Growth for the Fourth Fiscal Quarter 2015 Was 4.9%
Fourth Fiscal Quarter 2015 Earnings Conference Call Date Announced
September 14, 2015 6:22 PM
Sonic Corp. (SONC), the nation's largest chain of drive-in restaurants, today announced system-wide same-store sales for its fiscal 2015 of 7.3%. Same-store sales growth reflected an increase of approximately 6.9% at company drive-ins and 7.3% at franchise drive-ins for the year ended August 31, 2015. The Company also announced that system-wide same-store sales for its fourth fiscal quarter increased approximately 4.9%. Same-store sales growth reflected an increase of approximately 4.5% at company drive-ins and approximately 4.9% at franchise drive-ins for the fourth fiscal quarter.
“Fiscal 2015 was a great year for our business and brand. Our multiple initiatives focused on product innovation, multi-day part promotions and effective media, all of which drove annual same-store sales growth of 7.3%. This is particularly noteworthy given our strong performance in fiscal 2014,” said Cliff Hudson, Sonic Corp. CEO. “We also completed $124 million of share repurchases and initiated a quarterly dividend building shareholder value.
TrueBlue Reports Record Second Quarter 2015 Results
Revenue and Adjusted Net Income Per Share Growth of Nearly 40 Percent
July 22, 2015 4:05 PM
TACOMA, Wash.--(BUSINESS WIRE)--
TrueBlue, Inc. (TBI) announced today that revenue for the second quarter of 2015 was $628 million, an increase of 38 percent, compared to revenue of $453 million for the second quarter of 2014. Adjusted net income per share* for the second quarter of 2015 was $0.45, up from $0.32 a year ago, an increase of 39 percent. Adjusted EBITDA* for the second quarter of 2015 was $36.7 million, compared to $25.2 million a year ago, an increase of 46 percent.
“During the quarter, we saw solid demand for both our legacy staffing and acquired brands,” said TrueBlue CEO Steve Cooper. “The addition of Staff Management | SMX, PeopleScout and HRX has grown TrueBlue’s client list by providing customers with workforce management and recruiting process outsourcing (RPO) solutions with worldwide capabilities.”
Cooper expressed confidence that the company’s staffing, workforce management and RPO businesses, combined with its acquisition strategy, have placed TrueBlue in position to drive strong revenue growth.
“We are seeing the benefits of our strategic acquisitions, which are complementing the demand for our core business,” Cooper said. “The end of the second quarter marked the one-year anniversary of the acquisition of Seaton, and as we look back at it a year later, we are extremely pleased with every aspect of the acquisition. PeopleScout, Staff Management | SMX and HRX met all performance expectations while adding top talent and expanding our technological capabilities.”
For the third quarter of 2015, the company estimates revenue in the range of $658 million to $673 million and adjusted net income per share of $0.52 to $0.58.
Sentiment: Strong Buy
LIONSGATE REPORTS RESULTS FOR FIRST QUARTER 2016
Adjusted EBITDA is $70.3 Million; Net Income is $40.7 Million or Basic EPS of $0.28
Company Reports Free Cash Flow of $94.7 Million
Results Reflect Strong Television Performance Driven by 73% Increase in International Licensing
Record Filmed Entertainment Backlog Increases to Over $1.3 Billion
August 6, 2015 4:00 PM
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Aug. 6, 2015 /PRNewswire/ -- Lionsgate (LGF) today reported revenue of $408.9 million, adjusted EBITDA of $70.3 million, adjusted net income of $48.9 million or adjusted basic EPS of $0.33, net income of $40.7 million or basic EPS of $0.28 and free cash flow of $94.7 million for the first quarter of fiscal 2016 (quarter ended June 30, 2015).
The Company's EBITDA and EPS results in the quarter reflected another strong performance from its television production business, driven by a 73% surge in revenue from licensing of international programming, continued momentum at its EPIX pay television partnership and lower theatrical marketing expenses.
"We're pleased to report strong financial results with continued robust free cash flow contributing to the strongest balance sheet in the Company's history," said Lionsgate Chief Executive Officer Jon Feltheimer.
TTI Reports Record Revenue And Profit In The First Half Of 2015
-- Revenue increased 10.0% to a record US$2.5 billion
-- Gross margin improved for the seventh consecutive reporting period by 60 basis points to 35.6%
-- Net profit increased by 16.5%, delivering double-digit growth for a sixth consecutive reporting period
-- Our Milwaukee Tool business continues to take substantial market share with a sales increase of 24.4%
August 19, 2015 10:24 AM
HONG KONG, Aug. 19, 2015 /PRNewswire/ -- Hong Kong-based global power equipment and floor care company Techtronic Industries Co. Ltd. ("TTI"/ The Group) (stock code: 669, ADR symbol: TTNDY) reported that it achieved record results with double-digit growth in revenue, gross profit and net income in the first half of 2015. Profit margins continued to improve with revenues increasing by 10.0% or 14.4% when excluding the effect of foreign currency exchange. Gross margins improved by 60 basis points to 35.6% and net profit increased by 16.5%, delivering double-digit growth for the sixth consecutive reporting period. Basic earnings per share increased by 16.4% to 8.67 US cents.
All regions delivered impressive organic growth, demonstrating the Group's ability to capture market share through innovation. The Power Equipment segment, comprising 79.1% of the Group's revenue, generated double-digit sales growth of 16.7%, outpacing the power tool industry with our Milwaukee Tool business recording a 24.4% increase in global sales. Investments in R&D, geographic expansion and marketing programs have driven the flow of innovative new products, increased distribution reach and expanded market share.
Mr. Joseph Galli, CEO of TTI, commented, "Our focus on driving the gross margin to new levels has yielded the seventh consecutive reporting period of gross margin improvement.
Sentiment: Strong Buy
The Toro Company Reports Record Third Quarter Results
• Third quarter sales increase 7.4 percent to a record $609.6 million driven by increased demand for professional segment products
• Quarterly earnings per share increase 8.0 percent to a record $0.94
• Company raises full year outlook
The Toro Company
August 20, 2015 8:30 AM
The Toro Company (TTC) today reported net earnings of $53.3 million, or $0.94 per share, on a net sales increase of 7.4 percent to $609.6 million for its fiscal third quarter ended July 31, 2015. In the comparable fiscal 2014 period, the company delivered net earnings of $50 million, or $0.87 per share, on net sales of $567.5 million.
“Favorable summer growing conditions, particularly in our domestic markets, coupled with the success of new product introductions drove increased retail sales for the quarter,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “On behalf of our global team, we are pleased to deliver record third quarter results as we benefit from the growth provided by the recent acquisition of the BOSS® line of snow and ice management products as well as ongoing demand for our Toro® and Exmark® branded landscape contractor equipment. We also saw strong growth in our specialty construction business and consistent performance in our residential segment, driven by solid world-wide demand for zero-turn riding mowers and domestic demand for walk power mowers,” said Hoffman.
For the first nine months, Toro reported net earnings of $178 million, or $3.13 per share, on a net sales increase of 8.6 percent to $1.910 billion. In the comparable fiscal 2014 period, the company posted net earnings of $163 million, or $2.82 per share, on net sales of $1.759 billion.
“Now in our fourth quarter, we are encouraged by the strong retail sales results we are seeing across our businesses.