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$PLL 3Q15 10-Q: 3Q15-end cash & cash equivalents were $1.09Bil vs. $0.87Bil in 3Q14. Total current assets were $2.18Bil. In the nine months ended April 30, 2015, PLL paid $300,000 under an Accelerated Share Repurchase agreement. Upon completion of the transaction, the Company received a total of 3,461 shares with an average price per share of $86.6
Specialty manufacturer $ESL appointed Stephen Nolan as CFO, effective February 5, 2018, to succeed Robert George. Most recently, Nolan served Vista Outdoor as CFO. Earlier, he served Alliant Techsystems for a decade, in various strategic and operational management roles. Meanwhile, George will continue with Esterline in a special advisory role.
Oilfiled technology company $MDR has appointed Ian Prescott as VP of Asia region, effective January 8. He succeeds Hugh Cuthbertson who will be retiring soon. Most recently, Ian served SNC-Lavalin as SVP and Director of Asia Pacific. Earlier, he held leadership positions in PAE plc and Aker Kvaerner.
$MDR, a technology company in the energy industry, received a major contract from Maersk Oil to provide engineering, procurement, construction and commissioning services for the Tyra Redevelopment project in North Sea. Work under the contract is expected to start early next year, and the lump sum will be reflected in McDermott’s 4Q17 backlog.
Net sales of $ATU’s Industrial segment advanced 11% YoY to $97MM in 1Q18, supported by strong demand for standard industrial tools and positive currency exchange rates. Sales of Engineered Solutions segment climbed 24% to 116MM, while Energy segment sales declined 10% to $76MM.
$ATU said it is looking for non-GAAP EPS of $0.10-$0.15 for 2Q18, on projected net sales between $265MM and 275MM. The company reaffirmed its FY18 sales guidance of $1.10-1.13Bil, with an estimated 1-3% gain in core sales. Actuant confirmed its full-year EPS outlook in the $1.05-1.15 range. Free cash flow is expected to be between $85MM and $95MM.
Earnings of diversified manufacturing firm $ATU remained broadly unchanged in 1Q18, while sales increased helped by favorable exchange rates. Net income was $5M or $0.09 per share, in line with the prior-year figures. Non-GAAP earnings edged up to $0.19 per share. Sales advanced 9% to $289MM, with core sales rising 6% owing to strong volume growth.
$MDR and $CBI agreed to combine in a transaction that is expected to be cash accretive, excluding one-time costs, within the first year after closing. It is also expected to generate annualized cost synergies of $250MM in 2019. This is in addition to the $100MM cost reduction program that $CBI expects to have fully implemented by the end of 2017.
$LII is reiterating its guidance for 2017 revenue growth of 5-7%, with a 0.5% benefit from FX. GAAP EPS from continuing operations is expected to be $7.67-7.97 while adjusted EPS from continuing operations is expected to be $7.75-8.05. CapEx is expected to be approx. $100MM.
$ZBRA is helping reduce car inventory time at Greenway Auto Group and improve the overall sales process. Greenway Auto Group implemented CP Handheld Technologies’ VINpoint software solution coupled with Zebra Technologies TC75 touch computers and ZT230 industrial printers to locate specific cars faster, save time and improve inventory accuracy.
$ATU closed divestiture of Viking SeaTech business to Acteon Group Ltd., and simultaneously acquired Mirage Machines Ltd. from Acteon. Total consideration included proceeds of about $12MM for Viking and payment of about $16MM for Mirage. Also, $ATU will record final impairment and divestiture charges in 2Q18 of about $15-20MM.
$PNR has named Lynnette Heath as EVP & Chief Human Resources Officer, Jon Lammers as EVP, General Counsel & Secretary, and Ben Sommerness as EVP, Chief Growth and Strategy Officer for its Electrical business, which is expected to separate from the Water business in 2Q18, forming two independent, publicly-traded companies.
$AGCO terminated the agreement it previously entered into with the two largest shareholders of Kepler Weber S.A., PREVI - Caixa de Previdencia dos Funcionarios do Banco do Brasil and BB - Banco de Investimento S.A., to acquire their blocks of shares totaling about 35% of the outstanding shares.