Young Innovations Inc. (YDNT, Financial) filed Quarterly Report for the period ended 2011-03-31.
Young Innovations Inc. has a market cap of $239.5 million; its shares were traded at around $29.85 with a P/E ratio of 15.9 and P/S ratio of 2.3. The dividend yield of Young Innovations Inc. stocks is 0.5%. Young Innovations Inc. had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated Young Innovations Inc. the business predictability rank of 2.5-star.
Gross profit increased $661 or 4.8% to $14,463 in the first quarter of 2011 compared to $13,802 in the first quarter of 2010. The gross margin percentage of 55.6% in the first quarter of 2011 changed slightly from 55.7% in the first quarter of 2010. The increase in gross margin dollars was a result of higher sales volume, while the slight change in gross margin percentage is primarily attributable to the mix of products sold.
Income from operations increased $359 or 6.6% to $5,766 in the first quarter of 2011 compared to $5,407 in the first quarter of 2010. The change was a result of the factors described above.
Interest expense, net decreased $28 to $73 in the first quarter of 2011 from $101 in the first quarter of 2010. The decrease was primarily attributable to lower borrowings on the Company's credit facility.
Historically, the Company has financed its operations primarily through cash flow from operating activities and, to a lesser extent, through borrowings under its credit facility. Net cash flow from operating activities was $2,959 and $7,542 for the first three months of 2011 and 2010, respectively. Operating cash flow decreased in 2011 when compared to 2010 primarily due to a decrease in accounts payable as a result of the timing of vendor payments, planned increases in inventory, as well as an increase in accounts receivable resulting from increased sales. The timing of collections did not adversely impact the aging of receivables. Net capital expenditures for property, plant and equipment were $528 and $1,077 for the three months of 2011 and 2010, respectively. Total cash flow benefited from a gain from the sale of a portfolio company of the Company s private equity investment fund and an increase in net income.
A theoretical 100 basis point increase in interest rates would have resulted in approximately $49 and $112 of additional interest expense in the three month periods ended March 31, 2011 and 2010, respectively. Alternatively, a 100 basis point decrease in interest rates would have reduced interest expense by approximately $49 and $112 in the three month periods ended March 31, 2011 and 2010, respectively.
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Young Innovations Inc. has a market cap of $239.5 million; its shares were traded at around $29.85 with a P/E ratio of 15.9 and P/S ratio of 2.3. The dividend yield of Young Innovations Inc. stocks is 0.5%. Young Innovations Inc. had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated Young Innovations Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
Net sales increased $1,242 or 5.0% to $26,024 in the first quarter of 2011 from $24,782 in the first quarter of 2010. The sales increase was driven by strong growth for our diagnostic products, as well as solid demand for our consumable products, which include preventive, infection control, endodontic, micro-applicators and home care product lines.Gross profit increased $661 or 4.8% to $14,463 in the first quarter of 2011 compared to $13,802 in the first quarter of 2010. The gross margin percentage of 55.6% in the first quarter of 2011 changed slightly from 55.7% in the first quarter of 2010. The increase in gross margin dollars was a result of higher sales volume, while the slight change in gross margin percentage is primarily attributable to the mix of products sold.
Income from operations increased $359 or 6.6% to $5,766 in the first quarter of 2011 compared to $5,407 in the first quarter of 2010. The change was a result of the factors described above.
Interest expense, net decreased $28 to $73 in the first quarter of 2011 from $101 in the first quarter of 2010. The decrease was primarily attributable to lower borrowings on the Company's credit facility.
Historically, the Company has financed its operations primarily through cash flow from operating activities and, to a lesser extent, through borrowings under its credit facility. Net cash flow from operating activities was $2,959 and $7,542 for the first three months of 2011 and 2010, respectively. Operating cash flow decreased in 2011 when compared to 2010 primarily due to a decrease in accounts payable as a result of the timing of vendor payments, planned increases in inventory, as well as an increase in accounts receivable resulting from increased sales. The timing of collections did not adversely impact the aging of receivables. Net capital expenditures for property, plant and equipment were $528 and $1,077 for the three months of 2011 and 2010, respectively. Total cash flow benefited from a gain from the sale of a portfolio company of the Company s private equity investment fund and an increase in net income.
A theoretical 100 basis point increase in interest rates would have resulted in approximately $49 and $112 of additional interest expense in the three month periods ended March 31, 2011 and 2010, respectively. Alternatively, a 100 basis point decrease in interest rates would have reduced interest expense by approximately $49 and $112 in the three month periods ended March 31, 2011 and 2010, respectively.
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