Tag Archives: Announces Fourth Quarter

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Industrial Services of America, Inc. Announces Fourth Quarter and 2012 Results

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Industrial Services of America, Inc. Announces Fourth Quarter and 2012 Results

LOUISVILLE, Ky.–(BUSINESS WIRE)– Industrial Services of America, Inc. (NAS: IDSA) , a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage waste, today announced financial results for the year and fourth quarter ended December 31, 2012.

Revenue for 2012 was $194.2 million compared with $277.2 million in 2011. Net loss for 2012 was $(6.6) million, or $(0.95) per diluted share, which included a non-cash impairment charge to goodwill of $3.9 million, net of income tax, compared with net loss of $(3.9) million, or $(0.56) per diluted share for 2011. Excluding the goodwill impairment, the net loss for 2012 would have been $(2.7) million, net of income tax, or $(0.39) per diluted share.

Revenue for the fourth quarter of 2012 was $37.0 million compared with $50.0 million in the fourth quarter of 2011. Net loss for the fourth quarter of 2012 was $(4.5) million, or $(0.65) on a diluted share basis, which included a non-cash impairment charge to goodwill of $3.9 million, net of income tax, compared with a net loss of $(1.8) million, or $(0.26) per diluted share, for the comparable period in 2011.

The company continues to manage its way through a challenging market environment. During 2012, ISA reduced overhead costs by approximately $3,400,000 in an effort to adjust capacity to match the reduction in scrap processing volumes in the eastern U.S. The market remains intensely competitive for scrap materials.

Key Highlights 2012

  • ISA launched its Pick.Pull.Save retail auto parts division in July. This division has gained significant market traction, operating on 15 acres at ISA‘s headquarters facility and maintaining over 1,200 autos in inventory.
  • ISA‘s shredder has benefitted from higher quality product inflow as a result of scrap flows from the Pick.Pull.Save operation, which is adjacent to the shredder.
  • The company has used excess cash to reduce its term debt ahead of schedule.

ISA was recently recognized by the Institute of Scrap Recycling Industries (“ISRI”), the scrap industry’s leading trade group, as a leader in the safe and efficient operation of its …read more
Source: FULL ARTICLE at DailyFinance

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Momentive Performance Materials Inc. Announces Fourth Quarter and Year Ended 2012 Results

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Momentive Performance Materials Inc. Announces Fourth Quarter and Year Ended 2012 Results

WATERFORD, N.Y.–(BUSINESS WIRE)– Momentive Performance Materials Inc. (“Momentive Performance Materials” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2012. Results for the fourth quarter of 2012 include:

  • Net sales of $566 million compared to $596 million in the prior year period.
  • Operating loss of $(3) million versus operating loss of $(28) million in the prior year period. Fourth quarter 2012 operating loss improved versus fourth quarter 2011 due to improved gross margins and a $12 million decrease in selling, general and administrative expenses.
  • Net loss of $(131) million compared to a net loss of $(95) million in the prior year period, which reflected a $(51) million loss on the extinguishment and exchange of debt in the fourth quarter of 2012 partially offset by the same factors impacting our operating loss.
  • Segment EBITDA of $50 million compared to $35 million in the prior year period. Segment EBITDA is a non-GAAP financial measure and is defined and reconciled to net loss later in this release.

Fiscal year 2012 results include:

  • Net sales of $2.36 billion in 2012 compared to $2.64 billion in the prior year period. The decline was primarily due to a decrease in volume and price, as well as product mix shift.
  • Operating loss of $(39) million in 2012 versus operating income of $142 million in the prior year period. Fiscal year 2012 operating loss reflected decreased sales and higher restructuring and other costs.
  • Net loss attributable of $(365) million in 2012 compared to a net loss of $(141) million in the prior year period.
  • Segment EBITDA of $214 million in 2012 compared to $379 million in the prior year period. In addition, the Company reported Adjusted EBITDA for the last twelve months of $228 million, which includes in process cost reduction program savings, as well as savings that the Company expects to achieve in connection with the Shared Services Agreement with Momentive Specialty Chemicals Inc. (“MSC”).

“Fourth quarter 2012 Segment EBITDA improved on a year over year basis driven …read more
Source: FULL ARTICLE at DailyFinance

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Momentive Specialty Chemicals Inc. Announces Fourth Quarter and Year Ended 2012 Results

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Momentive Specialty Chemicals Inc. Announces Fourth Quarter and Year Ended 2012 Results

COLUMBUS, Ohio–(BUSINESS WIRE)– Momentive Specialty Chemicals Inc. (“Momentive Specialty Chemicals” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2012. Results for the fourth quarter of 2012 include:

  • Revenues of $1.1 billion versus $1.2 billion in the fourth quarter of 2011.
  • Operating income of $15 million compared to operating income of $19 million for the prior year period. Fourth quarter 2012 operating income reflected lower volumes and unfavorable product mix shift, partially offset by the positive impact of savings from the shared services agreement with Momentive Performance Materials Inc. (“MPM”). Fourth quarter 2012 operating income was also negatively impacted by $8 million due to a temporary manufacturing outage at one of our epoxy resin facilities.
  • Net loss of $(52) million versus net loss of $(47) million in the prior year period. Fourth quarter 2012 results reflect the same factors impacting operating income.
  • Segment EBITDA totaled $84 million compared to $106 million during the prior year period.

Fiscal year 2012 results include:

  • Revenues of $4.8 billion in 2012 compared to $5.2 billion during the prior year period driven primarily by the impact of volume decreases of $260 million and unfavorable foreign currency translation of $193 million.
  • Operating income of $202 million in 2012 compared to operating income of $368 million for the prior year period. Full-year 2012 operating income reflected the same trends as the fourth quarter of 2012. Selling, general and administrative expense decreased by $13 million due to lower project and transaction costs, as well as various cost reduction initiatives.
  • Net income of $324 million in 2012 versus net income of $118 million in 2011. 2012 and 2011 results reflect the same factors impacting operating income. 2012 net income also reflected a $365 million tax benefit as a result of the release of a significant portion of the Company’s valuation allowance in the United States.
  • Segment EBITDA totaled $490 million in 2012 compared to $635 million in 2011. In addition, the Company reported Adjusted EBITDA for the last twelve months of $530 million, which includes cost reduction program savings, as well as savings that the Company expects to achieve in connection with the shared services …read more
    Source: FULL ARTICLE at DailyFinance
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Imperial Holdings, Inc. Announces Fourth Quarter and Year End 2012 Results

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Imperial Holdings, Inc. Announces Fourth Quarter and Year End 2012 Results

Company Closes on $45 Million Bridge Facility

BOCA RATON, Fla.–(BUSINESS WIRE)– Imperial Holdings, Inc. (NYS: IFT) (“Imperial” or the “Company”), a specialty finance company with a focus on providing liquidity solutions to owners of illiquid financial assets, announced today financial results for its fourth quarter and fiscal year ended December 31, 2012.


Quarter Ended December 31, 2012

Total income was $7.2 million for the three months ended December 31, 2012, compared to total income of ($8.1 million) for the three months ended December 31, 2011, an increase of $15.3 million. Total expenses were $10.9 million for the three months ended December 31, 2012 compared to $31.9 million for the three months ended December 31, 2011, a decrease of $21 million. The majority of the decrease in expenses was attributed to significantly lower legal fees related to a government investigation. The Company posted a net loss of $3.7 million, or ($.17), per fully diluted share for the three months ended December 31, 2012, compared to a net loss of $38.7 million, or ($1.82), per fully diluted share, for the three months ended December 31, 2011.

In the Life Finance business segment, income was $3.1 million for the fourth quarter of 2012 compared to income of ($12.1 million) for the fourth quarter of 2011, an increase of $15.2 million. Income was driven by a $2.7 million increase in the fair value of the Company’s portfolio of 214 life insurance policies. At December 31, 2012 the estimated fair value of the Company’s life insurance policies was $113.4 million. The weighted average discount rate used in the Company’s fair value model was 24.01% at December 31, 2012. The aggregate face value of the Company’s portfolio of life insurance policies was $1.1 billion at December 31, 2012. Segment expenses were $4.1 million during the three months ended December 31, 2012 compared to $9.8 million during the three months ended December 31, 2011, a decline of $5.7 million. The decrease in expenses was attributed to lower interest expense, amortization of deferred costs and personnel costs, as well as a decrease in the Company’s provision for loan losses. Segment operating loss was $979,000 for the three months ended …read more
Source: FULL ARTICLE at DailyFinance

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Accellent Inc. Announces Fourth Quarter 2012 Results

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Accellent Inc. Announces Fourth Quarter 2012 Results

WILMINGTON, Mass.–(BUSINESS WIRE)– Accellent Inc. (the “Company” or “Accellent”), a wholly owned subsidiary of Accellent Holdings Corp., today announced results for its fiscal fourth quarter ended December 31, 2012.

Fourth Quarter 2012 Financial Results

Net sales were $122.1 million in the fourth quarter of 2012 compared with $120.8 million in the fourth quarter of 2011. Income from continuing operations was $11.2 million in the fourth quarter of 2012, compared with $13.7 million in the fourth quarter of 2011. Net loss was $3.3 million in the fourth quarter of 2012 compared to $3.4 million in the fourth quarter of 2011.

Adjusted EBITDA in the fourth quarter of 2012 was $22.0 million, or 18.0% of net sales, compared to Adjusted EBITDA of $23.1 million, or 19.1% of net sales, in the fourth quarter of 2011.

“Although the challenging market conditions continued and we saw only slight growth in the fourth quarter of 2012, we remained focused on improving the fundamentals of the business,” stated Donald Spence, President and CEO of Accellent. “With improved working capital management and the divestiture of non-strategic sites, we ended 2012 with a record cash balance of nearly $60 million. I am optimistic that our actions will continue to generate positive results.”

Twelve Months Ended December 31, 2012 Financial Results

Net sales decreased 1.3% to $498.6 million in the twelve months of 2012 compared with $505.4 million in the twelve months of 2011. Income from continuing operations was $51.0 million in the twelve months of 2012 compared with $58.1 million in the twelve months of 2011. Net loss was $22.4 million in the twelve months of 2012 compared with a net loss of $14.9 million in the twelve months of 2011.

Adjusted EBITDA for the twelve months of 2012 was $98.7 million, or 19.8% of net sales compared to Adjusted EBITDA of $100.2 million, or 19.8% of net sales in the twelve months of 2011.

Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the financial information accompanying this press release.

The financial information included in this press release reflect results from continuing operations for all periods presented and assets to be held and used. Results of discontinued operations and assets held …read more
Source: FULL ARTICLE at DailyFinance

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Books-A-Million, Inc. Announces Fourth Quarter and Annual Results

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Books-A-Million, Inc. Announces Fourth Quarter and Annual Results

Operating Income Increases 22.0% in the Quarter

Annual Net Income Increases $5.0 Million

BIRMINGHAM, Ala.–(BUSINESS WIRE)– Books-A-Million, Inc. (Nasdaq: BAMM) today announced financial results for the 14-week and 53-week periods ended February 2, 2013. This quarter reflects an extra week in fiscal 2013, creating a 53-week fiscal year that occurs approximately every six years in the accounting cycle for most retailing companies. Net sales for the 14-week period ended February 2, 2013 decreased 0.8% to $165.6 million compared with sales of $166.9 million in the 13-week year-earlier period. Comparable store sales for the fourth quarter, which include comparable 13-week periods this year and last year, decreased 6.1% compared with the same period last year. Operating income increased 22.0% to $14.7 million for the 14-week period ended February 2, 2013, compared with $12.0 million in the 13-week period ended January 28, 2012. Net income from continuing operations for the current year fourth quarter was $8.1 million, or $0.52 per diluted share, compared with net income from continuing operations of $7.6 million, or $0.48 per diluted share, in the 13-week year-earlier period.

For the 53-week period ended February 2, 2013, net sales increased 7.5% to $503.8 million from net sales of $468.5 million in the 52-week year-earlier period. Comparable store sales, which include comparable 52-week periods this year and last year, declined 3.6%. Operating income was $6.9 million for the 53-week period ended February 2, 2013, compared with a loss of $4.0 million in the 52-week period ended January 28, 2012. For the 53-week period ended February 2, 2013, the Company reported net income from continuing operations of $2.5 million, or $0.16 per diluted share, compared to a net loss from continuing operations of $2.5 million, or $0.16 per diluted share, in the 52-week year-earlier period.

Commenting on the results, Terrance G. Finley, Chief Executive Officer and President, said, “We were pleased with our results for the quarter and the fiscal year. Our core book business stabilized, our general merchandise categories performed well and we experienced a significant change in the digital arena, with device sales weaker than expected and digital content sales growing at a markedly slower rate. We are adjusting our merchandising strategy to reflect the fast changing industry dynamics and focusing on growing our business by offering the best value and customer experience …read more
Source: FULL ARTICLE at DailyFinance

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Asia Entertainment & Resources Ltd. Announces Fourth Quarter and Full Year 2012 Financial Results

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Asia Entertainment & Resources Ltd. Announces Fourth Quarter and Full Year 2012 Financial Results

HONG KONG–(BUSINESS WIRE)– Asia Entertainment & Resources Ltd. (“AERL” or the “Company”) (NASDAQ: AERL), which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, today announced unaudited financial results for the three months and year ended December 31, 2012. All currency amounts are stated in United States dollars. Please refer to the Annual Report on Form 20-F that will be filed with the Securities and Exchange Commission on or about March 28, 2013 for the full audited financial statements and related disclosures for the year ended December 31, 2012.

Fourth Quarter 2012 Highlights

  • Rolling Chip Turnover (a metric used by casinos to measure the aggregate amount of players’ bets and overall volume of VIP gaming room business transacted, which is further defined below) for the three months ended December 31, 2012 was $4.1 billion, a decrease of 27% compared to $5.6 billion for the three months ended December 31, 2011
  • Net income, including the change in fair value of contingent consideration of $0.1 million related to the King’s Gaming and Bao Li Gaming acquisitions, decreased 38% to $10.1 million or $0.24 per share (fully diluted) in the fourth quarter of 2012 from $16.3 million or $0.38 per share (fully diluted) in the same period of 2011.
  • Non-GAAP income before amortization of intangible assets and the change in fair value of contingent consideration related to the acquisitions of King’s Gaming and Bao Li Gaming was $12.6 million or $0.30 (fully diluted) for the three months ended December 31, 2012 as compared to income of $19.8 million or $0.46 (fully diluted) for the three months ended December 31, 2011. The decrease in Non-GAAP income was approximately 36%.
  • In the fourth quarter 2012, the Company repurchased and retired 1,011,600 shares at an average price of $3.15 per share. The Company purchased the maximum number of shares pursuant to its then-existing share repurchase program in the first quarter of 2013 and announced a new share repurchase program to purchase up to an additional four million of its ordinary shares on the open market at prices to be determined by the Company’s management. The program commences on the second business day after today’s release of the Company’s financial results for the year ended December 31, 2012 and expires on December 31, 2013.

…read more
Source: FULL ARTICLE at DailyFinance

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Interlink Electronics, Inc. Announces Fourth Quarter and Year End 2012 Results

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Interlink Electronics, Inc. Announces Fourth Quarter and Year End 2012 Results

CAMARILLO, Calif.–(BUSINESS WIRE)– Interlink Electronics, Inc. (OTC: LINK), a global leader in sensor technology, today announced their unaudited results for the fourth quarter and audited results for the year ended December 31, 2012.

Fourth Quarter 2012 vs. 2011

  • Revenue increased 31.4% to $1,490,000 from $1,134,000;
  • Gross margin was 43.8%, compared to 39.7%;
  • Selling, General and Administrative (S, G & A) expenses was 48% of revenue compared to 35%;
  • Operating loss was ($322,000) compared to ($289,000);
  • Loss from continuing operations, net of tax, was ($324,000) or ($0.44) per basic and diluted share, compared to a loss from continuing operations, net of tax, of ($169,000) or ($.23) per basic and diluted share, and,
  • Net loss increased to ($316,000) or ($0.43) per basic and diluted share, from a net loss of ($161,000) or ($.22) per basic and diluted share.

Year Ended December 31, 2012 vs. 2011

  • Revenue increased 28.5% to $6,413,000 from $4,992,000;
  • Gross margin was 49.5%, compared to 41.9%;
  • Selling, General and Administrative (S, G & A) expenses as a percentage of revenue were 35%, compared to 41%;
  • Operating loss decreased to ($73,000) from an operating loss of ($1,287,000);
  • Income from continuing operations, net of tax, was $102,000 or $0.14 per basic and diluted share(1), compared to a loss from continuing operations, net of tax, of ($1,644,000) or ($2.28) per basic and diluted share(2), and,
  • Net income increased to $136,000 or $0.19 per basic and diluted share(1), from a net loss of ($1,610,000) or ($2.23) per basic and diluted share(2).

Interlink has no debt and its stockholders’ equity at December 31, 2012 was $3,271,000. Non-GAAP stockholders’ equity …read more
Source: FULL ARTICLE at DailyFinance

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New York & Company, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

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New York & Company, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

~ Comparable Store Sales Increase 2.3% ~

~ Q4 GAAP Operating Profit Improves by $21M vs. LY ~

~ Q4 Adjusted Operating Profit Improves by $17M vs. LY ~

NEW YORK–(BUSINESS WIRE)– New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 519 retail stores, today announced results for the fourth quarter and full fiscal year ended February 2, 2013 (“fiscal year 2012”).

Fourth Quarter Fiscal Year 2012 Results:

  • Net sales were $291.8 million, as compared to $271.8 million in the year-ago period. The Company noted that fiscal year 2012 included 53 weeks versus 52 weeks in fiscal year 2011 with the additional week occurring in the fourth quarter.
  • Comparable store sales increased 2.3% compared to a decrease of 6.3% in the prior year fourth quarter. All comparable store sales figures are based on a 52-week comparable time period.

As previously disclosed, during the fourth quarter of fiscal year 2012, the Company determined it had adequate information on historical redemption patterns for merchandise credits and utilized this to revise its estimates of redemption rates and the period over which breakage income is recognized, which resulted in a $4.3 million benefit to net sales, gross margin, and operating income. All comparable store sales figures and “non-GAAP” figures referred to in this release exclude this benefit. Please refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” in Exhibit 5 of this press release.

  • Operating income was $10.6 million reflecting a significant improvement from the prior year’s fourth quarter operating loss of $10.8 million. On a non-GAAP basis, the Company’s adjusted operating income was $6.2 million. Operating income on a GAAP and non-GAAP basis exceeded the high-end of the Company’s increased guidance provided on February 12, 2013.
  • Net income increased to $10.5 million, or $0.17 per diluted share. On a non-GAAP basis, the Company’s …read more
    Source: FULL ARTICLE at DailyFinance
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The Wet Seal, Inc. Announces Fourth Quarter and Fiscal 2012 Financial Results

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The Wet Seal, Inc. Announces Fourth Quarter and Fiscal 2012 Financial Results

Provides Outlook for the First Quarter of Fiscal 2013

FOOTHILL RANCH, Calif.–(BUSINESS WIRE)– The Wet Seal, Inc. (NAS: WTSL) , a leading specialty retailer to young women, announced results for its fiscal fourth quarter and full year ended February 2, 2013. The Company noted that fiscal 2012 had 53 weeks versus 52 weeks in fiscal 2011; results for the fourth quarter and fiscal year 2012 include the additional week.

Fourth Quarter 2012

  • Net sales for the 14-week fourth quarter were $161.7 million compared to net sales of $163.2 million for the 13-week fourth quarter in fiscal 2011.
  • Consolidated comparable store sales declined 8.3%, including a comparable store sales decline of 9.1% at Wet Seal and 3.1% at Arden B. Comparable store sales for the current year quarter are versus the comparable fourteen weeks from the prior year.
  • Operating loss was $25.5 million, or 15.8% of net sales, compared to operating income of $2.2 million, or 1.4% of net sales, in the prior year quarter.
  • The current year and prior year quarters included $8.0 million and $2.5 million, respectively, in non-cash asset impairment charges. The current year quarter also included (i) a $6.6 million charge to accrue loss contingencies for several litigation matters, (ii) a $0.2 million benefit to adjust the amount of professional fees incurred to defend against a shareholder proxy solicitation to replace certain of the Company’s board members, which ultimately led to an agreement to replace four of the Company’s seven board members during the third quarter, (iii) $1.3 million in severance charges for a previously announced workforce reduction, and (iv) a $0.5 million charge for the early termination of two investment banker retention agreements. Non-GAAP adjusted operating loss, excluding the impact of the aforementioned adjustment and charges, was $9.3 million, or 5.8% of net sales in the 2012 fourth quarter, compared to operating income of $4.7 million, or 2.9% of net sales, in the prior year quarter (see reconciliation below of GAAP to non-GAAP financial measures).
  • In the fourth quarter of fiscal 2012, the Company recorded a non-cash provision for income …read more
    Source: FULL ARTICLE at DailyFinance
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lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2012 Results

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lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2012 Results

VANCOUVER, British Columbia–(BUSINESS WIRE)– lululemon athletica inc. (NAS: LULU) (TSX:LLL) today announced financial results for the fourth quarter and fiscal year ended February 3, 2013.

For the fourth quarter ended February 3, 2013:

  • Net revenue for the quarter increased 31% to $485.5 million from $371.5 million in the fourth quarter of fiscal 2011. The fourth quarter of fiscal 2012 consisted of 14 weeks while the fourth quarter of fiscal 2011 consisted of 13 weeks. Net sales for the quarter include an additional week; however comparable stores sales calculations exclude the 14th week.
  • Comparable stores sales for the fourth quarter increased by 10% on a constant dollar basis. This increase excludes corporate store sales of $18.7 million for the 14th week of the quarter.
  • Direct to consumer revenue increased 56% to $78.3 million, or 16.1% of net revenue, in the fourth quarter of fiscal 2012, from 13.5% of net revenue in the same period last year. This increase includes $4.2 million of net revenue from the 14th week of the quarter.
  • Gross profit for the quarter increased by 31% to $274.5 million, and as a percentage of net revenue gross profit increased to 56.5% for the quarter from 56.3% in the fourth quarter of fiscal 2011.
  • Income from operations for the quarter increased by 31% to $152.6 million, and as a percentage of net revenue was 31.4% compared to 31.2% of net revenue in the fourth quarter of fiscal 2011.
  • The tax rate for the quarter was 29.0% compared to 36.5% a year ago. The lower effective rate reflects the ongoing impact of revised intercompany pricing agreements.
  • Diluted earnings per share for the quarter were $0.75 on net income of $109.4 million, compared to diluted earnings per share of $0.51 on net income of $73.5 million in the fourth quarter of fiscal 2011.

For the fiscal year ended February 3, 2013:

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Movado Group, Inc. Announces Fourth Quarter and Fiscal 2013 Results

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Movado Group, Inc. Announces Fourth Quarter and Fiscal 2013 Results

~ Fiscal 2013 Adjusted Net Sales Increased 9.7% to $510.4 Million from $465.1 Million Last Year ~

~ Fiscal 2013 Adjusted Operating Income Increases 67.0% to $57.2 Million~

~Adjusted Earnings per Share Increases to $1.64~

~ Company Unveils Multi Year Strategic Plan That Includes 10% Sales Growth and 20% Operating Income Growth Annually~

PARAMUS, N.J.–(BUSINESS WIRE)– Movado Group, Inc. (NYS: MOV) today announced fourth quarter and fiscal year 2013 results for the period ended January 31, 2013.

Efraim Grinberg, Chairman and Chief Executive Officer, stated: “Our fourth quarter marked a great finish to a strong year of growth for Movado Group. During the quarter our sales momentum continued and our operating margins remained strong, which led to adjusted operating income increasing 17% from the fourth quarter of fiscal 2012. Our growth continued to be driven by the strong performance of Movado and our licensed brand portfolio. During the fourth quarter we took a $4.9 million charge to reposition the Coach watch brand into the fast growing fashion watch segment beginning in the second half of fiscal 2014. We are excited about the growth opportunities for Coach watches as we more closely align ourselves with Coach’s recently announced lifestyle strategy. We are also excited to announce our multi-year strategic plan that positions us well for future growth in both sales and profitability.”

During the fourth quarter of fiscal 2013, the Company recorded certain unusual items including the pre-tax charge of $4.9 million, or $0.13 per diluted share, related to a sales allowance for the Coach repositioning initiative. Partially offsetting this unusual item was a benefit of approximately $0.8 million, or $0.03 per diluted share, related to various tax adjustments including the previously announced increase in ownership of the Company’s UK joint venture, as well as the partial reversal of a valuation allowance on certain U.S. net deferred tax assets.

In the prior year fourth quarter, the Company recorded certain unusual items including a non-recurring pre-tax benefit of $2.3 million, or $0.07 per diluted share, related to a …read more
Source: FULL ARTICLE at DailyFinance

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CTPartners Executive Search Inc. Announces Fourth Quarter and Full Year 2012 Financial Results

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CTPartners Executive Search Inc. Announces Fourth Quarter and Full Year 2012 Financial Results

  • Fourth quarter revenue grows 11% to $30.2 million; full year revenue increases 6% to $128 million
  • New search assignments up 23% in fourth quarter, year-over-year
  • Company announces restatement of quarterly financial statements related to Latin America acquisition to account for a post combination compensation charge
  • Fourth quarter GAAP net loss of $0.21 per share; $0.02 net loss on adjusted basis, excluding certain non-recurring charges
  • Full year GAAP net loss of $0.51 per share; $0.16 diluted earnings per share on adjusted basis, excluding certain non-recurring charges, from $0.45 loss per share in 2011
  • Conference call tomorrow, Thursday, March 21, 2013 at 9:00 AM ET

NEW YORK–(BUSINESS WIRE)– CTPartners Executive Search Inc. (NYSE MKT:CTP), a leading global retained executive search firm, today announced its financial results for the fourth quarter and year ended December 31, 2012. The Company also announced its intention to restate its 2012 quarterly financial statements for the interim periods through September 30th to account for the acquisition of its Latin American licensee, completed on January 2, 2012. The restatement reclassifies $7.2 million from purchase consideration to post-combination compensation.

“Our fourth quarter net revenue was consistent with the financial guidance we provided on February 26th. We successfully executed our strategic growth plan in 2012 and added more clients and experienced executive search consultants to our team, while expanding our geographic footprint. Excluding the non-recurring post-combination compensation charge and the reorganization charge taken in the third quarter, we generated an adjusted $0.16 in earnings per share, a significant improvement over the prior year,” said Brian Sullivan, Chief Executive Officer.

…read more
Source: FULL ARTICLE at DailyFinance

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Williams-Sonoma, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results Diluted EPS Increases 15

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Williams-Sonoma, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

Diluted EPS Increases 15% to $1.34 in Fourth Quarter 2012

Provides Financial Guidance for Fiscal Year 2013 and Three-Year Outlook

Authorizes Three-Year $750 Million Stock Repurchase Program and 41% Dividend Increase

SAN FRANCISCO–(BUSINESS WIRE)– Williams-Sonoma, Inc. (NYS: WSM) today announced operating results for the fourth quarter of fiscal 2012 (“Q4 12”) and fiscal year ended February 3, 2013 (“FY 12″). Q4 12 included 14 weeks versus 13 weeks in the fourth quarter of fiscal 2011 ended January 29, 2012 (“Q4 11”). FY 12 included 53 weeks versus 52 weeks in the fiscal year ended January 29, 2012 (“FY 11″).


RELEASE HIGHLIGHTS

  • Q4 12 diluted earnings per share (“EPS“) grew 15% to $1.34.
  • Q4 12 net revenues grew to $1.406 billion versus $1.268 billion in Q4 11 with comparable brand revenue growth of 4.0%.
  • FY 12 was a 53-week year. This additional week in Q4 12 contributed approximately $70 million in net revenues and an estimated $0.07 benefit to EPS.
  • FY 12 EPS grew 14% to $2.54. Excluding unusual business events, non-GAAP EPS increased 15% to $2.58.
  • FY 12 net revenues grew to $4.043 billion versus $3.721 billion in FY 11 with comparable brand revenue growth of 6.1%.
  • Authorized a new three-year $750 million stock repurchase program.
  • Increased quarterly dividend 41% to $0.31.

Laura Alber, President and Chief Executive Officer, commented, “Today’s announcements reflect the power of our multi-channel, multi-brand operating model and confirm our confidence in the growth potential and cash-generating ability of our brands as we look forward to 2013 and beyond. We finished 2012 above our expectations, and our strategies for 2013 are strong. We are pleased that we are able to significantly escalate our commitment to return excess cash to stockholders through a balanced program of share repurchases and dividend increases.”

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HEI, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

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HEI, Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

MINNEAPOLIS–(BUSINESS WIRE)– HEI, Inc. (Pink Sheets: HEII) (http://www.heii.com) today announced its financial results for the fourth quarter and fiscal year 2012, which ended December 29, 2012.

Sales for the fourth quarter of 2012 were $11,426,000 compared to $9,201,000 for the fourth quarter of 2011. The Company generated a net loss of ($245,000) for the fourth quarter of 2012 compared to a net income of $364,000 for the fourth quarter of 2011. Sales for the full fiscal year of 2012 were $40,020,000, compared to $37,415,000 for 2011. The Company generated a net loss of ($1,257,000) for the full fiscal year of 2012 compared to a net income of $1,051,000 for 2011.

Sales were up 24.2% ($2,225,000) year-over-year in the fourth quarter as a result of increases in the Company’s Victoria operation which was partially offset by decreased sales in the Company’s other two operating divisions. Gross margins were down on a consolidated basis with Victoria gross margins improving as a result of improved efficiencies associated with the increased sales volumes while the decline in the other two operating divisions’ gross margins were a result of lower sales volumes and lower margin product mixes compared to the prior year. The net loss for fiscal 2012 included an increase to our reserve for inventory obsolescence of $889,000, which had no cash impact during the year. Net cash flow provided by operating activities was $2,399,000 for fiscal year 2012 compared to $1,219,000 for fiscal year 2011.

“The return to profitability for 2012 in our Victoria, Minnesota division was a result of the military radio systems component contracts we secured during the year, as well as strong demand from our telecom and other customers which improved our operational effectiveness. Unfortunately, Victoria’s turnaround was not enough to compensate for the slowdown in both the Boulder and Tempe facilities. We are entering 2013 with strong backlogs and strong demand from our new and existing customers, along with an increased focus on sales and customer expansion,” commented HEI CEO, Mark B. Thomas.

The audited financial statements for the year ended December 29, 2012 are included in the 2012 Annual Report which can be found on our website at the following link: http://www.heii.com/HEICorporate/NewsEvents/tabid/63/Default.aspx

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Blueknight Energy Partners, L.P. Announces Fourth Quarter and Full Year 2012 Results

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Blueknight Energy Partners, L.P. Announces Fourth Quarter and Full Year 2012 Results

OKLAHOMA CITY–(BUSINESS WIRE)– Blueknight Energy Partners, L.P. (“BKEP” or the “Partnership”) (NASDAQ: BKEP and BKEPP), a midstream energy company focused on providing integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products, today announced adjusted EBITDA of $13.1 million for the fourth quarter of 2012 as compared to $18.6 million for the same period in 2011. Adjusted EBITDA for the twelve months ended December 31, 2012 was $61.4 million as compared to adjusted EBITDA of $65.2 million for the year ended December 31, 2011. An explanation of adjusted EBITDA, including a reconciliation of such measure to net income, is provided in the section of this release entitled “Non-GAAP Financial Measures.”

The Partnership reported net income of $5.5 million on total revenues of $46.9 million for the three months ended December 31, 2012, compared to net income of $7.6 million on total revenues of $45.6 million for the three months ended December 31, 2011. For the twelve months ended December 31, 2012, the Partnership reported net income of $31.6 million on total revenues of $182.4 million, compared to net income of $33.5 million on total revenues of $176.7 million for the twelve months ended December 31, 2011.

The Partnership’s financial results for twelve months ended December 31, 2011 were impacted by non-cash gains of approximately $22.1 million related to the change in estimated fair market value of the embedded derivative related to convertible debentures redeemed in the fourth quarter of 2011 and the rights offering liability settled in the fourth quarter of 2011.

The Partnership previously announced a fourth quarter 2012 cash distribution of $0.1150 per common unit, a 2.2% increase over the previous quarter’s distribution, and a $0.17875 distribution per preferred unit which were paid on February 14, 2013 on all outstanding common and preferred units to unitholders of record at the close of business on February 4, 2013. Additional information regarding the Partnership’s results of operations will be provided in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2012, to be filed with the Securities and Exchange Commission on March 14, 2013.

“Overall, we are encouraged by the increase in crude oil transportation revenues even though adjusted EBITDA decreased quarter over quarter and year over year,” commented Blueknight’s CEO Mark Hurley. “Decreased crude oil storage rates at our terminal operation in Cushing associated with our planned transition to longer-term agreements impacted adjusted EBITDA. In addition, one-time costs relating to executive personnel …read more
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Capstone Companies, Inc. Announces Fourth Quarter 2012 Financial Results Release and Conference Call

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Capstone Companies, Inc. Announces Fourth Quarter 2012 Financial Results Release and Conference Call

DEERFIELD BEACH, Fla.–(BUSINESS WIRE)– Capstone Companies, Inc. (OTCQB: CAPC), a leader in the design and manufacture of specialty power failure lighting solutions and innovator of consumer safety and security products for the Hospitality, Retail and Institutional channels, will release its fourth quarter and year end 2012 financial results after the close of financial markets on Wednesday, March 27, 2013.

A conference call and webcast will be held at 11:30 a.m. ET on Thursday, March 28, 2013, in which President and Chief Executive Officer Stewart Wallach and Chief Financial Officer and Chief Operating Officer Gerry McClinton will review the Company’s financial results, as well as the Company’s strategy and outlook, followed by a question-and-answer session. The Capstone conference call can be accessed by dialing (201) 689-8562. The listen-only audio webcast can be monitored at www.capstonecompaniesinc.com.

A telephonic replay will be available from 2:30 p.m. ET the day of the call until Thursday, April 4, 2013. To listen to the archived call, dial (858) 384-5517 and enter conference ID number 410608. Alternatively, the archive of the webcast will be available on the Company’s website at www.capstonecompaniesinc.com, along with a transcript, once available.

About Capstone Companies, Inc.

Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc. and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products to accounts throughout North America and in international markets. See www.capstonecompaniesinc.com for more information about the Company and www.capstoneindustries.com for information on our current product offerings.

Capstone Companies, Inc.
Aimee Lev-Har
Corporate Secretary
Phone: (954) 252-3440, ext 313
or
Investor Relations:
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com

KEYWORDS:   United States  North America  Florida

INDUSTRY KEYWORDS:

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Dole Food Company, Inc. Announces Fourth Quarter and Full Year Results

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Dole Food Company, Inc. Announces Fourth Quarter and Full Year Results

Sale of Worldwide Packaged Foods and Asia Fresh Businesses on April 1, 2013

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)– Dole Food Company, Inc. (NYS: DOLE) today announced financial and operating results for the fourth quarter and fiscal year ended December 29, 2012. The consummation of the sale of Dole’s worldwide packaged foods and Asia fresh businesses on April 1, 2013 to ITOCHU Corporation, for $1.685 billion in cash, will result in a major portion of Dole’s operations being sold. The new Dole will have a smaller footprint as a commodity produce company with two lines of fresh produce businesses, which are classified as continuing operations: fresh fruit and fresh vegetables; and will no longer include the worldwide packaged foods and Asia fresh businesses as part of the Dole operations, which are classified as discontinued operations.

Dole reported results from its continuing operations (the two lines of fresh produce businesses remaining with the new Dole).

For the fourth quarter of 2012 Adjusted EBITDA from continuing operations was $(12) million compared to $11 million in the fourth quarter of 2011. Income (loss) from continuing operations for the fourth quarter of 2012 was $(88) million, or $(0.99) per share, compared to $6 million, or $0.06 per share, in the fourth quarter of 2011. Comparable income (loss) from continuing operations for the fourth quarter of 2012 was a loss of $(52) million, or $(0.59) per share, compared to $4 million, or $0.05 per share, in the fourth quarter of 2011 (see Exhibit 3).

For the full year, Adjusted EBITDA from continuing operations was $146 million compared to $196 million in 2011. Income from continuing operations for fiscal 2012 was $1 million, compared to $102 million, or $1.15 per share in 2011. Comparable income from continuing operations for fiscal 2012 was $44 million, or $0.49 per share, compared to $122 million, or $1.37 per share, in 2011 (see Exhibit 3).

“Fiscal 2012 results for both Dole’s continuing operations and its discontinued operations were lower compared to 2011 mainly due to banana market conditions and non-recurring charges for ITOCHU transaction related costs, provisions for certain previously-disclosed legal-related matters, and charges related to Typhoon Bopha in Asia,” said C. Michael Carter, Dole’s President and Chief Operating Officer. “The combined revenue of Dole’s discontinued operations being sold represented approximately 38% of Dole’s revenues, at $2.6 billion in 2012. The …read more
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The Bon-Ton Stores, Inc. Announces Fourth Quarter and Fiscal 2012 Results

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The Bon-Ton Stores, Inc. Announces Fourth Quarter and Fiscal 2012 Results


~ Fourth Quarter Net Income of $3.71 Per Diluted Share ~


~ Fiscal 2012 Net Loss of $1.16 Per Diluted Share ~

YORK, Pa.–(BUSINESS WIRE)– The Bon-Ton Stores, Inc. (Nasdaq: BONT) today reported operating results for the fourth quarter and fiscal 2012 ended February 2, 2013. Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period, respectively, in accordance with the National Retail Federation fiscal reporting calendar. This compares with a reporting period of 13 weeks and 52 weeks in the fourth quarter and fiscal 2011, ended January 28, 2012, respectively.

Fourth Quarter Highlights

  • Comparable store sales increased 1.0% as compared with the same 13-week period last year.
  • Gross margin rate increased 160 basis points to 36.2%, compared with 34.6% in the fourth quarter of fiscal 2011.
  • Operating income increased $14.9 million to $95.3 million, compared with $80.5 million in the fourth quarter of fiscal 2011.
  • Adjusted EBITDA increased $16.4 million to $122.8 million, compared with $106.4 million in the fourth quarter of fiscal 2011. Adjusted EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).
  • Net income totaled $74.4 million, or $3.71 per diluted share, compared with net income of $78.2 million, or $4.00 per diluted share, for the fourth quarter of fiscal 2011. Fourth quarter of fiscal 2011 results include income of $0.93 per diluted share associated with the net gain on extinguishment of debt.

Comments

Brendan Hoffman, President and Chief Executive Officer, commented, “We were pleased with our …read more
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Hudson Pacific Properties, Inc. Announces Fourth Quarter 2012 Financial Results

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Hudson Pacific Properties, Inc. Announces Fourth Quarter 2012 Financial Results

LOS ANGELES–(BUSINESS WIRE)– Hudson Pacific Properties, Inc. (the “Company”) (NYS: HPP) today announced financial results for the fourth quarter and full year ended December 31, 2012.

Financial Results

Funds From Operations (FFO) (excluding specified items) for the three months ended December 31, 2012 totaled $11.6 million, or $0.23 per diluted share, compared to FFO (excluding specified items) of $9.2 million, or $0.25 per share, a year ago. The specified items for the fourth quarter of 2012 consisted of expenses associated with the acquisition of The Pinnacle office property in Burbank, California of $0.2 million, or $0.00 per diluted share. Specified items for the fourth quarter of 2011 consisted of expenses associated with the acquisitions of 6922 Hollywood Boulevard in Los Angeles, of $0.9 million, or $0.03 per diluted share. FFO including the specified items totaled $11.4 million, or $0.23 per diluted share, for the three months ended December 31, 2012, compared to $8.3 million, or $0.23 per share, a year ago.

The Company reported a net loss attributable to common shareholders of $5.9 million, or $(0.13) per diluted share, for the three months ended December 31, 2012, compared to net loss attributable to common shareholders of $3.2 million, or $(0.10) per diluted share, for the three months ended December 31, 2011.

“We concluded 2012 with a very strong fourth quarter that included a significant acquisition and substantial leasing activity, particularly at our San Francisco properties,” said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties, Inc. “During the quarter, we announced the formation of a joint venture to acquire The Pinnacle, a two-building, 625,640 square foot, Class-A property located in the heart of the Burbank Media District. This property is extremely complimentary to our portfolio and will provide our Company with an immediate foothold in one of the top media and entertainment markets in the country. We also enjoyed unprecedented leasing activity throughout the fourth quarter with the execution of 705,905 square feet of new and renewal leases in the quarter, including a 246,078 square foot lease with Square, Inc. at our 1455 Market Street property (which has since expanded to 327,432, as described more fully below), a 235,733 square foot lease with salesforce.com at our Rincon Center property, a 54,763 square foot lease with GitHub for our entire 275 Brannan Street property, and a 17,521 square foot lease with Hotel Tonight, Inc. at our 901 Market Street …read more
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