Edac Technologies Corp. (EDAC, Financial) filed Quarterly Report for the period ended 2012-09-29.
Edac Technologies Corporation has a market cap of $66.8 million; its shares were traded at around $14.14 with a P/E ratio of 14.3 and P/S ratio of 0.8. Edac Technologies Corporation had an annual average earning growth of 1.3% over the past 5 years.
Segment sales. Sales for the Aerospace segment (EDAC Aero product line) increased $4,431 or 30.0% and $11,951 or 28.0%, respectively, for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011. The increase was due to the increased shipments of fan cases and stators and to the contributions in the amounts of $3,175 and $4,312, for the three and nine month periods ended September 29, 2012, from the Company s June 1, 2012 acquisition of EBTEC. EDAC Aerospace s sales backlog was approximately $301,761 at September 29, 2012.
Sales for the Industrial segment (Apex Machine Tool and EDAC Machinery product lines) increased $1,183 or 16.7% and $2,158 or 10.2%, respectively, for the three and nine month periods ended September 29, 2012. The Apex Machine Tool product line increased $1,215, or 24.4% and $2,984, or 19.9%, respectively for the three and nine month periods ended September 29, 2012, as compared to the three month and nine month periods ended October 1, 2011, due to new customers and increased business with current customers. The EDAC Machinery product line decreased $32, or 1.5% and $826 or 13.3%, respectively, for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011 due to decreased demand of spindle and precision grinder products from aerospace and automotive customers. The Industrial Segment s sales backlog was approximately $11,908 at September 29, 2012.
As of September 29, 2012, the Company s total sales backlog was approximately $313,669 compared to $304,253 as of June 30, 2012, and compared to $ÂÂÂÂ252,100, as of December 31, 2011. Backlog consists of accepted purchase orders and long-term contracts that are cancelable by the customer without penalty, except for payment of costs incurred. The Company presently expects to complete approximately $25,000 of its September 29, 2012 backlog during the remainder of the 2012 fiscal year. The remaining $288,669 of backlog is deliverable in fiscal year 2013 and beyond.
Sales to non-aerospace customers increased $2,023, or 31.9%, and $4,698, or 27.4%, respectively for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011. The increases were due to new customers and to increased non-aerospace sales in the Apex Machine Tool product line.
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Edac Technologies Corporation has a market cap of $66.8 million; its shares were traded at around $14.14 with a P/E ratio of 14.3 and P/S ratio of 0.8. Edac Technologies Corporation had an annual average earning growth of 1.3% over the past 5 years.
Highlight of Business Operations:
The Company s sales increased $5,614 or 25.7% and $14,109 or 22.1%, for the three and nine month periods ended September 29, 2012, respectively, as compared to the three and nine month periods ended October 1, 2011. Sales increases by product line for the three and nine month periods ended September 29, 2012 compared to the three and nine month periods ended October 1, 2011 were as follows:Segment sales. Sales for the Aerospace segment (EDAC Aero product line) increased $4,431 or 30.0% and $11,951 or 28.0%, respectively, for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011. The increase was due to the increased shipments of fan cases and stators and to the contributions in the amounts of $3,175 and $4,312, for the three and nine month periods ended September 29, 2012, from the Company s June 1, 2012 acquisition of EBTEC. EDAC Aerospace s sales backlog was approximately $301,761 at September 29, 2012.
Sales for the Industrial segment (Apex Machine Tool and EDAC Machinery product lines) increased $1,183 or 16.7% and $2,158 or 10.2%, respectively, for the three and nine month periods ended September 29, 2012. The Apex Machine Tool product line increased $1,215, or 24.4% and $2,984, or 19.9%, respectively for the three and nine month periods ended September 29, 2012, as compared to the three month and nine month periods ended October 1, 2011, due to new customers and increased business with current customers. The EDAC Machinery product line decreased $32, or 1.5% and $826 or 13.3%, respectively, for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011 due to decreased demand of spindle and precision grinder products from aerospace and automotive customers. The Industrial Segment s sales backlog was approximately $11,908 at September 29, 2012.
As of September 29, 2012, the Company s total sales backlog was approximately $313,669 compared to $304,253 as of June 30, 2012, and compared to $ÂÂÂÂ252,100, as of December 31, 2011. Backlog consists of accepted purchase orders and long-term contracts that are cancelable by the customer without penalty, except for payment of costs incurred. The Company presently expects to complete approximately $25,000 of its September 29, 2012 backlog during the remainder of the 2012 fiscal year. The remaining $288,669 of backlog is deliverable in fiscal year 2013 and beyond.
Sales to non-aerospace customers increased $2,023, or 31.9%, and $4,698, or 27.4%, respectively for the three and nine month periods ended September 29, 2012, as compared to the three and nine month periods ended October 1, 2011. The increases were due to new customers and to increased non-aerospace sales in the Apex Machine Tool product line.
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