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Black Box Corp. (BBOX) filed Quarterly Report for the period ended 2011-12-31.
Black Box Corp. has a market cap of $519.4 million; its shares were traded at around $29.38 with a P/E ratio of 9.4 and P/S ratio of 0.5. The dividend yield of Black Box Corp. stocks is 0.9%. Black Box Corp. had an annual average earning growth of 2% over the past 10 years.
This is the annual revenues and earnings per share of BBOX over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of BBOX.
Highlight of Business Operations:
Gross profit for Data Infrastructure for 3Q12 was $14,550, or 24.9% of revenues, compared to gross profit for 3Q11 of $15,427, or 24.5% of revenues. Gross profit for Voice Communications for 3Q12 was $51,472, or 31.0% of revenues, compared to gross profit for 3Q11 of $52,667, or 32.1% of revenues. Gross profit for Technology Products for 3Q12 was $22,291, or 43.4% of revenues, compared to gross profit for 3Q11 of $22,558, or 45.5% of revenues. Please see the preceding paragraph for the analysis of gross profit variances by segment.Total revenues for 3QYTD12 were $831,536, an increase of 2% compared to total revenues for 3QYTD11 of $813,199. The Acquired Companies contributed incremental revenue of $58,184 and $4,323 for 3QYTD12 and 3QYTD11, respectively. Excluding the effects of the acquisitions and the positive exchange rate impact of $7,418 in 3QYTD12 relative to the U.S. dollar, total revenues would have decreased 5% from $808,876 in 3QYTD11 to $765,934 in 3QYTD12 for the reasons discussed below.
Gross profit for Data Infrastructure for 3QYTD12 was $46,110, or 24.7% of revenues, compared to gross profit for 3QYTD11 of $43,853, or 25.7% of revenues. Gross profit for Voice Communications for 3QYTD12 was $151,238, or 30.5% of revenues, compared to gross profit for 3QYTD11 of $161,347, or 32.2% of revenues. Gross profit for Technology Products for 3QYTD12 was $66,412, or 44.4% of revenues, compared to gross profit for 3QYTD11 of $65,186, or 45.9% of revenues. Please see the preceding paragraph for the analysis of gross profit variances by segment.
Selling, general & administrative expenses for 3QYTD12 were $192,544, an increase of 1% compared to Selling, general & administrative expenses for 3QYTD11 of $191,450. Selling, general & administrative expenses as a percent of revenues for 3QYTD12 were 23.2%, a decrease of 0.3% compared to Selling, general & administrative expenses as a percent of revenues for 3QYTD11 of 23.5%. The increase in Selling, general & administrative expenses was primarily due to additional operating expenses for the Acquired Companies of approximately $5,573 partially offset by the impact of the Company's continued effort to provide an efficient cost structure and a decrease in variable insurance costs of $684 and stock-based compensation of $494. The decrease in Selling, general & administrative expenses as a percent of revenue over the prior year was primarily due to disproportionate Selling, general & administrative expenses as a percent of revenue from the Acquired Companies.
Net cash provided by operating activities during 3QYTD11 was $36,072. Significant factors contributing to the source of cash were: net income of $40,604 inclusive of non-cash charges of $13,672 and $7,999 for amortization/depreciation expense and stock compensation expense, respectively, as well as increases in trade accounts payable of $6,140, billings in excess of costs of $4,723 and accrued taxes of $1,449. Significant factors contributing to a use of cash include increases in trade accounts receivable, net inventory and costs in excess of billings of $9,161, $2,320 and $25,012, respectively, as well as decreases in restructuring reserves of $3,071 and other liabilities of $2,667. The increase in costs in excess of billings reflects additional large contracts where contract billing terms do not necessarily coincide with percentage-of-completion revenue recognition. It should be noted that the increase in costs in excess of billings represents revenue growth and not a delay in the collection of working capital. Changes in the above accounts are based on average Fiscal 2011 exchange rates.
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