Print
Email
Alamo Group Inc. (ALG) filed Quarterly Report for the period ended 2011-06-30.
Alamo Group Inc. has a market cap of $281.6 million; its shares were traded at around $23.7 with a P/E ratio of 14.6 and P/S ratio of 0.5. The dividend yield of Alamo Group Inc. stocks is 1%. Alamo Group Inc. had an annual average earning growth of 9% over the past 10 years. GuruFocus rated Alamo Group Inc. the business predictability rank of 1-star.
This is the annual revenues and earnings per share of ALG over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ALG.
Highlight of Business Operations:
Net sales for the second quarter of 2011 were $160,824,000, an increase of $22,755,000, or 16.5% compared to $138,069,000 for the second quarter of 2010. The increase was from improved sales in all three of the Company's segments. Agricultural markets remained steady while sales in our governmental areas improved due to demand from end users to replace equipment that was nearing the end of its economic life. Also included in these sales is the effect of a reclassification of freight revenue. Freight billed to customers had been previously recorded net of cost of sales and has been reclassified to sales. This change resulted in an increase in net sales of $4,438,000 in the second quarter of 2011 and $3,735,000 in the second quarter of 2010, with no impact on reported net income.
Selling, general and administrative expenses (“SG&A”) were $23,685,000 (14.7% of net sales) during the second quarter of 2011 compared to $21,355,000 (15.5% of net sales) during the same period of 2010, an increase of $2,330,000. The increase was mainly from higher sales commissions on increased sales and $119,000 in expense relating to the supplemental retirement plan that was adopted on January 3, 2011.
The Company s net income after tax was $8,914,000 or $0.74 per share on a diluted basis for the second quarter of 2011 compared to $4,870,000 or $0.41 per share on a diluted basis for the second quarter of 2010. The increase of $4,044,000 resulted from the factors described above.
Selling, general and administrative expenses (“SG&A”) were $46,245,000 (15.3% of net sales) during the first six months of 2011 compared to $43,023,000 (16.0% of net sales) during the same period of 2010, an increase of $3,222,000. The increase in SG&A for the first six months of 2011 was mainly from higher sales commissions on increased sales and $238,000 in expense relating to the supplemental retirement plan that was adopted on January 3, 2011.
The Company's net income after tax was $14,581,000 or $1.22 per share on a diluted basis for the first six months of 2011 compared to $8,863,000 or $0.75 per share on a diluted basis for the first six months of 2010. The increase of $5,718,000 resulted from the factors described above.
As of June 30, 2011, there was $54,500,000 borrowed under the revolving credit facility. On June 30, 2011, $1,157,000 of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors contracts resulting in approximately $44,000,000 in available borrowings.
Subscribe RSS
