Kadant, Inc. (KAI) Misses Q2 EPS by 5c; Raises Outlook But Below Street Views
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Price: $334.22 +0.96%
Financial Fact:
Selling, general, and administrative expenses: 33.53M
Today's EPS Names:
SVBT, ZEO, OTLK, More
Financial Fact:
Selling, general, and administrative expenses: 33.53M
Today's EPS Names:
SVBT, ZEO, OTLK, More
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Kadant, Inc. (NYSE: KAI) reported Q2 EPS of $0.51, $0.05 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $82 million versus the consensus estimate of $82.65 million.
Kadant, Inc. sees FY2013 EPS of $2.03-$2.08, versus prior guidance of $1.9-$2 and the consensus of $2.09.
"We were pleased we exceeded our diluted EPS guidance on an adjusted basis," said Jonathan W. Painter, president and chief executive officer of Kadant. "We also had excellent gross margins and cash flows in the second quarter of 2013. Gross profit margins in the second quarter of 2013 were a record 48.6 percent. Operating cash flows from continuing operations were $11.1 million in the second quarter of 2013, increasing 30 percent over the second quarter of 2012. We ended the quarter with net cash (cash less debt) of $48.5 million, an increase of 61 percent over $30.1 million in the second quarter of 2012. Significantly, our operating cash flows from continuing operations over the last twelve months were $44.0 million, reflecting the strength of our business."
"Consolidated bookings increased to $87.1 million in the second quarter compared to $77.4 million in the second quarter of 2012, including a $7.4 million increase from acquisitions and a 54 percent increase in China bookings. We ended the quarter with a strong backlog of $106.3 million, including $9.0 million from acquisitions. After the quarter closed, we booked orders for paper drying and fabric cleaning systems in Europe with a combined value of $4.4 million."
For earnings history and earnings-related data on Kadant, Inc. (KAI) click here.
Kadant, Inc. sees FY2013 EPS of $2.03-$2.08, versus prior guidance of $1.9-$2 and the consensus of $2.09.
"We were pleased we exceeded our diluted EPS guidance on an adjusted basis," said Jonathan W. Painter, president and chief executive officer of Kadant. "We also had excellent gross margins and cash flows in the second quarter of 2013. Gross profit margins in the second quarter of 2013 were a record 48.6 percent. Operating cash flows from continuing operations were $11.1 million in the second quarter of 2013, increasing 30 percent over the second quarter of 2012. We ended the quarter with net cash (cash less debt) of $48.5 million, an increase of 61 percent over $30.1 million in the second quarter of 2012. Significantly, our operating cash flows from continuing operations over the last twelve months were $44.0 million, reflecting the strength of our business."
"Consolidated bookings increased to $87.1 million in the second quarter compared to $77.4 million in the second quarter of 2012, including a $7.4 million increase from acquisitions and a 54 percent increase in China bookings. We ended the quarter with a strong backlog of $106.3 million, including $9.0 million from acquisitions. After the quarter closed, we booked orders for paper drying and fabric cleaning systems in Europe with a combined value of $4.4 million."
For earnings history and earnings-related data on Kadant, Inc. (KAI) click here.
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