Kewaunee Scientific Corp. (KEQU) comes on our radar after reporting a profit for the second quarter, reflecting a 20% growth in sales and reduced manufacturing and administrative costs.
Net profit for the second quarter was $649,000 or $0.25 per share, compared to a loss of $125,000 or $0.05 per share a year ago.
Sales for the quarter rose 20% to $31 million from $26 million last year.
The order backlog at the end of the quarter rose to $91 million from $78 million in the prior year.
Quarterly Results
Q1 - FY13
- Q1 net income $634,000 or $0.25 per share, up from $22,000 or $0.01 per share last year.
- Q1 sales improved 1.4% to $26.68 million from sales of $26.32 million last year.
Q4 - FY12
- Q4 net profit was $1.26 million or $0.49 per share versus $252 thousand or $0.10 per share last year.
- Q4 total revenues grew 8% to $28.99 million from $26.95 million last year.
Q3 - FY12
- Q3 net loss was $122,000 or $0.05 per share versus profit $86,000 or $0.03 per share last year.
- Q3 sales declined 4% to $21.6 million from $22.6 million last year.
Annual Financial Data
For the fiscal year ended April 30, 2012, the company reported net income of $1.03 million or $0.40 per share, compared to $1.85 million or $0.72 per share in 2011, and $3.57 million or $1.39 per share in 2010.
Net sales rose to $102.8 million in fiscal 2012, from $100 million in 2011, and $99.1 million in 2010.
Company Profile
Kewaunee Scientific designs, manufactures, and installs laboratory, healthcare, and technical furniture products in the United States and internationally.
The company offers laboratory furniture products, including steel and wood cabinetry, fume hoods, adaptable modular systems, moveable workstations, casework, biological safety cabinets, and epoxy resin counters and sinks; healthcare furniture products, such as laminate casework, systems, and related products for healthcare applications; and technical furniture products consisting of column systems, slotted-post systems, pedestal systems, and stand-alone benches. Its products also include flexible systems, worksurfaces, workbenches, and computer enclosures.
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