Form 8-K METTLER TOLEDO INTERNATI For: May 05
Tweet
Share
E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): | May 5, 2016 |
Mettler-Toledo International Inc.
(Exact name of registrant as specified in its charter)
Delaware | File No. 001-13595 | 13-3668641 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
1900 Polaris Parkway Columbus, OH and Im Langacher, P.O. Box MT-100 CH Greifensee, Switzerland | 43240 and 8606 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: 1-614-438-4511 and +41-44-944-22-11
(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 2.02 Results of Operations and Financial Condition
The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.” The information furnished in this Form 8-K and the Exhibit attached hereto shall not be treated as filed for purposes of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
On May 5, 2016, Mettler-Toledo International Inc. (“Mettler-Toledo”) issued a press release (the “Release”) setting forth its financial results for the three months ended March 31, 2016. A copy of the Release is furnished hereto as Exhibit 99.1 to this report.
Non-GAAP Financial Measures
Mettler-Toledo supplements its U.S. GAAP results with non-GAAP financial measures. The principal non-GAAP financial measures Mettler-Toledo uses are Adjusted Earnings per Share, Adjusted Operating Income, Free Cash Flow and Local Currency Sales Growth.
Adjusted Earnings per Share
Mettler-Toledo defines Adjusted Earnings per Share as diluted earnings per common share excluding certain one-time discrete tax items, amortization of purchased intangible assets, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax. The most directly comparable U.S. GAAP financial measure is diluted earnings per common share.
Mettler-Toledo believes that Adjusted Earnings per Share is important supplemental information for investors. Mettler-Toledo uses this measure because it excludes certain one-time discrete tax items, amortization of purchased intangibles, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax, which management believes are not directly related to current and ongoing operations thereby providing investors with information that helps to compare ongoing operating performance.
Adjusted Earnings per Share is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Adjusted Earnings per Share is not intended to represent diluted earnings per common share under U.S. GAAP and should not be considered as an alternative to diluted earnings per common share as an indicator of Mettler-Toledo’s performance because of the following limitations.
Limitations of Mettler-Toledo’s non-GAAP measure, Adjusted Earnings per Share
Mettler-Toledo’s non-GAAP measure, Adjusted Earnings per Share, has certain material limitations as follows:
It does not include certain one-time discrete tax items, amortization expense of purchased intangibles, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax. Because one-time discrete tax items, amortization of purchased intangibles, restructuring charges and certain other one-time charges are components of diluted earnings per share under U.S. GAAP, any measure that excludes one-time discrete tax items, amortization of purchased intangibles, restructuring charges and certain other one-time charges, has material limitations.
2
Adjusted Operating Income
Mettler-Toledo defines Adjusted Operating Income as gross profit less research and development and selling, general and administrative expenses before amortization, interest, restructuring charges and other charges (income), net and taxes. The most directly comparable U.S. GAAP financial measure is earnings before taxes.
Mettler-Toledo believes that Adjusted Operating Income is important supplemental information for investors. Adjusted Operating Income is used internally as the principal profit measurement by its segments in their reporting to management. Mettler-Toledo uses this measure because it excludes amortization, interest, restructuring charges and other charges (income), net and taxes, which are not allocated to the segments.
On a consolidated basis, Mettler-Toledo also believes Adjusted Operating Income is an important supplemental method of measuring profitability. It is used internally by senior management for measuring profitability and setting performance targets for managers, and has historically been used as one of the means of publicly providing guidance on possible future results. Mettler-Toledo also believes that Adjusted Operating Income is an important performance measure because it provides a measure of comparability to other companies with different capital or legal structures, which accordingly may be subject to disparate interest rates and effective tax rates, and to companies which may incur different amortization expenses or impairment charges related to intangible assets.
Adjusted Operating Income is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Adjusted Operating Income is not intended to represent operating income under U.S. GAAP and should not be considered as an alternative to earnings before taxes as an indicator of Mettler-Toledo’s performance because of the following limitations.
Limitations of Mettler-Toledo’s non-GAAP measure, Adjusted Operating Income
Mettler-Toledo’s non-GAAP measure, Adjusted Operating Income, has certain material limitations as follows:
• | It does not include interest expense. Because Mettler-Toledo has borrowed money to finance some of its operations, interest is a necessary and ongoing part of its costs and has assisted Mettler-Toledo in generating revenue. Therefore any measure that excludes interest expense has material limitations. | |
• | It excludes amortization expense. Because this item is recurring, any measure that excludes amortization expense has material limitations. | |
• | It excludes other charges (income), net. Because other charges (income), net is a component of operating income under U.S. GAAP, any measure that excludes other charges (income), net, has material limitations. | |
• | It excludes restructuring charges. Because restructuring charges are a component of operating income under U.S. GAAP, any measure that excludes restructuring charges, has material limitations. | |
Free Cash Flow
Mettler-Toledo defines Free Cash Flow as net cash provided by operating activities including proceeds from the sale of property, plant and equipment, less capital expenditures, before restructuring payments and excess tax benefits from share-based payment arrangements. The most directly comparable U.S. GAAP financial measure is net cash provided by operating activities.
3
Mettler-Toledo believes Free Cash Flow is important supplemental information for investors. It is used internally by senior management for measuring operating cash flow generation and setting performance targets for managers, and has historically been used as one of the means of providing guidance on possible future cash flows.
Free Cash Flow is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Free Cash Flow is not intended to represent net cash provided by operating activities recorded under U.S. GAAP and should not be considered as an alternative to net cash provided by operating activities as an indicator of Mettler-Toledo’s performance because of the following limitations.
Limitations of Mettler-Toledo’s non-GAAP measure, Free Cash Flow
Mettler-Toledo’s non-GAAP measure, Free Cash Flow, has certain material limitations as follows:
• | It includes proceeds from the sale of property, plant and equipment and purchases of property, plant and equipment, which are not considered to be components of net cash provided by operating activities under U.S. GAAP. Therefore any measure that includes proceeds from the sale of property, plant and equipment and purchases of property, plant and equipment has material limitations. | |
• | It excludes restructuring payments and excess tax benefits from share-based payment arrangements, which are considered to be components of net cash provided by operating activities under U.S. GAAP. Therefore any measure that excludes these items has material limitations. | |
Local Currency Sales Growth
Mettler-Toledo defines Local Currency Sales Growth as sales growth excluding the effect of currency exchange rate fluctuations that result from translating activity outside of the United States into U.S. dollars. The most directly comparable U.S. GAAP financial measure is U.S. dollar sales growth.
Mettler-Toledo believes that Local Currency Sales Growth is important supplemental information for investors. Mettler-Toledo believes local currency information provides a helpful assessment of business performance and a useful measure of results between periods.
Local Currency Sales Growth is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Local Currency Sales Growth is not intended to represent U.S. dollar sales growth under U.S. GAAP and should not be considered as an alternative to U.S. dollar sales growth as an indicator of Mettler-Toledo’s performance because of the following limitations.
Limitations of Mettler-Toledo’s non-GAAP measure, Local Currency Sales Growth
Mettler-Toledo’s non-GAAP measure, Local Currency Sales Growth, has certain material limitations as follows:
It does not include the effect of currency exchange rate fluctuations that result from translating activity outside of the United States into U.S. dollars. Because the effect of changes in foreign currency exchange rates is a component of U.S. dollar sales growth under U.S. GAAP, any measure that excludes the effect of changes in foreign currency exchange rates, has material limitations.
4
Adjusted Earnings per Share, Adjusted Operating Income, Free Cash Flow and Local Currency Sales Growth should not be relied upon to the exclusion of U.S. GAAP financial measures, but reflect additional measures of comparability and means of viewing aspects of Mettler-Toledo’s operations that, when viewed together with its U.S. GAAP results and the accompanying reconciliations to net earnings, net cash provided by operating activities and diluted earnings per share, provide a more complete understanding of factors and trends affecting its business.
Because Adjusted Earnings per Share, Adjusted Operating Income, Free Cash Flow and Local Currency Sales Growth are not standardized, it may not be possible to compare with other companies’ non-GAAP financial measures having the same or similar names. We strongly encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.
The Release provides a reconciliation of Adjusted Earnings per Share, Adjusted Operating Income and Free Cash Flow to the most comparable financial measures recorded under U.S. GAAP. The Release also presents Local Currency Sales Growth in conjunction with its most comparable financial measure recorded under U.S. GAAP.
5
Item 9.01 Financial Statements and Exhibits
Exhibit No. | Description | |||
99.1 | Press release, dated May 5, 2016, issued by Mettler-Toledo International Inc. | |||
6
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
METTLER-TOLEDO INTERNATIONAL INC. | ||||
Dated: | May 5, 2016 | By: | /s/ Shawn P. Vadala | |
Shawn P. Vadala | ||||
Chief Financial Officer | ||||
7
FOR IMMEDIATE RELEASE | Exhibit 99.1 | |
METTLER-TOLEDO INTERNATIONAL INC. REPORTS
FIRST QUARTER 2016 RESULTS
- - Continued Solid Earnings Growth - -
COLUMBUS, Ohio, USA - May 5, 2016 - Mettler-Toledo International Inc. (NYSE: MTD) today announced first quarter results for 2016. Provided below are the highlights:
• | Sales in local currency increased 4% in the quarter compared with the prior year. Reported sales increased 1% as currency reduced sales growth by 3% in the quarter. |
• | Net earnings per diluted share as reported (EPS) were $2.40, compared with $2.19 in the prior- year period. Adjusted EPS was $2.46, an increase of 9% over the prior-year amount of $2.25. Adjusted EPS is a non-GAAP measure and excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items. A reconciliation to EPS is provided on the last page of the attached schedules. |
First Quarter Results
Olivier Filliol, President and Chief Executive Officer, stated, “We had a solid start to the year with our first quarter results. Americas had another quarter of good sales growth while Europe came in a little below our expectations. Emerging markets had solid growth including growth in China. With good execution and benefit of productivity initiatives, we achieved solid growth in EPS despite currency headwinds.”
EPS in the quarter was $2.40, compared with the prior-year amount of $2.19. Adjusted EPS was $2.46, an increase of 9% over the prior-year amount of $2.25.
Sales were $539.7 million, a 4% increase in local currency sales, compared with $535.7 million in the prior-year quarter. Reported sales increased 1% as currency reduced sales growth by 3% in the quarter. As compared to the prior year, local currency sales increased 6% in the Americas and 4% in Asia / Rest of World. In Europe, sales in local currency were constant with the prior year. Adjusted operating income amounted to $102.0 million, a 5% increase from the prior-year amount of $97.3 million. Adjusted operating income is a non-GAAP measure, and a reconciliation to earnings before taxes is provided in the attached schedules.
Cash flow from operations was $35.7 million, compared with $58.6 million in the prior-year quarter.
Outlook
The Company updated its outlook for 2016 and noted that forecasting remains challenging.
Based on today’s assessment, management anticipates that local currency sales growth in 2016 will be approximately 4% and Adjusted EPS is forecasted to be in the range of $14.25 to $14.35, an increase of 10% to 11%. This compares to previous guidance of local currency sales growth in the range of 3% to 4% and Adjusted EPS in the range of $14.10 to $14.30.
For the second quarter 2016, management anticipates that local currency sales growth will be approximately 4% and Adjusted EPS is forecasted to be in the range of $3.09 to $3.14, an increase of 10% to 12%.
Adjusted EPS excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items. While the Company has provided an outlook for Adjusted EPS, it has not provided an outlook for EPS as it would require an estimate of non-recurring items, which are not yet known.
- more -
Conclusion
Filliol concluded, "We are pleased with the start to the year but remain cautious on the global economy as uncertainty remains. Our initiatives remain on track and we expect to continue to benefit from new product introductions, Field Turbo investments, Spinnaker sales and marketing programs and continued productivity measures. We are focused on continued strong execution and believe we can continue to generate above-market growth."
Other Matters
The Company will host a conference call to discuss its quarterly results today (Thursday, May 5) at 5:00 p.m. Eastern Time. To hear a live webcast or replay of the call, visit the investor relations page on the Company’s website at www.mt.com/investors. The presentation referenced in the conference call will be located on the website prior to the call.
METTLER TOLEDO is a leading global supplier of precision instruments and services. The Company has strong leadership positions in all businesses and believes it holds global number-one market positions in a majority of them. Specifically, METTLER TOLEDO is the largest provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a leading provider in analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes. In addition, METTLER TOLEDO is the largest supplier of end-of-line inspection systems used in production and packaging for food, pharmaceutical and other industries. Additional information about METTLER TOLEDO can be found at www.mt.com/investors.
Statements in this press release which are not historical facts constitute “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses’ actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of those terms or other comparable terminology. For a discussion of these risks and uncertainties, please see the discussion on forward-looking statements in our current report on Form 8-K to which this release has been furnished as an exhibit. All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under the captions “Factors affecting our future operating results” and in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our annual report on Form 10-K for the most recently completed fiscal year, which describe risks and factors that could cause results to differ materially from those projected in those forward-looking statements.
- more -
METTLER-TOLEDO INTERNATIONAL INC. CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands except share data) (unaudited) | |||||||||||||||
Three months ended | Three months ended | ||||||||||||||
March 31, 2016 | % of sales | March 31, 2015 | % of sales | ||||||||||||
Net sales | $ | 539,674 | (a) | 100.0 | $ | 535,701 | 100.0 | ||||||||
Cost of sales | 239,767 | 44.4 | 236,896 | 44.2 | |||||||||||
Gross profit | 299,907 | 55.6 | 298,805 | 55.8 | |||||||||||
Research and development | 28,973 | 5.4 | 28,461 | 5.3 | |||||||||||
Selling, general and administrative | 168,921 | 31.3 | 173,038 | 32.3 | |||||||||||
Amortization | 8,424 | 1.6 | 7,528 | 1.4 | |||||||||||
Interest expense | 6,580 | 1.2 | 6,725 | 1.3 | |||||||||||
Restructuring charges | 880 | 20.0 | 907 | 0.2 | |||||||||||
Other charges (income), net | (284 | ) | (0.1 | ) | (817 | ) | (0.2 | ) | |||||||
Earnings before taxes | 86,413 | 16.0 | 82,963 | 15.5 | |||||||||||
Provision for taxes | 20,739 | 3.8 | 19,912 | 3.7 | |||||||||||
Net earnings | $ | 65,674 | 12.2 | $ | 63,051 | 11.8 | |||||||||
Basic earnings per common share: | |||||||||||||||
Net earnings | $ | 2.44 | $ | 2.24 | |||||||||||
Weighted average number of common shares | 26,931,293 | 28,115,220 | |||||||||||||
Diluted earnings per common share: | |||||||||||||||
Net earnings | $ | 2.40 | $ | 2.19 | |||||||||||
Weighted average number of common | |||||||||||||||
and common equivalent shares | 27,421,019 | 28,762,935 | |||||||||||||
Note: | |||||||||||||||
(a) Local currency sales increased 4% as compared to the same period in 2015. | |||||||||||||||
RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING INCOME | |||||||||||||||
Three months ended | Three months ended | ||||||||||||||
March 31, 2016 | % of sales | March 31, 2015 | % of sales | ||||||||||||
Earnings before taxes | $ | 86,413 | $ | 82,963 | |||||||||||
Amortization | 8,424 | 7,528 | |||||||||||||
Interest expense | 6,580 | 6,725 | |||||||||||||
Restructuring charges | 880 | 907 | |||||||||||||
Other charges (income), net | (284 | ) | (817 | ) | |||||||||||
Adjusted operating income | $ | 102,013 | (b) | 18.9 | $ | 97,306 | 18.2 | ||||||||
Note: | |||||||||||||||
(b) Adjusted operating income increased 5% as compared to the same period in 2015. | |||||||||||||||
- more -
METTLER-TOLEDO INTERNATIONAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (amounts in thousands) (unaudited) | |||||||
March 31, 2016 | December 31, 2015 | ||||||
Cash and cash equivalents | $ | 110,595 | $ | 98,887 | |||
Accounts receivable, net | 387,296 | 411,420 | |||||
Inventories | 227,323 | 214,383 | |||||
Other current assets and prepaid expenses | 141,485 | 138,125 | |||||
Total current assets | 866,699 | 862,815 | |||||
Property, plant and equipment, net | 521,496 | 517,229 | |||||
Goodwill and other intangible assets, net | 564,173 | 561,536 | |||||
Other non-current assets | 82,905 | 75,059 | |||||
Total assets | $ | 2,035,273 | $ | 2,016,639 | |||
Short-term borrowings and maturities of long-term debt | $ | 17,381 | $ | 14,488 | |||
Trade accounts payable | 120,536 | 142,075 | |||||
Accrued and other current liabilities | 406,875 | 438,564 | |||||
Total current liabilities | 544,792 | 595,127 | |||||
Long-term debt | 681,872 | 575,138 | |||||
Other non-current liabilities | 265,276 | 265,917 | |||||
Total liabilities | 1,491,940 | 1,436,182 | |||||
Shareholders’ equity | 543,333 | 580,457 | |||||
Total liabilities and shareholders’ equity | $ | 2,035,273 | $ | 2,016,639 | |||
- more -
METTLER-TOLEDO INTERNATIONAL INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in thousands) (unaudited) | |||||||
Three months ended | |||||||
March 31, | |||||||
2016 | 2015 | ||||||
Cash flow from operating activities: | |||||||
Net earnings | $ | 65,674 | $ | 63,051 | |||
Adjustments to reconcile net earnings to | |||||||
net cash provided by operating activities: | |||||||
Depreciation | 8,122 | 8,301 | |||||
Amortization | 8,424 | 7,528 | |||||
Deferred tax benefit | (3,304 | ) | (1,670 | ) | |||
Excess tax benefits from share-based payment arrangements | (5,805 | ) | (441 | ) | |||
Other | 3,579 | 3,480 | |||||
Decrease in cash resulting from changes in | |||||||
operating assets and liabilities | (40,990 | ) | (21,653 | ) | |||
Net cash provided by operating activities | 35,700 | 58,596 | |||||
Cash flows from investing activities: | |||||||
Proceeds from sale of property, plant and equipment | 135 | 42 | |||||
Purchase of property, plant and equipment | (14,348 | ) | (18,539 | ) | |||
Acquisition | (4,329 | ) | (200 | ) | |||
Net hedging settlement on intercompany loans | 2,128 | (8,384 | ) | ||||
Net cash used in investing activities | (16,414 | ) | (27,081 | ) | |||
Cash flows from financing activities: | |||||||
Proceeds from borrowings | 229,413 | 150,996 | |||||
Repayments of borrowings | (124,467 | ) | (77,486 | ) | |||
Proceeds from exercise of stock options | 5,909 | 9,546 | |||||
Excess tax benefits from share-based payment arrangements | 5,805 | 441 | |||||
Repurchases of common stock | (125,000 | ) | (123,745 | ) | |||
Other financing activities | (125 | ) | — | ||||
Net cash used in financing activities | (8,465 | ) | (40,248 | ) | |||
Effect of exchange rate changes on cash and cash equivalents | 887 | (1,171 | ) | ||||
Net decrease in cash and cash equivalents | 11,708 | (9,904 | ) | ||||
Cash and cash equivalents: | |||||||
Beginning of period | 98,887 | 85,263 | |||||
End of period | $ | 110,595 | $ | 75,359 | |||
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW | |||||||
Net cash provided by operating activities | $ | 35,700 | $ | 58,596 | |||
Excess tax benefits from share-based payment arrangements | 5,805 | 441 | |||||
Payments in respect of restructuring activities | 1,841 | 806 | |||||
Proceeds from sale of property, plant and equipment | 135 | 42 | |||||
Purchase of property, plant and equipment | (14,348 | ) | (18,539 | ) | |||
Free cash flow | $ | 29,133 | $ | 41,346 | |||
- more -
METTLER-TOLEDO INTERNATIONAL INC. OTHER OPERATING STATISTICS | |||||||||||||||||
SALES GROWTH BY DESTINATION | |||||||||||||||||
(unaudited) | |||||||||||||||||
Europe | Americas | Asia/RoW | Total | ||||||||||||||
U.S. Dollar Sales Growth (Decrease) | |||||||||||||||||
Three Months Ended March 31, 2016 | (2 | )% | 5 | % | (1 | )% | 1 | % | |||||||||
Local Currency Sales Growth (Decrease) | |||||||||||||||||
Three Months Ended March 31, 2016 | 0 | % | 6 | % | 4 | % | 4 | % | |||||||||
RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS | |||||||||||||||||
(unaudited) | |||||||||||||||||
Three months ended | |||||||||||||||||
March 31, | |||||||||||||||||
2016 | 2015 | % Growth | |||||||||||||||
EPS as reported, diluted | $ | 2.40 | $ | 2.19 | 10% | ||||||||||||
Restructuring charges, net of tax | 0.02 | (a) | 0.02 | (a) | |||||||||||||
Purchased intangible amortization, net of tax | 0.04 | (b) | 0.04 | (b) | |||||||||||||
Adjusted EPS, diluted | $ | 2.46 | $ | 2.25 | 9% | ||||||||||||
Notes: | |||||||||||||||||
(a) | Represents the EPS impact of restructuring charges of $0.9 million ($0.7 million after tax) for both the three months ended March 31, 2016 and 2015, respectively, which primarily include employee related costs. | ||||||||||||||||
(b) | Represents the EPS impact of purchased intangibles amortization, net of tax, of $1.1 million and $1.0 million for the three month periods ended March 31, 2016 and 2015. | ||||||||||||||||
###
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mettler-Toledo (MTD) PT Raised to $1,212 at Baird
- GOLD ROYALTY FORGES STRATEGIC ALLIANCE WITH TAURUS MINING ROYALTY FUND
- Ferguson Share Repurchase Program - Weekly Report
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
