$SXI (Standex International Corporation)

$SXI {{ '2016-08-25T18:44:48+0000' | timeago}} • Webcast

David Cohen of Midwood Capital asks for an update on $SXI's tax rate. CFO Tom DeByle replied that the company had a 13.9% GAAP tax rate. The company's base rate is basically 35% and its foreign rate is around 23%, and $SXI expects to get back to historic norms of about 29% in 2017, added Tom.

$SXI {{ '2017-08-28T16:04:24+0000' | timeago}} • Webcast

$SXI said in its Refrigeration business, there are two manufacturing plants which the company is evaluating with regards to restructuring plans. The company is conducting strategic assessments and evaluating options. $SXI believes it could incur up to approx. $5MM in restructuring costs going forward in future.

$SXI {{ '2017-08-28T15:46:06+0000' | timeago}} • Webcast

During 4Q17, in $SXI’s Refrigeration business, revenues grew 5.3% due to sales to the drug retail and dollar store segment. In Cooking, sales were down 10.3% mainly driven by the proactive rationalization of low margin products. Specialty Solutions sales were up 0.8% versus 4Q16.

$SXI {{ '2017-08-28T14:29:12+0000' | timeago}} • Announcement

Sounding an optimistic note for FY18, $SXI expects the strong momentum in Engraving, Engineering Technologies and Electronics to continue. In Hydraulics, it has plans to capitalize on a healthy pipeline of growth opportunities. In the coming fiscal, the company also expects to deploy the Standex Value Creation System to drive shareholder value.

$SXI {{ '2017-08-28T14:25:17+0000' | timeago}} • Announcement

The Food Service Equipment sales of $SXI grew by 7.9% in 4Q17 riding on the Horizon Scientific acquisition. Negative foreign exchange and RPM divestiture had their effect on Engraving sales, which declined by 7.5%, but the Engineering sales went north by 26%. The Electronics sales recorded 40.1% spike in the quarter with an organic growth of 4.1%.

$SXI {{ '2017-08-28T14:18:26+0000' | timeago}} • Announcement

Hauled by a lively sales growth in the Electronics and Engineering segments, $SXI, a multi-industry manufacturer, logged a net income of $14.1MM, or $1.11 per diluted share in 4Q17, compared to $12.1MM, or $0.94 per diluted share a year ago. The net sales had a YoY growth of 12% at $217.1MM, an upshot of better organic sales and acquisitions.

$SXI {{ '2017-08-02T16:54:14+0000' | timeago}} • Announcement

$SXI acquired Italy-based Piazza Rosa Group, a provider of mold and tool treatment and finishing services. The acquisition is expected to be accretive to EPS of $0.02-0.03 in FY18 and $0.06-0.07 in FY19, excluding purchase accounting and acquisition costs. Piazza Rosa's senior management team will be continuing with the company.

$SXI {{ '2017-07-28T14:32:18+0000' | timeago}} • Announcement

$SXI’s BoD has declared a quarterly cash dividend of $0.16 per share, which is payable on Aug. 24, 2017 to shareholders of record as on Aug. 7, 2017.

$SXI {{ '2017-04-03T19:03:17+0000' | timeago}} • Announcement

$SXI has closed the acquisition of OKI Sensor Device Corporation. As part of Standex, OKI Sensor Device Corporation will now be named Standex Electronics Japan Ltd. Standex continues to expect the acquisition to add to its EPS by $0.08 to $0.11 in FY17 and $0.40 to $0.44 in FY18.

$SXI {{ '2017-02-03T14:21:51+0000' | timeago}} • Announcement

$SXI said it will continue to capitalize on aviation opportunities in Engineering Technologies and focus on growth laneways in Hydraulics. In Electronics, $SXI is focused on completing the new OKI Sensor Device acquisition. As looking into the future, $SXI's balance sheet is well positioned to fund growth, CAPEX and acquisitions.

$SXI {{ '2017-02-03T14:20:42+0000' | timeago}} • Announcement

$SXI believes that it is now at the trough in Refrigeration and expects sales in 2H17 to increase. The company also anticipates renewed growth at Engraving in 3Q17 and 4Q17 as a result of North American automotive program launches and growth in Europe and Asia.

$SXI {{ '2017-02-03T14:18:13+0000' | timeago}} • Announcement

$SXI reported a decline in 2Q17 earnings as a 4.9% fall in organic sales, negative foreign exchange effect, and U.S. Roll, Plate and Machinery divestiture impact drove sales lower. Net income fell to $10.26MM or $0.80 per share from $12.37MM or $0.96 per share last year. Net sales dropped to $173.85MM from $181.95MM.

$SXI {{ '2017-02-02T20:32:48+0000' | timeago}} • Announcement

$SXI agreed with Japan-based OKI Electric Industry to acquire its wholly owned subsidiary, OKI Sensor Device Corp., a designer and supplier of magnetic reed switches, for undisclosed terms. The acquisition should be accretive to EPS by $0.08-$0.11 in FY17 and $0.40-$0.44 in FY18. The deal is expected to close on or about March 31, 2017.

$SXI {{ '2017-01-26T18:25:43+0000' | timeago}} • Announcement

$SXI BoD declared a quarterly cash dividend of $0.16 per share, payable Feb. 28, 2017 to shareholders of record Feb. 9, 2017.

$SXI {{ '2016-08-25T18:44:48+0000' | timeago}} • Webcast

David Cohen of Midwood Capital asks for an update on $SXI's tax rate. CFO Tom DeByle replied that the company had a 13.9% GAAP tax rate. The company's base rate is basically 35% and its foreign rate is around 23%, and $SXI expects to get back to historic norms of about 29% in 2017, added Tom.

$SXI {{ '2016-08-25T18:15:14+0000' | timeago}} • Webcast

In FY17, $SXI expects its CapEx to be in the range of $26-28MM, which includes a $8MM carryover of spending from FY16. Approx. $19MM of CapEx in FY17 will be to drive sales and improve productivity and the remainder will be maintenance capital. Depreciation and amortization is projected to be in the range of $21-23MM in FY17.

$SXI {{ '2016-08-25T18:04:49+0000' | timeago}} • Webcast

$SXI ended 4Q16 with a net cash position of approx. $29.9MM as compared to a net debt position of $5.6MM a year earlier. The company's balance sheet leverage ratio of net debt to capital of negative 8.8% compares with net debt to capital of 1.6% a year ago.

$SXI {{ '2016-08-25T18:02:17+0000' | timeago}} • Webcast

$SXI said that the net working capital at the end of 4Q16 was $132.3MM compared with $138MM a year earlier. The decrease was mainly related to lower overall sales volume in Food Service and Engineering Technologies segments in 4Q16. Working capital turns were 5.9 versus 5.8 a year earlier.

$SXI {{ '2016-08-25T17:58:36+0000' | timeago}} • Webcast

$SXI said in 4Q16 gross margin grew on a GAAP and a non-GAAP basis despite the drop in revenue. Adjustments from GAAP to non-GAAP operating income were $8MM. The company said the GAAP tax rate of 13.9% in 4Q16 was due to the impact of the RPM divestiture along with a charitable contribution of vacant real estate and the mix of US to foreign income.

$SXI {{ '2016-08-25T17:46:30+0000' | timeago}} • Webcast

$SXI said its GAAP EPS in FY16 was $4.09, down 5.1% and adjusted EPS was up 0.7% to $4.59, as a result of the company's operational improvement initiatives. The company delivered free cash flow conversion of 121% in FY16.

$SXI {{ '2016-08-25T12:56:21+0000' | timeago}} • Announcement

$SXI's sales from Food Service Equipment for 4Q16 slid 9%, on continued softness in Refrigeration. Engraving sales rose 3.2% on 7.7% organic growth. Engineering Technologies sales fell 8.7%, on lower demand in oil and gas markets. Electronics Products sales rose 11% on purchase of Northlake, and Hydraulics Products grew 15.3%.

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