Nortek (NTK) Tops Q4 EPS by 5c, Offers Outlook

Nortek (NASDAQ: NTK) reported Q4 EPS of $0.24, $0.05 better than the analyst estimate of $0.19. Revenue for the quarter came in at $631 million versus the consensus estimate of $615.1 million.

Outlook

"Looking ahead to 2016, we are encouraged by the underlying fundamentals of our business segments, which we believe sets us up for improved financial performance," Clarke said. "We have a strong slate of new product introductions and favorable tailwinds in our end markets, which contribute to our positive outlook."

Clarke continued, "Excluding potential headwinds from foreign exchange translation, we expect to deliver overall net sales growth in 2016 despite planned lower sales related to our restructuring efforts. With increased sales volume and the benefits from our restructuring actions, we expect to achieve growth in both reported and adjusted operating earnings in 2016. Offsetting a portion of this growth will be normal increases in operating expenses and important investments in product development and marketing. Importantly, we anticipate solid free cash flow generation in 2016, benefitting from improved operating performance, the near elimination of restructuring charges and strong working capital management."

For earnings history and earnings-related data on Nortek (NTK) click here.

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Gemini Space Station, Inc. (GEMI) Misses Q2 EPS by 32c
• 4D Molecular Therapeutics, Inc. (FDMT) Misses Q2 EPS by 3c