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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Tri Tech Holding Inc (CE) | USOTC:TRITF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.000009 | 900.00% | 0.00001 | 0.00001 | 0.00001 | 0.00001 | 1,000 | 20:19:04 |
Luxfer Group Lags Earnings Est.
Luxfer Group (LXFR) reported its first quarter 2013 financial results on May 7, 2013. Adjusted net income in the quarter plummeted 15.3% year over year and came in at $9.4 million. Earnings per ADS in the quarter were 34 cents, missing the Zacks Consensus Estimate of 43 cents.
Revenue
Revenues for Luxfer Group were down 13.4% to $122.4 million. Results were negatively impacted by negative foreign currency translation to the tune of $1.5 million.
Gas Cylinders Division generated roughly $68.4 million in revenues, up 11.9% year over year while the Elektron Division’s revenues amounted to $54.0 million, down 32.8% year over year.
Margins
Cost of sales in the first quarter went down 12.6% year over year and represented 76.9% of total revenue; up slightly from 76.2% in the year-ago quarter. Distribution and administrative costs, as a percentage of total revenue, stood at 1.3% and 9.6%, respectively. Operating margin in the quarter was 11.8%, down 110 basis points year over year.
Balance Sheet
Exiting the first quarter 2013, cash and short-term deposits balance of Luxfer Group stood at $37.0 million, down 8.0% from $40.2 million in the previous quarter. Bank and other loans at the end of the quarter stood at $63.5 million.
Cash Flow
Net cash flow from operating activities in the quarter was $9.6 million, flat year over year while capital expenditure was at $3.9 million versus $3.1 million in the year-ago quarter.
Outlook
Management at Luxfer Group anticipates trading profit to be $1.5-$2.5 million, higher sequentially in the second quarter of 2013 while roughly $2.0-$5.0 million higher year over year in 2013.
Luxfer Group currently has a market capitalization of $506 million and carries a Zacks Rank #2 (Buy). Other stocks to watch out for are Graco Inc. (GGG), Middleby Corp. (MIDD) and Tri-Tech Holding, Inc. (TRIT), each with a Zacks Rank #1 (Strong Buy).
1 Year Tri Tech (CE) Chart |
1 Month Tri Tech (CE) Chart |
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