OilDri Corp. of America Reports Operating Results (10-K)

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Oct 12, 2011
OilDri Corp. of America (ODC, Financial) filed Annual Report for the period ended 2011-07-31.

Oildri Corp. Of America has a market cap of $100.4 million; its shares were traded at around $19.74 with a P/E ratio of 16.6 and P/S ratio of 0.5. The dividend yield of Oildri Corp. Of America stocks is 3.4%. Oildri Corp. Of America had an annual average earning growth of 9.5% over the past 5 years.

Highlight of Business Operations:

Sales to Wal-Mart Stores, Inc. (“Walmart”) and its affiliates accounted for approximately 21%, 20% and 26% of our total net sales for the fiscal years ended July 31, 2011, 2010 and 2009, respectively. Walmart is a customer in our Retail and Wholesale Products Group segment. During fiscal 2011, Walmart reinstated our branded scoopable litter following the reduction in the number of cat litter brands carried, including ours, during the first quarter of fiscal 2010. There are no customers in the Business to Business Products Group with sales equal to or greater than 10% of our total sales; however, sales to Clorox (a customer in our Business to Business Products Group) and its affiliates accounted for approximately 8%, 9% and 8% of total net sales for fiscal years 2011, 2010 and 2009, respectively. The degree of margin contribution of our significant customers in the Business to Business Products Group varies, with certain customers having a greater effect on our operating results. The loss of any customer other than those described in this paragraph would not be expected to have a material adverse effect on our business.

At July 31, 2011, 2010 and 2009, our backlog of orders was approximately $5,145,000, $6,368,000, and $6,015,000, respectively. The value of backlog orders is determined by the number of tons on backlog order and the net selling prices. All backlog orders are expected to be filled within the next 12 months. We consider our business, taken as a whole, to be only moderately seasonal; however, business activities of certain customers (such as agricultural chemical manufacturers) are subject to such seasonal factors as crop acreage planted and product formulation cycles.

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