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Alamo Group Inc. (ALG) filed Quarterly Report for the period ended 2011-09-30.
Alamo Group Inc. has a market cap of $299.6 million; its shares were traded at around $25.16 with a P/E ratio of 12.8 and P/S ratio of 0.5. The dividend yield of Alamo Group Inc. stocks is 0.9%. 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 third quarter of 2011 were $155,057,000, an increase of $18,384,000, or 13.5% compared to $136,673,000 for the third quarter of 2010. The increase was from improved sales in all three of the Company's segments. Agricultural markets continued to increase while sales in our governmental areas improved due to demand from end users. 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 $4,501,000 in the third quarter of 2011 and $4,375,000 in the third quarter of 2010, with no impact on reported net income.Gross profit for the third quarter of 2011 was $37,223,000 (24.0% of net sales) compared to $32,390,000 (23.7% of net sales) during the same period in 2010, an increase of $4,833,000. The increase was from improved sales in all three segments and, to a lesser extent, lower manufacturing costs. Increases in the Company s replacement part business also supported higher margins as well as improved margin percentages.
Selling, general and administrative expenses (“SG&A”) were $22,762,000 (14.7% of net sales) during the third quarter of 2011 compared to $21,273,000 (15.6% of net sales) during the same period of 2010, an increase of $1,489,000. The increase was mainly from higher sales commissions on increased sales, $250,000 in legal fees from the acquisition of Tenco and $119,000 in expense relating to the supplemental retirement plan that was adopted on January 3, 2011.
Gross profit for the first nine months of 2011 was $106,515,000 (23.3% of net sales) compared to $89,206,000 (22.0% of net sales) during the same period in 2010, an increase of $17,309,000. The increase was from improved sales in all of the Company's segments and increases in replacement part sales reflected higher margins as well as improved margin percentages. Gross margin percentages also improved over 2010 as a result of continued improvements from efficiency initiatives which helped to lower manufacturing costs.
Selling, general and administrative expenses (“SG&A”) were $69,007,000 (15.1% of net sales) during the first nine months of 2011 compared to $64,296,000 (15.8% of net sales) during the same period of 2010, an increase of $4,711,000. The increase in SG&A for the first nine months of 2011 was mainly from higher sales commissions on increased sales, $250,000 in legal fees from the acquisition of Tenco and $356,000 in expense relating to the supplemental retirement plan that was adopted on January 3, 2011.
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