MOCON Inc. (MOCO, Financial) filed Annual Report for the period ended 2011-12-31.
Mocon Inc has a market cap of $92.1 million; its shares were traded at around $16.69 with a P/E ratio of 17.4 and P/S ratio of 2.5. The dividend yield of Mocon Inc stocks is 2.4%. Mocon Inc had an annual average earning growth of 5% over the past 10 years.
Sales of our permeation testing products and services, which accounted for 59% and 57% of our consolidated sales in 2011 and 2010, respectively, increased $4,082,000, or 23% in 2011 compared to 2010. This increase in permeation sales was evident in both our domestic and foreign markets, and reflected increasing sales for newer applications in the sustainable packaging materials market, as well as the electronics industry for measurement of water vapor permeation in flexible displays, solar panels and organic light-emitting diodes (OLEDs). In total, domestic sales of permeation equipment and services increased 29%, while foreign sales showed a 20% increase. Our AQUATRAN instrument, which measures ultra-low levels of water vapor permeation, continues to be a significant contributor in this product group.
Sales for 2010 were $31,549,000, an increase of 18% compared to $26,638,000 for 2009. We experienced increased sales in all of our major product lines in 2010 as compared to 2009. These increases, we believe, were due primarily to global pent-up demand from a soft 2009 as well as the extension of Federal tax incentives for domestic purchases of capital equipment. Sales of permeation instruments accounted for a significant portion of the dollar increase due primarily to strong demand in the Asian markets. Our consolidated domestic sales, which accounted for 44% of total sales in both 2010 and 2009, increased 17% in 2010. Our consolidated foreign sales, which accounted for 56% of total sales in both 2010 and 2009, increased 20% in 2010 over 2009. The impact of any price increases was not significant in 2010.
Research and development (R&D) expenses were $2,403,000 and $2,135,000 in 2011 and 2010, or 6.4% and 6.8% of sales, respectively. The increased expense in 2011 is primarily related to the continued development of the GreenLight product line for the food safety market, and is net of approximately $175,000 received from Luxcel for collaborative research efforts. For the foreseeable future, we intend to continue to allocate on an annual basis approximately 6% to 8% of sales to research and development. We believe continued R&D expenditures are necessary as we develop new products to expand revenue opportunities in our niche markets and remain competitive.
R&D expenses were $2,135,000 and $1,848,000 in 2010 and 2009, or 6.8% and 6.9% of sales, respectively. The increased expense in 2010 is primarily related to the development of new products for the food safety market, and is net of approximately $165,000 received from Luxcel for collaborative research efforts. For the foreseeable future, we intend to continue to allocate on an annual basis approximately 6% to 8% of sales to research and development.
Read the The complete Report
Mocon Inc has a market cap of $92.1 million; its shares were traded at around $16.69 with a P/E ratio of 17.4 and P/S ratio of 2.5. The dividend yield of Mocon Inc stocks is 2.4%. Mocon Inc had an annual average earning growth of 5% over the past 10 years.
Highlight of Business Operations:
Sales for 2011 were $37,361,000, an increase of 18% compared to $31,549,000 for 2010. We experienced double-digit sales growth in our three major product categories, and our domestic and international sales volume increased 18% and 19%, respectively. Despite the ongoing concerns over the economic situation in Europe, we experienced a 21% increase in sales to that region, particularly in Germany and Italy. Sales in Asia were slightly lower in 2011 compared to 2010 primarily due to a large order placed by the Chinese government in 2010 that did not repeat in 2011. We experienced significant growth in newer markets such as South America and Australia. The impact of price increases was not significant in 2011.Sales of our permeation testing products and services, which accounted for 59% and 57% of our consolidated sales in 2011 and 2010, respectively, increased $4,082,000, or 23% in 2011 compared to 2010. This increase in permeation sales was evident in both our domestic and foreign markets, and reflected increasing sales for newer applications in the sustainable packaging materials market, as well as the electronics industry for measurement of water vapor permeation in flexible displays, solar panels and organic light-emitting diodes (OLEDs). In total, domestic sales of permeation equipment and services increased 29%, while foreign sales showed a 20% increase. Our AQUATRAN instrument, which measures ultra-low levels of water vapor permeation, continues to be a significant contributor in this product group.
Sales for 2010 were $31,549,000, an increase of 18% compared to $26,638,000 for 2009. We experienced increased sales in all of our major product lines in 2010 as compared to 2009. These increases, we believe, were due primarily to global pent-up demand from a soft 2009 as well as the extension of Federal tax incentives for domestic purchases of capital equipment. Sales of permeation instruments accounted for a significant portion of the dollar increase due primarily to strong demand in the Asian markets. Our consolidated domestic sales, which accounted for 44% of total sales in both 2010 and 2009, increased 17% in 2010. Our consolidated foreign sales, which accounted for 56% of total sales in both 2010 and 2009, increased 20% in 2010 over 2009. The impact of any price increases was not significant in 2010.
Research and development (R&D) expenses were $2,403,000 and $2,135,000 in 2011 and 2010, or 6.4% and 6.8% of sales, respectively. The increased expense in 2011 is primarily related to the continued development of the GreenLight product line for the food safety market, and is net of approximately $175,000 received from Luxcel for collaborative research efforts. For the foreseeable future, we intend to continue to allocate on an annual basis approximately 6% to 8% of sales to research and development. We believe continued R&D expenditures are necessary as we develop new products to expand revenue opportunities in our niche markets and remain competitive.
R&D expenses were $2,135,000 and $1,848,000 in 2010 and 2009, or 6.8% and 6.9% of sales, respectively. The increased expense in 2010 is primarily related to the development of new products for the food safety market, and is net of approximately $165,000 received from Luxcel for collaborative research efforts. For the foreseeable future, we intend to continue to allocate on an annual basis approximately 6% to 8% of sales to research and development.
Read the The complete Report
