$AMWD (American Woodmark Corp.)

$AMWD {{ '2016-08-23T12:23:19+0000' | timeago}} • Announcement

$AMWD's net cash from operations activities for 1Q17 grew to $32.9MM from $17.7MM last year, on higher operating profitability and lower increases in customer receivables. Net cash used by investing activities increased to $40.6MM from $15.3MM, on a $35MM investment in certificates of deposit.

$AMWD {{ '2018-01-02T12:08:16+0000' | timeago}} • Announcement

$AMWD completed purchase of RSI Home Products Inc. for consideration consisting of 1.46MM newly issued shares, about $354MM in net cash and the assumption of about $589MM of RSI debt.

$AMWD {{ '2017-12-01T18:00:19+0000' | timeago}} • Announcement

$AMWD agreed to buy kitchen and bath cabinetry and home storage products manufacturer RSI Home Products Inc. The acquisition is expected to be immediately accretive to $AMWD's profit margins and adjusted EPS. The transaction is expected to close in $AMWD's quarter that ends Jan. 31, 2018.

$AMWD {{ '2017-12-01T17:58:10+0000' | timeago}} • Announcement

$AMWD agreed to buy kitchen and bath cabinetry and home storage products manufacturer RSI Home Products Inc. The implied enterprise value for RSI is about $1.075Bil, including $140MM in $AMWD common stock to be issued to RSI shareholders, about $346MM in cash and about $589MM of RSI debt to be assumed by $AMWD.

$AMWD {{ '2017-12-01T12:25:34+0000' | timeago}} • Announcement

For $AMWD, net sales in 2Q18 rose 4% to $274.8MM pushing the net income up 11% to $19.8MM or $1.21 per diluted share.

$AMWD {{ '2017-05-30T15:56:41+0000' | timeago}} • Webcast

$AMWD expects the rate of promotional spending seen in 2H17 to continue into FY18. In terms of input costs, lumber has continued to be stable and the company expects this to continue going forward. $AMWD has increases built into the outlook for fuel as well as carrier expenses. $AMWD also expects inflation for some purchasing material items.

$AMWD {{ '2017-05-30T15:37:58+0000' | timeago}} • Webcast

$AMWD posted a gross margin of 22.3% in 4Q17, a 200BP improvement over 4Q16. Incremental gross margin was favourable at 49% for 4Q17. For FY17, gross margin was 21.8%, an improvement of 70BP over FY16. Incremental gross margin was strong at 30% for FY17.

$AMWD {{ '2017-05-30T15:33:59+0000' | timeago}} • Webcast

$AMWD grew its dealer channel by 10% in 4Q17 and 13% in FY17. Demand remains strong but it continues to be at a higher price point with a more affluent consumer. The company’s home center business grew at 1% for 4Q17. Going forward, $AMWD expects growth to track closely with the overall home center cabinet business.

$AMWD {{ '2017-05-30T12:54:50+0000' | timeago}} • Announcement

$AMWD's selling, general and administrative costs for 4Q17 increased to 12.1% of net sales from 11.1% in the previous year quarter. $AMWD's expense ratio was negatively impacted by corporate business development expenses related to a potential M&A target that the company ultimately decided not to pursue.

$AMWD {{ '2017-05-30T12:52:57+0000' | timeago}} • Announcement

$AMWD reported a rise in 4Q17 earnings driven by higher sales volume, lower labor benefit costs and improved operating efficiency. Net income rose to $17.35MM or $1.06 per share from $13.37MM or $0.81 per share last year. Net sales grew to $258.74MM from $240.92MM. Excluding charges, EPS increased to $1.13 from $0.86.

$AMWD {{ '2017-05-26T15:00:55+0000' | timeago}} • Announcement

$AMWD said Chairman Kent Guichard has declined to seek re-election to its BoD at the next annual shareholders meeting. Cary Dunston, President and CEO, will assume the additional role of Chairman of the Board subsequent to the company's 2017 shareholders meeting to be held on Aug. 24, 2017.

$AMWD {{ '2017-02-27T12:24:25+0000' | timeago}} • Announcement

$AMWD's gross margin for 3Q17 increased to 20.7% from 20.4% in the previous year quarter. The gross margin in the current quarter was favorably impacted by higher sales volume and improved operating efficiency.

$AMWD {{ '2017-02-27T12:23:07+0000' | timeago}} • Announcement

$AMWD reported a rise in 3Q17 earnings as it experience growth in both the new construction and remodel channels during the latest quarter. Net income rose to $14.55MM or $0.89 per share from $12.01MM or $0.73 per share last year. Net sales grew to $249.29MM from $218.63MM.

$AMWD {{ '2016-12-02T11:09:47+0000' | timeago}} • Announcement

$AMWD said it will be building a new corporate headquarters in Winchester, Virginia. The new space will consolidate employees that currently occupy four buildings in Winchester, Virginia and Frederick County, Virginia, in early 2018. The building will be self-funded for about $30MM.

$AMWD {{ '2016-12-02T11:08:22+0000' | timeago}} • Announcement

$AMWD's BoD authorized an additional stock repurchase program of up to $50MM of its outstanding common shares. This is in addition to the $15MM remaining from November 2014 authorization and $1.5 remaining from the November 2015 authorization. Management expects to fund share repurchases using available cash and cash generated from operations.

$AMWD {{ '2016-11-23T11:27:10+0000' | timeago}} • Webcast

$AMWD said it continues to explore expansion opportunities, either through acquisitions or via greenfield or brownfield.  It is working with its partner Baird, exploring acquisition opportunities either below and/or above its current level. Alternatively, it is considering entering new markets directly via its own greenfield or brownfield projects.

$AMWD {{ '2016-11-22T11:54:25+0000' | timeago}} • Announcement

$AMWD posted 2Q17 earnings of $17.6MM or $1.07 per diluted share, down 3% from a year ago, hurt by $0.03 per diluted share from a higher tax rate due to a reduction in the domestic production deduction benefit. Net sales grew 3% to $264.1MM, helped by growth in both the new construction and dealer channels.

$AMWD {{ '2016-08-23T15:47:14+0000' | timeago}} • Webcast

Nick Coppola of Thomson Research Group asks about why the company is more interested in growing organically vs. M&A. $AMWD said there is not a lot of players out there that can be looked at for acquiring. They have to be a strong strategic fit and fit culturally. $AMWD is committed to expand in the semi-custom space organically if not through M&A.

$AMWD {{ '2016-08-23T15:38:31+0000' | timeago}} • Webcast

$AMWD said combined home center and dealer remodel revenues were up 3% for 1Q17, with home centers growing 1% and Waypoint growing 13%. The company added that it expects to improve its operating margins for FY17, given the strong financial performance in 1Q17.

$AMWD {{ '2016-08-23T15:29:53+0000' | timeago}} • Webcast

$AMWD said that for 1Q17 the company grew sales 12% YoverY, with the key drivers being new construction and dealer channels. In new construction, the company had a strong quarter, growing the Timberlake business 19% over the previous year.

$AMWD {{ '2016-08-23T12:23:19+0000' | timeago}} • Announcement

$AMWD's net cash from operations activities for 1Q17 grew to $32.9MM from $17.7MM last year, on higher operating profitability and lower increases in customer receivables. Net cash used by investing activities increased to $40.6MM from $15.3MM, on a $35MM investment in certificates of deposit.

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