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National Presto Industries Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 11, 2012 05:21PM
National Presto Industries Inc. (NPK) filed Quarterly Report for the period ended 2012-04-01.
Highlight of Business Operations:Net cash provided by operating activities was $11,664,000 and $21,734,000 for the three months ended April 1, 2012 and April 3, 2011, respectively. The principal factors contributing to the decrease can be found in the changes in the components of working capital within the Consolidated Statements of Cash Flows. Of particular note during the first three months of 2012 were net earnings of $9,344,000; a decrease in accounts receivable levels stemming from cash collections on customer sales, partially offset by net decreases in payable and accrual levels. Of particular note during the first three months of 2011 were net earnings of $11,363,000; a decrease in accounts receivable levels stemming from cash collections on customer sales, partially offset by an increase in deposits made with suppliers included in other current assets and decreases in payable and accrual levels.
Net cash provided by investing activities during the first three months of 2012 was $256,000, as compared to $9,498,000 provided during the first three months of 2011. The change in investing activity cash flow is primarily attributable to a decrease in net maturities/sales of marketable securities, augmented by an increase in capital expenditures.