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DUSSELDORF, GERMANY -- Henkel's third-quarter sales rose 12% to 3,760 million euros on solid organic growth and the acquisition of certain National Starch businesses. The currency-adjusted growth was 15.8%. Net earnings fell to 107 million euros.
During the quarter, EBIT fell to 191 million euros as the company took restructuring charges of 181 million euros. The adjusted EBIT rose 6.3% to 391 million euros.
Henkel CEO Kasper Rorsted said, "All our business sectors contributed to this growth, each outperforming its relevant markets. Once again, it was particularly our businesses in the growth regions that supported this positive development. The integration of the National Starch businesses, which were major contributors to the substantial rise in total sales, continues on schedule."
Adhesive Technologies sales rose 31.8% to 1.86 million euros after adjusting for currency exchange, due to the acquisition of National Starch's Adhesives and Electronic Materials businesses. Organic growth was 3.6%. The operating profit rose to 169 million euros, up 8.1% after currency exchanges.
During the quarter, EBIT fell to 191 million euros as the company took restructuring charges of 181 million euros. The adjusted EBIT rose 6.3% to 391 million euros.
Henkel CEO Kasper Rorsted said, "All our business sectors contributed to this growth, each outperforming its relevant markets. Once again, it was particularly our businesses in the growth regions that supported this positive development. The integration of the National Starch businesses, which were major contributors to the substantial rise in total sales, continues on schedule."
Adhesive Technologies sales rose 31.8% to 1.86 million euros after adjusting for currency exchange, due to the acquisition of National Starch's Adhesives and Electronic Materials businesses. Organic growth was 3.6%. The operating profit rose to 169 million euros, up 8.1% after currency exchanges.
Henkel guided for full-year organic sales growth (after adjusting for foreign exchange and acquisitions/divestments) of 3 to 5%, and net operating profit growth of 10%.
JACKSON, MI – EMS provider Sparton Corp. reported first-quarter fiscal 2009 sales of $54 million, down 8.25% year-over-year.
Gross profit was $2.38 million, up 3.22% compared to the same period last year.
For the quarter, Sparton recorded an operating loss of $2.85 million, compared to an operating loss of $2.05 million last year.
The firm reported consistent sonobuoy drop tests and improved sales in the aerospace market.
"We are disappointed at the lower than expected sales. We are very pleased with the successful and consistent execution of the sonobuoy contracts this year, as well as the increase in the aerospace sales and favorable forecast for future sales in the medical market as well,” said Richard Langley, interim CEO and president.
In addition, with the closure of the Albuquerque facility, while a difficult decision to make, will have a positive impact going forward … Gross inventories have decreased approximately $3 million over the past three months and over $7 million since the spring of 2008, primarily the result of better inventory management."
TORONTO -- SMTC Corp. bucked an industry trend, reporting upticks in third-quarter net income ($100,000) and revenue ($60.1 million).
Sales were up 11.3%, while earnings showed a big bump from the year-ago net loss of $1.2 million. However, sales were down 9% sequentially.
Sales were up 11.3%, while earnings showed a big bump from the year-ago net loss of $1.2 million. However, sales were down 9% sequentially.
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