Standex International (SXI) Tops Q4 EPS by 18c
Standex International (NYSE: SXI) reported Q4 EPS of $0.65, $0.18 better than the analyst estimate of $0.47. Revenue for the quarter came in at $139.4 million versus the consensus estimate of $137.99 million.
In fiscal first quarter 2021, Standex expects consolidated company revenue to be flat to slightly above fiscal fourth quarter 2020 and total segment operating margin to increase sequentially. The Electronics and Engraving segments are expected to have meaningful sequential revenue increases due to an increased level of customer activity and associated volume as well as a contribution from the recently closed Renco acquisition at the Electronics segment. In fiscal first quarter 2021, the Company also expects meaningful sequential revenue increase at the Scientific segment. This reflects an increase in customer order flow following a pause in fiscal fourth quarter 2020, as the end market shifted toward consumable protective equipment due to the COVID-19 pandemic.
Engineering Technologies is expected to have a significant sequential decline due to the ongoing impact of COVID-19 on the commercial aviation markets.
Specialty Solutions revenue is expected to be sequentially similar to fiscal fourth quarter 2020 with Merchandising demand expected to slightly improve while Hydraulics and Pumps are expected to be relatively similar to fiscal fourth quarter 2020 results.
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