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Acme United Corporation (ACU)

NYSE American - NYSE American Delayed Price. Currency in USD
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27.00-0.47 (-1.69%)
At close: 4:00PM EDT
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Neutralpattern detected
Previous Close27.47
Open27.34
Bid14.80 x 800
Ask26.90 x 1000
Day's Range26.49 - 27.90
52 Week Range17.10 - 28.50
Volume13,262
Avg. Volume9,264
Market Cap90.083M
Beta (5Y Monthly)1.01
PE Ratio (TTM)13.30
EPS (TTM)2.03
Earnings DateOct 21, 2020
Forward Dividend & Yield0.48 (1.75%)
Ex-Dividend DateSep 30, 2020
1y Target Est26.00
  • GlobeNewswire

    Acme United Reports 17% Sales Increase and 49% Net Income Increase for Third Quarter of 2020

    FAIRFIELD, Conn., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended September 30, 2020 were $43.3 million compared to $37.0 million in the third quarter of 2019, an increase of 17%. Net sales for the nine months ended September 30, 2020 were $123.1 million, compared to $108.6 million in the same period in 2019, an increase of 13%. Acme United’s revenues in the third quarter and nine months ended September 30, 2020 included approximately $1.2 million and $3.3 million, respectively, from the sales of First Aid Central products. The Company acquired the assets of Canadian-based First Aid Central, Inc. on January 7, 2020.Net income was $1,579,000 or $0.46 per diluted share for the quarter ended September 30, 2020 compared to $1,059,000, or $0.30 per diluted share, for the comparable period last year, an increase of 49% in net income and 53% in diluted earnings per share. Net income for the nine months ended September 30, 2020 was $6,055,000, or $1.75 per diluted share, compared to $4,537,000, or $1.32 per diluted share, in last year’s same period, an increase of 33% in net income and diluted earnings per share.Chairman and CEO Walter C. Johnsen said, “We achieved very strong results in our third quarter by successfully managing and executing across all of our markets under very difficult circumstances. As in the second quarter of 2020, Acme United benefited from market share gains in first aid and safety supplies, Westcott craft cutting products, Camillus hunting and Cuda fishing products, and e-commerce sales. We have also successfully shifted our business to support mass market and e-commerce customers, which has compensated for weak sales to offices, schools, restaurants, and other businesses adversely impacted by the COVID-19 pandemic.”Mr. Johnsen added, “We are grateful for the focus and dedication of our associates who have produced and shipped our products under very challenging circumstances. Our performance this quarter reflects their hard work.”For the third quarter of 2020, net sales in the U.S. segment increased 12% compared to the same period in 2019 mainly attributable to strong sales of first aid and safety products, primarily due to continued market share gains in the industrial, safety, home improvement, mass market and e-commerce channels. In addition, there was a surge in demand for first aid and safety products related to COVID-19. These sales amounted to approximately $1.5 million in the third quarter and $3.0 million for the nine months ended September 30, 2020.   Net sales for the nine months ended September 30, 2020 increased 11%.    European net sales for the third quarter of 2020 increased 35% in U.S. dollars and 32% in local currency compared to the third quarter of 2019. Net sales for the nine months ended September 30, 2020 increased 17% in both U.S. dollars and local currency compared to the first nine months of 2019. The increases for both the quarter and nine months were mainly due to growth in sales of Westcott cutting products and Camillus knives in the e-commerce channel and continued growth of DMT sharpening products.Net sales in Canada, excluding First Aid Central products, for the third quarter of 2020 increased 25% in both U.S. dollars and local currency compared to the same period in 2019 primarily due to an easing of COVID-19 lockdown restrictions and a shift of back-to-school sales from the second quarter to the third quarter. Net sales for the nine months ended September 30, 2020 decreased 10% in both U.S. dollars and local currency compared to the first nine months of 2019.Gross margin was 34.5% in the third quarter of 2020 versus 35.5% in the comparable period last year mainly due to incurring COVID-19 related costs. Gross margin was 36.2% in the nine months ended September 30, 2020, compared to 36.6% in the same period in 2019.The Company’s debt less cash on September 30, 2020 was $34.4 million compared to $35.9 million on September 30, 2019. During the twelve-month period ended September 30, 2020, the Company paid approximately $2.1 million for the acquisition of the assets of First Aid Central, distributed $1.6 million in dividends on its common stock, and generated $6.5 million in free cash flow. Inventory increased approximately $9 million due to anticipated growth in our business as well as the acquisition of product to offset the impact of potential supply chain interruptions related to COVID-19.Conference Call and Webcast Information Acme United will hold a conference call to discuss its quarterly results, which will be broadcast on Wednesday, October 21, 2020, at 12:00 p.m. EDT. To listen or participate in a question and answer session, dial 800-353-6461. International callers may dial 334-323-0501. You may access the live webcast of the conference call through the Investor Relations section of the Company’s website, www.acmeunited.com. A replay may be accessed under Investor Relations, Audio Archives.About Acme United ACME UNITED CORPORATION is a leading worldwide supplier of innovative safety solutions and cutting technology to the school, home, office, hardware, sporting goods and industrial markets. Its leading brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Pac-Kit®, Spill Magic®, Westcott®, Clauss®, Camillus®, Cuda®, and DMT®. For more information, visit www.acmeunited.com.  Forward Looking Statements Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including the impact that the global COVID-19 pandemic has had and will continue to have on the Company’s business, operations and financial results. These include the severity and duration of the pandemic, including whether there is a “second wave,” the effect of measures taken by the Company to limit the spread of the disease at our offices and distribution centers, further actions that may be taken by governmental authorities or by businesses or individuals on their own initiative in response to the pandemic, the pace of recovery when an effective vaccine is widely available or when the pandemic otherwise subsides and the heightened impact the pandemic has on many of the risks described herein, including without limitation risks relating to the on-going world-wide economic downturn and disruptions in our supply chain,, any of which could adversely impact the Company’s ability to manufacture, source or distribute its products, both domestically and internationally.These risks and uncertainties further include, without limitation, the following: (i) changes in the Company’s plans, strategies, objectives, expectations and intentions, which may be made at any time at the discretion of the Company; (ii) the impact of uncertainties in global economic conditions, including the impact on the Company’s suppliers and customers; (iii) changes in client needs and consumer spending habits; (iv) the impact of competition, (v) the impact of technological changes including specifically the growth of online marketing and sales activity; (vi) the Company’s ability to manage its growth effectively, including its ability to successfully integrate any business it might acquire; (vii) the Company’s ability to effectively manage its inventory in a rapidly changing business environment; (viii) currency fluctuations; (ix) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; and (x) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.CONTACT: Paul G. Driscoll Acme United Corporation 55 Walls Drive Fairfield, CT 06824 Phone: (203) 254-6060 FAX: (203) 254-6521 ACME UNITED CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME THIRD QUARTER REPORT 2020  (Unaudited)            Three Months Ended Three Months Ended Amounts in 000's except per share data September 30, 2020 September 30, 2019                Net sales$43,316  $36,995  Cost of goods sold 28,360   23,861  Gross profit 14,956   13,134  Selling, general, and administrative expenses 12,832   11,408  Operating income 2,124   1,726  Interest expense 173   478  Interest income (5)  (9)  Interest expense, net 168   469  Other (income) expense, net  (35)  40  Total other expense, net  133   509  Income before income tax expense 1,991   1,217  Income tax expense 412   158  Net income$1,579  $1,059           Shares outstanding - Basic 3,340   3,352   Shares outstanding - Diluted 3,461   3,486          Earnings per share - Basic$0.47  $0.32  Earnings per share - Diluted 0.46   0.30          ACME UNITED CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME THIRD QUARTER REPORT 2020 (cont.) (Unaudited)                    Nine Months Ended Nine Months Ended Amounts in 000's except per share data September 30, 2020 September 30, 2019         Net sales$123,133  $108,585  Cost of goods sold 78,594   68,877  Gross profit 44,539   39,708  Selling, general, and administrative expenses 36,023   32,679  Operating income 8,516   7,029  Interest expense 742   1,491  Interest income (20)  (28)  Interest expense, net 722   1,463  Other expense, net  2   52  Total other expense, net  724   1,515  Income before income tax expense 7,792   5,514  Income tax expense 1,737   977  Net income$6,055  $4,537           Shares outstanding - Basic 3,343   3,352   Shares outstanding - Diluted 3,454   3,446          Earnings per share - Basic$1.81  $1.35  Earnings per share - Diluted 1.75   1.32                  ACME UNITED CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS THIRD QUARTER REPORT 2020 (Unaudited)         Amounts in 000's September 30, 2020 September 30, 2019         Assets:      Current assets:       Cash and cash equivalents$3,031  $5,698   Accounts receivable, net 32,154   30,635   Inventories 48,351   38,970   Prepaid expenses and other current assets 2,142   1,787  Total current assets 85,678   77,090           Property, plant and equipment, net 14,341   14,006   Operating lease right of use asset 2,190   2,123   Intangible assets, less accumulated amortization16,072   16,107   Goodwill 4,696   4,696   Other assets 40   202  Total assets$123,017  $114,224         Liabilities and stockholders' equity:      Current liabilities:       Accounts payable$9,251  $7,217   Operating lease liability - short term 847   920   Mortgage payable - short term 267   267   Other accrued liabilities 13,376   8,202  Total current liabilities 23,741   16,606   Long term debt 30,703   38,125   Note Payable (PPP) 3,508   -   Mortgage payable - long term 2,978   3,244   Operating lease liability - long term 1,422   1,210   Other non-current liabilities 69   15  Total liabilities  62,421   59,200  Total stockholders' equity 60,596   55,024  Total liabilities and stockholders' equity$123,017  $114,224

  • GlobeNewswire

    Acme United Corporation Third Quarter 2020 Earnings Conference Call

    FAIRFIELD, Conn., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American: ACU) will release its financial results for the Third Quarter of 2020 on Wednesday, October 21, 2020, at 9:00 a.m. EDT. A conference call to discuss these results will be broadcast over the Internet on Wednesday, October 21, 2020, at 12:00 p.m. EDT. To listen or participate in a question and answer session, dial 800-353-6461. International callers may dial 334-323-0501. Access to the live webcast of the conference call can be found in the Investor Relations section of the Company’s website, www.acmeunited.com. A replay may be accessed under Investor Relations, Audio Archives.Acme United Corporation is a leading worldwide supplier of innovative safety solutions and cutting technology to the school, home, office, hardware, sporting goods and industrial markets. Its leading brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Pac-Kit®, Spill Magic®, Westcott®, Clauss®, Camillus®, Cuda®, and DMT®.ContactsAcme United Corporation Paul G. Driscoll, 203-254-6060 pdriscoll@acmeunited.com

  • Acme United (NYSEMKT:ACU) Could Be A Buy For Its Upcoming Dividend
    Simply Wall St.

    Acme United (NYSEMKT:ACU) Could Be A Buy For Its Upcoming Dividend

    Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Acme United...