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Om Group, Inc. has a market cap of $513.2 million; its shares were traded at around $16.09 with a P/E ratio of 4.6 and P/S ratio of 0.3.
Highlight of Business Operations:Gross profit decreased to $56.2 million in the three months ended June 30, 2012, compared with $73.5 million in the three months ended June 30, 2011, primarily due to unfavorable price for cobalt, copper and other metals; higher process-based material costs in Advanced Materials; and decreased volume in Specialty Chemicals. Excluding the VAC inventory purchase accounting step-up and LCM charges, gross profit as a percentage of net sales was 25.2% in the three months ended June 30, 2012 compared with 22.3% in the three months ended June 30, 2011 due to the contribution of higher VAC margins.
Gross profit increased to $169.0 million in the six months ended June 30, 2012, compared with $155.5 million in the six months ended June 30, 2011, primarily due to the gross profit from VAC and higher volumes and favorable mix in Battery Technologies, partially offset by unfavorable price for cobalt, copper and other metals, higher process-based material costs in Advanced Materials and decreased volume in Specialty Chemicals. Excluding VAC inventory purchase accounting step-up and LCM charges of $69.6 million, gross profit as a percentage of net sales was 26.4% in the six months ended June 30, 2012 compared with 23.5% in the six months ended June 30, 2011 due to the contribution of higher VAC margins.
The operating profit decrease in the three and six months ended June 30, 2012 compared with the three and six months ended June 30, 2011 was primarily due to decreased volume, partially offset by a $2.9 million property sale gain included in Other in the table above in the six months ended June 30, 2012.
The Battery Technologies segment tracks backlog, which is equal to the value of unfulfilled orders for which funding is contractually obligated by the customer and for which revenue has not been recognized. At June 30, 2012, backlog was $106.2 million as compared with $122.9 million at December 31, 2011. $66.1 million of the backlog at June 30, 2012 is expected to be converted into sales during the last six months of 2012.
Operating profit in the three and six months ended June 30, 2012 compared with the three and six months ended June 30, 2011 benefited from higher volumes and favorable mix. Other in the table above includes lower income from sales of recycled material of $2.0 million and $2.1 million in three and six months ended June 30, 2012, respectively, compared with the comparable prior year periods.
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