Ball Corp. Reports Operating Results (10-K)
Ball Corp has a market cap of $6.52 billion; its shares were traded at around $39.98 with a P/E ratio of 14.8 and P/S ratio of 0.8. The dividend yield of Ball Corp stocks is 0.7%. Ball Corp had an annual average earning growth of 12.4% over the past 10 years. GuruFocus rated Ball Corp the business predictability rank of 4.5-star.
Highlight of Business Operations:Backlog in the aerospace and technologies segment was $897 million and $989 million at December 31, 2011 and 2010, respectively, and consisted of the aggregate contract value of firm orders, excluding amounts previously recognized as revenue. The 2011 backlog includes $507 million expected to be recognized in revenues during 2012, with the remainder expected to be recognized in revenues thereafter. Unfunded amounts included in backlog for certain firm government orders, which are subject to annual funding, were $470 million and $620 million at December 31, 2011 and 2010, respectively. Year-over-year comparisons of backlog are not necessarily indicative of the trend of future operations due to the nature of varying delivery and milestone schedules on contracts and funding of programs.
Segment sales in 2011 were $565.4 million higher compared to 2010 attributable mainly to $268 million from the consolidation of Latapack-Ball and the acquisition of two PRC joint ventures, $190 million from higher sales volumes and $96 million from higher commodity input prices.
Segment sales in 2011 increased $318.5 million compared to 2010 due to $180 million from the inclusion of Aerocan sales, $100 million from the effect of currency exchange rates and $31 million from higher sales volumes.
Segment earnings in 2011 increased $30.2 million compared to 2010 due to $38 million earnings contribution from the Aerocan acquisition, $13 million from the effect of currency exchange rates and $13 million from higher volumes, partially offset by $35 million from higher inventory and other costs.
Segment earnings in 2010 decreased $1.3 million compared to 2009, primarily due to the result of a $28 million increase from higher sales volumes, offset by $18 million from negative effects from currency translation and $12 million of higher inventory and other costs.
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