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CPAC, Inc. Comments on Fiscal Fourth Quarter Earnings
Thursday May 25, 4:28 pm ET


Announces CEO Takes Temporary Medical Leave to Recover From Surgery; Appoints Acting CEO and Lead Director


LEICESTER, NY--(MARKET WIRE)--May 25, 2006 -- CPAC, Inc. (NasdaqNM:CPAK - News), a manufacturer and marketer with holdings in the Cleaning & Personal Care and Imaging industries, today issued guidance for its fiscal fourth quarter ended March 31, 2006. The annual audit is currently in process and detailed results for the quarter and fiscal year ended March 31, 2006 are expected to be released upon completion of the audit, in mid-June.
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Company officials announced that net income for the fiscal fourth quarter is expected to be in the range of $0.14 to $0.18 per diluted share, versus a fourth quarter loss in fiscal 2005 of ($0.81) per diluted share.

Management noted Imaging segment sales gains in excess of 5% for the quarter, resulting primarily from the worldwide consolidation taking place in the traditional Imaging industry, particularly in foreign markets. These gains contributed to the increase in estimated profits. Gross margins have shown improvement in both the Imaging and Fuller Brands segments, while Selling, Administrative and Engineering expenses in both segments have been reduced as a result of cost cutting programs and organizational changes made over the past two years. In Fuller Brands, new customer contracts within the Cleaning Technologies Group have also improved profitability.

The Company further announced that CPAC, Inc. Chairman, President & CEO Thomas N. Hendrickson underwent surgery on Monday, May 8 to address a peptic ulcer. He has taken a temporary leave of absence to recover from surgery and is expected to return to work within a few months. The Company's Board of Directors has appointed CPAC, Inc. Vice President, Finance and Chief Financial Officer Thomas J. Weldgen Acting CEO during Mr. Hendrickson's absence. Mr. Weldgen has served as CFO for 14 years, working closely with Mr. Hendrickson and the rest of the senior leadership team in the executive and strategic management of the Company and he is also a member of the Board of Directors. The Company's independent Directors designated José J. Coronas as Lead Director to facilitate communications between the Board and Management.

About CPAC, Inc. Established in 1969, CPAC, Inc. (cpac.com) manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines. The CPAC Imaging segment develops and markets innovative Imaging chemicals, equipment, and supplies at seven operations worldwide. Products are sold under more than 350 registered trademarks. Stock is traded under the symbol: CPAK.

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect CPAC's business and prospects, including economic, competitive, governmental, technological, and other factors discussed in CPAC's filings with the Securities and Exchange Commission.
 

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Market Cap (intraday): 26.36M
Enterprise Value (27-May-06)3: 27.01M
Trailing P/E (ttm, intraday): N/A
Forward P/E (fye 31-Mar-07) 1: N/A
PEG Ratio (5 yr expected): N/A
Price/Sales (ttm): 0.27
Price/Book (mrq): 0.66
Enterprise Value/Revenue (ttm)3: 0.31
Enterprise Value/EBITDA (ttm)3: 15.433
 
bravo caruccio,come stai?? oggi sono venuto a casa tua,,,,mandrillone!!!
 
the volture ha scritto:
bravo caruccio,come stai?? oggi sono venuto a casa tua,,,,mandrillone!!!

difficile che mi becchi a casa,sto a casa di una tipa per il momento.... finche non mi rompo.. :D

ti chiamo prossimamente magari ci organizziamo per berci una birra assieme.
ciao massimo
 
miracolo1 ha scritto:
difficile che mi becchi a casa,sto a casa di una tipa per il momento.... finche non mi rompo.. :D

ti chiamo prossimamente magari ci organizziamo per berci una birra assieme.
ciao massimo


lo sapevo gia...e da diverso tempo :D :D
 
.22 eps...

:eek: :clap:
 
http://biz.yahoo.com/iw/060622/0138519.html



CPAC, Inc. Announces Fourth Quarter and Full-Year Results
Thursday June 22, 7:09 pm ET

LEICESTER, NY--(MARKET WIRE)--Jun 22, 2006 -- CPAC, Inc. (NasdaqNM:CPAK - News) today reported consolidated net income in the fourth quarter of FY '06 ended March 31, 2006 of $1.1 million or $0.22 per diluted share, versus a net loss of ($4.0 million) or ($0.81) per diluted share in last year's fourth quarter, resulting in a complete return to profitability for the full fiscal year. Last year's Q4 results included ($0.75) per diluted share in one-time, non-cash items as previously disclosed.

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Net sales for the fourth quarter were $23.4 million compared to $22.4 million for the same quarter last year, an increase of 4.1%.

Thomas J. Weldgen, CPAC, Inc. VP Finance, CFO, and Acting CEO, remarked, "After posting losses the last two years, improvements in the Imaging segment came as a result of major restructuring and cost reduction projects, and significant sales initiatives on a worldwide basis. Our strategy to become a preferred outsource supplier for traditional Imaging chemicals is proven. Our global manufacturing and distribution network provides the resources required to fulfill the needs of the most demanding international customers. We will continue to aggressively seek agreements with former competitors as they move away from silver halide chemical manufacturing, the area in which we have nearly 40 years of recognized expertise."

Mr. Weldgen continued, "This year, as Fuller Brush celebrates its 100th year in business and Stanley Home Products marks its 75th anniversary, the Fuller Brands segment also shared in favorable profit results. Fuller Brush continued its foray into new and existing channels. In addition to television home shopping, its products are now offered in several national retail outlets as well as regional chains like grocer Stop 'n Shop. Private label business developed over the past two years also grew. Similarly, Cleaning Technologies Group continued to strengthen its partnerships with new private label customers resulting in a $1.0 million sales increase over prior year. Favorable sales and operating profits have continued in both segments through the first two months of fiscal '07."

Q4 Results and Highlights by Segment

Fuller Brands Segment

Fourth quarter net sales in the Fuller Brands segment were on par with Q4 results in FY '06 at $13.7 million. Operating income increased over 300% to $725,000 over last year's fourth quarter operating income of $173,000, due largely to greater plant efficiencies resulting from cost-cutting programs coupled with increased private label business with its lower selling and shipping costs.

-- Fuller Brush sales for the quarter were down approximately 1.0%
compared to prior year. Television sales were lower due to fewer airings in
the quarter, but significant gains were made in both private label and
retail sales.

-- Cleaning Technologies Group (CTG) improved its sales for the quarter
by 8.0% over prior year, the result of both increased and new distributor
sales and national accounts business. In Q4, CTG added a new, large
private label account which contributed to the sales and profit
improvement.

-- Stanley Home Products reported a fourth quarter sales decline of 6.0%
resulting primarily from a lower number of direct selling representatives.

Imaging Segment

Fourth quarter Imaging segment sales improved by 10.9% to $9.7 million versus $8.7 million last year. Operating income was $432,000 compared with a loss of $(808,000) in last year's fourth quarter.

-- Imaging sales gains in the fourth quarter came from private label and
branded chemical manufacturing opportunities that have resulted from some
competitors exiting the traditional imaging market in favor of digital
imaging, or due to financial problems. Sales gains were attributable to
foreign operations. Domestic sales were on par with last year's fourth
quarter.

-- Gross margins improved and selling, administrative and engineering
expenses declined in the quarter, the result of price increases, cost
cutting programs, and organizational changes instituted over the past two
years.

-- A new initiative to package non-Imaging chemicals in the Norcross, GA
manufacturing plant has contributed to sales gains for the quarter.

Full Year Results

For the year ended March 31, 2006, CPAC, Inc. consolidated net sales were $87.0 million compared to last year's net sales of $87.2 million.

The Company reported consolidated net income for the full year of $465,000 or $0.09 per diluted share, versus a net loss of ($3.8 million) or ($0.78) per diluted share last year. Last year's results included ($0.80) per diluted share in one-time, non-cash charges, as previously disclosed.

Fuller Brands segment sales were down 2.2% to $51.7 million, compared to $52.9 million in the prior year. Segment profit for the full year was $702,000 versus $1.3 million in FY '05.

-- The Fuller Brush Company's sales were off due to fewer television
airings, the loss of a major private label brush customer to an off-shore
competitor at mid-year, and lower than expected sales into retail channels.
These shortfalls were offset somewhat by increases in outlet store sales.

-- Stanley Home Products' sales declined by 6.0% as compared to prior
year, partly the result of business lost in areas affected by Hurricane
Katrina. The Company also continued its roll out of a new compensation plan
in a second geographic area of the U.S. beginning in January 2006.

-- Cleaning Technologies Group net sales for FY '06 were up over $1.0
million or 6.0% resulting from new private label business, along with
increased distributor and national account business. CTG increased selling
prices in the second half of the year to offset rising material costs and
to improve profitability.

Consolidated Imaging sales for the fiscal year were up approximately 2.7% versus prior year, from $34.4 million last year to $35.3 million in this year. Full year profits were $765,000 compared to a loss in the last fiscal year of ($1.1 million). Domestic sales of chemicals and equipment were comparable to prior year. International sales grew by approximately 9.5% for the full year, with the Belgian and Italian units showing the greatest improvements.

Other Financial Information

On April 1, 2005 the Company had approximately $7.7 million in cash on hand. During this fiscal year, $677,000 was invested in new property and equipment, debt in the amount of $418,000 was retired, and shareholder dividends of approximately $1.4 million were distributed. On March 31, 2006 the Company had $6.2 million in cash and working capital of $30.0 million.

About CPAC, Inc.

Established in 1969, CPAC, Inc. (www.cpac.com) manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines. The CPAC Imaging segment develops and markets innovative Imaging chemicals, equipment, and supplies at seven operations worldwide. Products are sold under more than 350 registered trademarks. Stock is traded under the symbol: CPAK.

Except for the historical matters contained herein, statements in this press release are forward looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect CPAC's business and prospects, including economic, competitive, governmental, technological, and other factors discussed in CPAC's filings with the Securities and Exchange Commission.

CPAC, Inc.
RESULTS OF OPERATIONS DATA
MARCH 31, 2006 and MARCH 31, 2005
(UNAUDITED)

Three months ended
2006 2005 % change
----------- ----------- --------
Net sales:
Fuller Brands $13,697,997 $13,728,261 (0.2)
Imaging 9,668,692 8,717,099 10.9
----------- -----------
Total sales: $23,366,689 $22,445,360 4.1
=========== ===========

Net income (loss) $ 1,077,194 $(4,002,477)
=========== ===========

Diluted net income (loss) per
share $ 0.22 $ (0.81)
=========== ===========

Diluted shares outstanding 4,946,774 4,946,774



Twelve months ended
2006 2005 % change
----------- ----------- --------
Net sales:
Fuller Brands $51,700,953 $52,851,390 (2.2)
Imaging 35,299,440 34,361,854 2.7
----------- -----------
Total sales: $87,000,393 $87,213,244 (0.2)
=========== ===========

Net income (loss) $ 464,801 $(3,846,886)
=========== ===========

Diluted net income (loss) per
share $ 0.09 $ (0.78)
=========== ===========

Diluted shares outstanding 4,946,774 4,946,774




CPAC, Inc.
SUPPLEMENTAL SEGMENT DATA
MARCH 31, 2006 and MARCH 31, 2005
(UNAUDITED)


Three months ended March, 2006
FULLER
BRANDS IMAGING COMBINED
Net sales $13,697,997 $ 9,668,692 $23,366,689
Cost of sales 7,111,825 6,333,879 13,445,704
----------- ----------- -----------
Gross profits 6,586,172 3,334,813 9,920,985

Selling, administrative and
engineering expenses 5,726,764 2,859,086 8,585,850
Research and development expense 134,054 43,411 177,465
----------- ----------- -----------
Operating income $ 725,354 $ 432,316 1,157,670
=========== ===========
Corporate expense (100,878)
Interest expense, net (70,714)
-----------
Income (loss) before non-operating
income and income tax 986,078
Non-operating expense:
Minority interests (26,884)
-----------


Income before income taxes 959,194
Provision (benefit) for income taxes (118,000)
-----------
Net income $ 1,077,194
===========

Three months ended March, 2005
FULLER
BRANDS IMAGING COMBINED
Net sales $13,728,261 $ 8,717,099 $22,445,360
Cost of sales 7,291,601 5,944,173 13,235,774
----------- ----------- -----------
Gross profits 6,436,660 2,772,926 9,209,586

Selling, administrative and
engineering expenses 6,099,463 3,512,632 9,612,095
Research and development expense 164,450 68,108 232,558
----------- ----------- -----------
Operating income (loss) $ 172,747 $ (807,814) (635,067)
=========== ===========
Corporate expense (77,152)
Interest expense, net (93,697)
-----------
Loss before non-operating income
and income tax (805,916)
Non-operating expense:
Minority interests (11,561)
Investment expense (500,000)
-----------
(511,561)
-----------

Loss before income taxes (1,317,477)
Provision for income taxes 2,685,000
-----------
Net loss $(4,002,477)
===========




CPAC, Inc.
SUPPLEMENTAL SEGMENT DATA
MARCH 31, 2006 and MARCH 31, 2005
(UNAUDITED)

Twelve months ended March, 2006
FULLER
BRANDS IMAGING COMBINED
Net sales $51,700,953 $35,299,440 $87,000,393
Cost of sales 27,049,834 23,381,645 50,431,479
----------- ----------- -----------
Gross profits 24,651,119 11,917,795 36,568,914

Selling, administrative and
engineering expenses 23,364,713 10,904,899 34,269,612
Research and development expense 588,744 247,579 836,323
----------- ----------- -----------
Operating income $ 697,662 $ 765,317 1,462,979
=========== ===========
Corporate expense (488,654)
Interest expense, net (407,980)
-----------
Income before non-operating income
and income tax 566,345
Non-operating expense:
Minority interests (65,544)
-----------


Income before income taxes 500,801
Provision for income taxes 36,000
-----------
Net income $ 464,801
===========


Twelve months ended March, 2005
FULLER
BRANDS IMAGING COMBINED
Net sales $52,851,390 $34,361,854 $87,213,244
Cost of sales 27,242,616 22,812,039 50,054,655
----------- ----------- -----------
Gross profits 25,608,774 11,549,815 37,158,589

Selling, administrative and
engineering expenses 23,732,511 12,339,272 36,071,783
Research and development expense 612,045 285,435 897,480
----------- ----------- -----------
Operating income (loss) $ 1,264,218 $(1,074,892) 189,326
=========== ===========
Corporate expense (133,014)
Interest expense, net (390,792)
-----------
Loss before non-operating income
and income tax (334,480)
Non-operating expense:
Minority interests (174,970)
Equity in loss of affiliate (250,436)
Investment expense (500,000)
-----------
(925,406)
-----------

Loss before income taxes (1,259,886)
Provision for income taxes 2,587,000
-----------
Net loss $(3,846,886)
===========


Contact:

COMPANY CONTACTS:
Karen Ash, Mgr.,Corp Comm
Wendy F. Clay, VP, Admin
2364 Leicester Rd., Box 175
Leicester, NY 14481 USA
585-382-3223
http://www.cpac.com
 
CPAC, Inc. Announces Strong First Quarter Results and Declares Dividend
Friday August 11, 11:15 am ET


LEICESTER, NY--(MARKET WIRE)--Aug 11, 2006 -- CPAC, Inc. (NASDAQ:CPAK - News) today reported first quarter results for the fiscal year beginning April 1, 2006. The Board of Directors has declared a cash dividend in the amount of $0.07 per share payable on September 22, 2006 to shareholders of record at the close of business on August 25, 2006.
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Q1 Consolidated Results

Net sales for the first quarter ended June 30, 2006 increased 6.7% to $23.9 million compared to $22.4 million for the same quarter last year.

First quarter net income was $1.1 million or $0.22 per diluted share versus a net loss of $(139,000) or $(0.03) per diluted share for the same period last year.

Thomas J. Weldgen, VP Finance, Chief Financial Officer and Acting CEO of CPAC, Inc., remarked, "Both segments of our business experienced sales growth and profitability, resulting in the highest first quarter earnings per share reported in the last five years. The sales performance and operational expense reductions continued the trend started in the previous fiscal year's fourth quarter. Sales improvements resulted from several new customer relationships and contracts being executed within Fuller's commercial cleaning division, and in the International Imaging entities. In addition, television home shopping sales on QVC increased significantly in this quarter due to new product offerings and incremental airings."

Q1 Results and Highlights by Segment

Fuller Brands Segment

First quarter net sales in the Fuller Brands segment increased 6.4% to $15.4 million versus $14.5 million last year. Operating profit increased by nearly $1.0 million to $1.3 million this year.

-- Fuller Brush sales increased 11.7% for the period, based on improved
television home shopping, retail, and custom brush sales. Retail sales
increases were driven by additional product placements in a major national
home improvement chain.

-- Cleaning Technologies Group (CTG) sales increased by 6.2% for the
quarter, largely the result of increased national accounts business. Its
recent relationship with a leading industrial solvents distributor was also
a contributor to increased sales.
CPAC Imaging Segment

First quarter Imaging sales were $8.5 million versus $7.9 million last year, an increase of 7.4%. Operating income was $114,000 compared to an operating loss of $(241,000) in the same period last year.

-- International Imaging sales were up by 18.2% over last year's first
quarter, despite currency impacts. The Company expects to report continued
strong sales and profit growth in foreign markets in its second fiscal
quarter.

-- Domestic sales of medical imaging and photographic chemistry were
flat. CPAC Imaging, Americas has recently negotiated distribution and
manufacturing agreements to supply other companies' traditional Imaging
products in keeping with CPAC's strategy to be a preferred outsource
Imaging supplier. This new business is expected to provide incremental
growth to domestic operations for the remainder of the fiscal year.
Other Financial Information:

Mr. Weldgen said, "Due to the Company's strong first quarter performance, cash increased approximately $1.2 million during the period, after capital expenditures and dividend payments. On June 30, 2006 the Company had $7.4 million in cash and working capital of $31.3 million."

About CPAC, Inc.

Established in 1969, CPAC, Inc. (www.cpac.com) manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines. The CPAC Imaging segment develops and markets innovative Imaging chemicals, equipment, and supplies at seven operations worldwide. Products are sold under more than 350 registered trademarks. Stock is traded under the symbol: CPAK.

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect CPAC's business and prospects, including economic, competitive, governmental, technological, and other factors discussed in CPAC's filings with the Securities and Exchange Commission.
 
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