Edac Technologies Corp. (EDAC, Financial) filed Quarterly Report for the period ended 2012-06-30.
Edac Technologies Corporation has a market cap of $67.3 million; its shares were traded at around $13.34 with a P/E ratio of 16.1 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 $4,457 or 31.2% and $ÂÂÂÂÂ7,520 or 26.9%, respectively, for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was due to the increased shipments of fan cases and stators and to the $1,137 contribution from the Company s June 1, 2012 acquisition of EBTEC. EDAC Aero s sales backlog was approximately $290,943 at June 30, 2012.
Sales to non-aerospace customers increased $2,184, or 43.2%,and $2,464, or 22.8%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increases were due to increased non-aerospace sales in the Apex product line.
Selling, General and Administrative Expenses. Selling, general and administrative expenses increased approximately $859, or 45.1%,and $1,162, or 30.2%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011, due primarily to $450 of one-time expenses related to the acquisition of EBTEC along with increased compensation and bonus. Segment Income from Operations. Operating income for the Aerospace segment (EDAC Aero product line) increased $486, or 51.5%, and $1,330, or 79.9%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was driven primarily by the profit impact of higher sales volumes. Operating income for the Industrial segment (Apex Machine Tool and EDAC Machinery product lines) increased $271, or 34.5%, and $671, or 72.3%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was primarily due to increased sales volumes as well as an ongoing effort towards the production of more complex parts in the Apex Machine Tool product line.
Segment Income from Operations. Operating income for the Aerospace segment (EDAC Aero product line) increased $486, or 51.5%, and $1,330, or 79.9%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was driven primarily by the profit impact of higher sales volumes.
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Edac Technologies Corporation has a market cap of $67.3 million; its shares were traded at around $13.34 with a P/E ratio of 16.1 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 $4,664 or 21.3% and $ÂÂÂÂÂ8,495 or 20.2%, for the three and six month periods ended June 30, 2012, respectively, as compared to the three and six month periods ended July 2, 2011. Sales increases by product line for the three and six month periods ended June 30, 2012 compared to the three and six month periods ended July 2, 2011 were as follows (in thousands):Segment sales. Sales for the Aerospace segment (EDAC Aero product line) increased $4,457 or 31.2% and $ÂÂÂÂÂ7,520 or 26.9%, respectively, for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was due to the increased shipments of fan cases and stators and to the $1,137 contribution from the Company s June 1, 2012 acquisition of EBTEC. EDAC Aero s sales backlog was approximately $290,943 at June 30, 2012.
Sales to non-aerospace customers increased $2,184, or 43.2%,and $2,464, or 22.8%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increases were due to increased non-aerospace sales in the Apex product line.
Selling, General and Administrative Expenses. Selling, general and administrative expenses increased approximately $859, or 45.1%,and $1,162, or 30.2%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011, due primarily to $450 of one-time expenses related to the acquisition of EBTEC along with increased compensation and bonus. Segment Income from Operations. Operating income for the Aerospace segment (EDAC Aero product line) increased $486, or 51.5%, and $1,330, or 79.9%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was driven primarily by the profit impact of higher sales volumes. Operating income for the Industrial segment (Apex Machine Tool and EDAC Machinery product lines) increased $271, or 34.5%, and $671, or 72.3%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was primarily due to increased sales volumes as well as an ongoing effort towards the production of more complex parts in the Apex Machine Tool product line.
Segment Income from Operations. Operating income for the Aerospace segment (EDAC Aero product line) increased $486, or 51.5%, and $1,330, or 79.9%, respectively for the three and six month periods ended June 30, 2012, as compared to the three and six month periods ended July 2, 2011. The increase was driven primarily by the profit impact of higher sales volumes.
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