Chase Corp (CCF, Financial) filed Quarterly Report for the period ended 2011-11-30.
Chase Corp. has a market cap of $119.63 million; its shares were traded at around $13.36 with a P/E ratio of 11.62 and P/S ratio of 0.97. The dividend yield of Chase Corp. stocks is 2.62%. Chase Corp. had an annual average earning growth of 9.7% over the past 10 years.
Revenues from our Construction Materials segment decreased $453,000 or 3% to $12,644,000 in the current quarter compared to $13,097,000 in the same period last year. The reduced sales from our Construction Materials segment in the current quarter was primarily due to decreased sales of $1,340,000 of our coating and lining systems (CIM Industries) which experienced a record first quarter in fiscal 2011, as well as decreased sales of $985,000 from our highway construction products due to the timing of projects. These decreases were partially offset by increased sales of $1,164,000 from our pipeline products as we had strong demand for pipeline products produced at our UK facility, and increased sales of $708,000 from our private label products due to increased demand from some of our key customers.
Cost of products and services sold increased $1,939,000 or 10% to $21,999,000 in the quarter ended November 30, 2011 compared to $20,060,000 in the same period in fiscal 2011. As a percentage of revenues, cost of products and services sold increased to 68% in the current fiscal year compared to 64% in the same period in fiscal 2011.
Cost of products and services sold in our Industrial Materials segment was $12,708,000 for the first three months of fiscal 2012 compared to $11,594,000 for the same period in the prior year. As a percentage of revenues, cost of products and services sold in the Industrial Materials segment increased primarily due to non-recurring moving expenses of $233,000 related to our plant transition from Webster to Oxford and severance costs of $100,000 related to the planned move from our Randolph plant. Certain supplier inconsistencies that resulted in excess waste and incremental expenses related to the utilization of specialized testing facilities for analyzing incoming raw materials for proper specifications also had a negative impact on this segment.
Other income increased $361,000 to $477,000 in the quarter ended November 30, 2011 compared to $116,000 in the same period in the prior year. Other income primarily includes interest income and foreign exchange gains (losses) caused by changes in exchange rates on transactions or balances denominated in currencies other than the functional currency of our subsidiaries. In the current quarter, other income also includes a gain of $425,000 recognized on deposit payments previously received on the sale of our Evanston, IL property. The Company is in the process of taking back control and ownership of this leased asset which was previously sold by us under a seller financing arrangement (see note 11 to the consolidated financial statements). The increase in other income is partially offset by decreased foreign exchange gains caused by the continued weakening of the euro, and the subsequent revaluation of some of our European sales transactions completed in other functional currencies (and subsequently translated to the sterling and the euro).
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Chase Corp. has a market cap of $119.63 million; its shares were traded at around $13.36 with a P/E ratio of 11.62 and P/S ratio of 0.97. The dividend yield of Chase Corp. stocks is 2.62%. Chase Corp. had an annual average earning growth of 9.7% over the past 10 years.
Highlight of Business Operations:
Total revenues increased $863,000 or 3% to $32,130,000 for the quarter ended November 30, 2011 compared to $31,267,000 in the same quarter of the prior year. Revenues in our Industrial Materials segment increased $1,316,000 or 7% to $19,486,000 for the quarter ended November 30, 2011 compared to $18,170,000 in the same quarter of the prior year. The increase in revenues from our Industrial Materials segment in the current quarter was primarily due to increased sales of $1,697,000 from our wire & cable product line as we continue to benefit from strong demand in the power cable and communication cable markets. These were partially offset by decreased sales of $155,000 from our electronic coatings product line primarily due to weak demand for export sales into Asia.Revenues from our Construction Materials segment decreased $453,000 or 3% to $12,644,000 in the current quarter compared to $13,097,000 in the same period last year. The reduced sales from our Construction Materials segment in the current quarter was primarily due to decreased sales of $1,340,000 of our coating and lining systems (CIM Industries) which experienced a record first quarter in fiscal 2011, as well as decreased sales of $985,000 from our highway construction products due to the timing of projects. These decreases were partially offset by increased sales of $1,164,000 from our pipeline products as we had strong demand for pipeline products produced at our UK facility, and increased sales of $708,000 from our private label products due to increased demand from some of our key customers.
Cost of products and services sold increased $1,939,000 or 10% to $21,999,000 in the quarter ended November 30, 2011 compared to $20,060,000 in the same period in fiscal 2011. As a percentage of revenues, cost of products and services sold increased to 68% in the current fiscal year compared to 64% in the same period in fiscal 2011.
Cost of products and services sold in our Industrial Materials segment was $12,708,000 for the first three months of fiscal 2012 compared to $11,594,000 for the same period in the prior year. As a percentage of revenues, cost of products and services sold in the Industrial Materials segment increased primarily due to non-recurring moving expenses of $233,000 related to our plant transition from Webster to Oxford and severance costs of $100,000 related to the planned move from our Randolph plant. Certain supplier inconsistencies that resulted in excess waste and incremental expenses related to the utilization of specialized testing facilities for analyzing incoming raw materials for proper specifications also had a negative impact on this segment.
Other income increased $361,000 to $477,000 in the quarter ended November 30, 2011 compared to $116,000 in the same period in the prior year. Other income primarily includes interest income and foreign exchange gains (losses) caused by changes in exchange rates on transactions or balances denominated in currencies other than the functional currency of our subsidiaries. In the current quarter, other income also includes a gain of $425,000 recognized on deposit payments previously received on the sale of our Evanston, IL property. The Company is in the process of taking back control and ownership of this leased asset which was previously sold by us under a seller financing arrangement (see note 11 to the consolidated financial statements). The increase in other income is partially offset by decreased foreign exchange gains caused by the continued weakening of the euro, and the subsequent revaluation of some of our European sales transactions completed in other functional currencies (and subsequently translated to the sterling and the euro).
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