Miller Industries Inc. (MLR, Financial) filed Quarterly Report for the period ended 2012-03-31.
Miller Inds Inc has a market cap of $178.8 million; its shares were traded at around $16.23 with a P/E ratio of 8.4 and P/S ratio of 0.4. The dividend yield of Miller Inds Inc stocks is 3.2%. Miller Inds Inc had an annual average earning growth of 3.9% over the past 10 years.
Net sales for the three months ended March 31, 2012 decreased 12.8% to $95.0 million from $108.9 million for the comparable period in 2011. The decrease in revenue was attributable to the absence of revenues in 2012 from follow-on orders from a prime contractor for government-related sales as discussed above offset partially by increased activity from our commercial customers.
Costs of operations for the three months ended March 31, 2012 decreased 4.7% to $84.1 million from $88.2 million for the comparable period in 2011, which was attributable to the decrease in governmental sales described above. Overall, costs of operations increased as a percentage of sales from 81.0% to 88.5%, primarily due to product mix during the quarter consisting of a higher percentage of lower margin chassis sales.
Selling, general, and administrative expenses for the three months ended March 31, 2012 decreased to $7.0 million from $8.1 million for the three months ended March 31, 2011. This decrease was attributable to the lower sales levels during the period, as well as decreased sales commissions and incentives. As a percentage of sales, selling, general, and administrative expenses decreased slightly to 7.4% for the three months ended March 31, 2012 from 7.5% for the three months ended March 31, 2011 due to the fixed nature of certain of these expenses.
Total interest expense increased to $0.2 million from $0.1 million for the three months ended March 31, 2012 as compared to the comparable period in 2011. Increases in interest expense were primarily from higher floor plan interest resulting from higher domestic commercial sales levels during the quarter.
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Miller Inds Inc has a market cap of $178.8 million; its shares were traded at around $16.23 with a P/E ratio of 8.4 and P/S ratio of 0.4. The dividend yield of Miller Inds Inc stocks is 3.2%. Miller Inds Inc had an annual average earning growth of 3.9% over the past 10 years.
Highlight of Business Operations:
No single customer accounted for 10% or more of consolidated net sales for the three months ended March 31, 2012. The Company s largest customer accounted for 41.6% of consolidated net sales for the three months ended March 31, 2011, and 7.2% of accounts receivable at December 31, 2011.Net sales for the three months ended March 31, 2012 decreased 12.8% to $95.0 million from $108.9 million for the comparable period in 2011. The decrease in revenue was attributable to the absence of revenues in 2012 from follow-on orders from a prime contractor for government-related sales as discussed above offset partially by increased activity from our commercial customers.
Costs of operations for the three months ended March 31, 2012 decreased 4.7% to $84.1 million from $88.2 million for the comparable period in 2011, which was attributable to the decrease in governmental sales described above. Overall, costs of operations increased as a percentage of sales from 81.0% to 88.5%, primarily due to product mix during the quarter consisting of a higher percentage of lower margin chassis sales.
Selling, general, and administrative expenses for the three months ended March 31, 2012 decreased to $7.0 million from $8.1 million for the three months ended March 31, 2011. This decrease was attributable to the lower sales levels during the period, as well as decreased sales commissions and incentives. As a percentage of sales, selling, general, and administrative expenses decreased slightly to 7.4% for the three months ended March 31, 2012 from 7.5% for the three months ended March 31, 2011 due to the fixed nature of certain of these expenses.
Total interest expense increased to $0.2 million from $0.1 million for the three months ended March 31, 2012 as compared to the comparable period in 2011. Increases in interest expense were primarily from higher floor plan interest resulting from higher domestic commercial sales levels during the quarter.
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