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MODPAC CORP. (MPAC) filed Quarterly Report for the period ended 2011-10-01.
Modpac Corp. has a market cap of $15.4 million; its shares were traded at around $5.629 with a P/E ratio of 8.8 and P/S ratio of 0.3.
This is the annual revenues and earnings per share of MPAC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of MPAC.
Highlight of Business Operations:
For the first nine months of 2011, total revenue was $41.7 million, compared with $35.9 million in 2010, an increase of 16.0%. The custom folding cartons product line sales were $32.5 million compared with $27.0 million in 2010. The increase of 20.6% was mainly due to increased business from several large existing customers, business from three new customers and increased waste sales due to improved market conditions, offset partially by decreased business from several large customers. Sales of the Company s stock packaging product line were $6.6 million, compared with $6.3 million in the prior year, an increase of 5.3% mainly due to improved general business conditions. Personalized print sales for the first nine months of 2011 were $2.2 million, a decrease of 4.2% compared to the in the same period of 2010, primarily due to continued weakness in the market.Gross margin was 18.7% for the first nine months of 2011, compared to 18.1% for the same period of 2010. Operational leverage generated by increased product sales had a positive impact on gross margin. Gross margin was also positively affected by decreased rental expense, offset partially by increased repairs, supplies and paperboard costs, depreciation expense and sales mix.
Accounts receivable increased by $1.0 million during the first nine months of 2011, primarily due to increased sales and the timing of payments from customers.
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