Alamo Group Inc. (ALG, Financial) filed Quarterly Report for the period ended 2009-09-30.
Alamo Group Inc. has a market cap of $150.91 million; its shares were traded at around $15.02 with a P/E ratio of 11.73 and P/S ratio of 0.27. The dividend yield of Alamo Group Inc. stocks is 1.6%. Alamo Group Inc. had an annual average earning growth of 5.7% over the past 10 years.
Selling, general and administrative expense (SG&A) was $17,983,000 (16.3% of net sales) during the third quarter of 2009 compared to $21,795,000 (14.7% of net sales) during the same period of 2008, a decrease of $3,812,000. The decrease came from reductions in headcounts despite severance costs along with lower commissions due to reduced sales volume.
The Companys net income after tax was $4,583,000 or $.46 per share on a diluted basis for the third quarter of 2009 compared to $4,453,000 or $.45 per share on a diluted basis for the third quarter of 2008. The increase of $130,000 resulted from the factors described above.
Selling, general and administrative expense (SG&A) were $55,478,000 (16.6% of net sales) during the first nine months of 2009 compared to $62,518,000 (14.4% of net sales) during the same period of 2008, a decrease of $7,040,000. The decrease in SG&A for the nine months of 2009 was due to reductions in workforce despite severance costs, reductions in insurance premiums and audit fees, and reduced commissions from lower sales volumes.
The Companys net income after tax was $9,118,000 or $.91 per share on a diluted basis for the first nine months of 2009 compared to $12,850,000 or $1.29 per share on a diluted basis for the first nine months of 2008. The decrease of $3,732,000 resulted from the factors described above.
The current warranty reserve balance was $5,186,000 at September 30, 2009 and $5,409,000 at December 31, 2008. The majority of the decrease came from lower reserves in the Companys U.S. Industrial Division. The Company has a long-term liability for extended warranty policies sold to customers in the amount of $299,000 at September 30, 2009 and $331,000 at December 31, 2008 with a life expectancy of 1 to 5 years.
Read the The complete ReportALG is in the portfolios of Third Avenue Management.
Alamo Group Inc. has a market cap of $150.91 million; its shares were traded at around $15.02 with a P/E ratio of 11.73 and P/S ratio of 0.27. The dividend yield of Alamo Group Inc. stocks is 1.6%. Alamo Group Inc. had an annual average earning growth of 5.7% over the past 10 years.
Highlight of Business Operations:
Net sales for the third quarter of 2009 were $110,318,000, a decrease of $38,389,000 or 25.8% compared to $148,707,000 for the third quarter of 2008. The decrease was primarily attributable to the decline in the worldwide economy which continued to affect the markets which the Company serves.Selling, general and administrative expense (SG&A) was $17,983,000 (16.3% of net sales) during the third quarter of 2009 compared to $21,795,000 (14.7% of net sales) during the same period of 2008, a decrease of $3,812,000. The decrease came from reductions in headcounts despite severance costs along with lower commissions due to reduced sales volume.
The Companys net income after tax was $4,583,000 or $.46 per share on a diluted basis for the third quarter of 2009 compared to $4,453,000 or $.45 per share on a diluted basis for the third quarter of 2008. The increase of $130,000 resulted from the factors described above.
Selling, general and administrative expense (SG&A) were $55,478,000 (16.6% of net sales) during the first nine months of 2009 compared to $62,518,000 (14.4% of net sales) during the same period of 2008, a decrease of $7,040,000. The decrease in SG&A for the nine months of 2009 was due to reductions in workforce despite severance costs, reductions in insurance premiums and audit fees, and reduced commissions from lower sales volumes.
The Companys net income after tax was $9,118,000 or $.91 per share on a diluted basis for the first nine months of 2009 compared to $12,850,000 or $1.29 per share on a diluted basis for the first nine months of 2008. The decrease of $3,732,000 resulted from the factors described above.
The current warranty reserve balance was $5,186,000 at September 30, 2009 and $5,409,000 at December 31, 2008. The majority of the decrease came from lower reserves in the Companys U.S. Industrial Division. The Company has a long-term liability for extended warranty policies sold to customers in the amount of $299,000 at September 30, 2009 and $331,000 at December 31, 2008 with a life expectancy of 1 to 5 years.
Read the The complete ReportALG is in the portfolios of Third Avenue Management.
