National Presto Industries Inc. (NPK, Financial) filed Quarterly Report for the period ended 2010-10-02.
National Presto Industries Inc. has a market cap of $806.1 million; its shares were traded at around $117.45 with and P/S ratio of 1.7. The dividend yield of National Presto Industries Inc. stocks is 0.9%. National Presto Industries Inc. had an annual average earning growth of 36.2% over the past 10 years. GuruFocus rated National Presto Industries Inc. the business predictability rank of 2.5-star.NPK is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC, Paul Tudor Jones of The Tudor Group, John Keeley of Keeley Fund Management, Bruce Kovner of Caxton Associates, Mario Gabelli of GAMCO Investors.
Housewares/Small Appliance gross profits decreased $2,455,000 from $10,664,000 to $8,209,000, or 23%, primarily reflecting increased commodity and freight costs. Defense gross profits decreased $563,000 from $15,256,000 from the prior year's quarter to $14,693,000, or 4%, in largest part due to the sales decrease mentioned above. Absorbent Products gross profits decreased $1,563,000 from $3,024,000 to $1,461,000, or 52%, primarily reflecting increased commodity costs.
Earnings before provision for income taxes decreased $4,597,000 from $25,293,000 to $20,696,000. The provision for income taxes decreased from $8,588,000 to $7,483,000, which resulted in an effective income tax rate increase from 34% to 36%, primarily reflecting an increase in earnings subject to tax. Net earnings decreased $3,492,000 from $16,705,000 to $13,213,000, or 21%.
Housewares/Small Appliance net sales increased by $7,355,000 from $84,771,000 to $92,126,000, or 9%, primarily as a result of an increase in unit shipments. Defense net sales decreased by $1,272,000 from $186,382,000 to $185,110,000, or 1%, primarily reflecting a decrease in unit shipments. Absorbent Products net sales increased by $3,460,000 from $56,326,000 to $59,786,000, or 6%, which primarily reflected an increase in shipments.
Housewares/Small Appliance gross profits decreased $197,000 from $21,012,000 to $20,815,000, or 1%, primarily reflecting increased commodity and freight costs, which were almost completely offset by the increase in sales mentioned above. Defense gross profits increased $3,026,000 from $45,424,000 from the prior year to $48,450,000, or 7%, reflecting decreased material costs and a more favorable product mix, approximately 10% of which was offset by the decrease in sales mentioned above. Absorbent Products gross profits decreased $328,000 from $6,530,000 to $6,202,000, or 5%, primarily reflecting increased commodity costs, approximately half of which were offset by the increase in sales mentioned above.
Earnings before provision for income taxes increased $3,024,000 from $62,332,000 to $65,356,000. The provision for income taxes increased from $21,427,000 to $23,969,000, which resulted in an effective income tax rate increase from 34% to 37%, primarily reflecting an increase in earnings subject to tax. Net earnings increased $482,000 from $40,905,000 to $41,387,000, or 1%.
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National Presto Industries Inc. has a market cap of $806.1 million; its shares were traded at around $117.45 with and P/S ratio of 1.7. The dividend yield of National Presto Industries Inc. stocks is 0.9%. National Presto Industries Inc. had an annual average earning growth of 36.2% over the past 10 years. GuruFocus rated National Presto Industries Inc. the business predictability rank of 2.5-star.NPK is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC, Paul Tudor Jones of The Tudor Group, John Keeley of Keeley Fund Management, Bruce Kovner of Caxton Associates, Mario Gabelli of GAMCO Investors.
Highlight of Business Operations:
Housewares/Small Appliance net sales increased by $1,147,000 from $36,065,000 to $37,212,000, or 3%, primarily as a result of an increase in unit shipments. Defense net sales decreased by $5,366,000 from $61,566,000 to $56,200,000, or 9%, primarily reflecting a decrease in unit shipments and a less favorable product mix. Absorbent Products net sales increased by $1,374,000 from $18,761,000 to $20,135,000, or 7%, which primarily reflected an increase in shipments.Housewares/Small Appliance gross profits decreased $2,455,000 from $10,664,000 to $8,209,000, or 23%, primarily reflecting increased commodity and freight costs. Defense gross profits decreased $563,000 from $15,256,000 from the prior year's quarter to $14,693,000, or 4%, in largest part due to the sales decrease mentioned above. Absorbent Products gross profits decreased $1,563,000 from $3,024,000 to $1,461,000, or 52%, primarily reflecting increased commodity costs.
Earnings before provision for income taxes decreased $4,597,000 from $25,293,000 to $20,696,000. The provision for income taxes decreased from $8,588,000 to $7,483,000, which resulted in an effective income tax rate increase from 34% to 36%, primarily reflecting an increase in earnings subject to tax. Net earnings decreased $3,492,000 from $16,705,000 to $13,213,000, or 21%.
Housewares/Small Appliance net sales increased by $7,355,000 from $84,771,000 to $92,126,000, or 9%, primarily as a result of an increase in unit shipments. Defense net sales decreased by $1,272,000 from $186,382,000 to $185,110,000, or 1%, primarily reflecting a decrease in unit shipments. Absorbent Products net sales increased by $3,460,000 from $56,326,000 to $59,786,000, or 6%, which primarily reflected an increase in shipments.
Housewares/Small Appliance gross profits decreased $197,000 from $21,012,000 to $20,815,000, or 1%, primarily reflecting increased commodity and freight costs, which were almost completely offset by the increase in sales mentioned above. Defense gross profits increased $3,026,000 from $45,424,000 from the prior year to $48,450,000, or 7%, reflecting decreased material costs and a more favorable product mix, approximately 10% of which was offset by the decrease in sales mentioned above. Absorbent Products gross profits decreased $328,000 from $6,530,000 to $6,202,000, or 5%, primarily reflecting increased commodity costs, approximately half of which were offset by the increase in sales mentioned above.
Earnings before provision for income taxes increased $3,024,000 from $62,332,000 to $65,356,000. The provision for income taxes increased from $21,427,000 to $23,969,000, which resulted in an effective income tax rate increase from 34% to 37%, primarily reflecting an increase in earnings subject to tax. Net earnings increased $482,000 from $40,905,000 to $41,387,000, or 1%.
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