caesarstone sdot-yam ltd (CSTE) Key Developments
CaesarStone Sdot-Yam Ltd. Presents at 2014 Regional Real Estate & Building Products Conference, May-15-2014
May 12 14
CaesarStone Sdot-Yam Ltd. Presents at 2014 Regional Real Estate & Building Products Conference, May-15-2014 . Venue: One Madison Avenue, 12th Floor, New York, NY 10010, New York, United States.
CaesarStone Sdot-Yam Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Revises Earnings Guidance for the Full Year of 201
May 8 14
CaesarStone Sdot-Yam Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. Revenues in the first quarter of 2014 increased by 23.5% to $94.4 million compared to $76.4 million in the same quarter of the prior year. Operating income was up 32.1% to $17.3 million, a margin of 18.3%, compared to $13.1 million, a margin of 17.1%, in the first quarter of 2013. Adjusted EBITDA, which excludes share-based compensation and the excess cost of acquired inventory, increased by 25.4% to $22.1 million, a margin of 23.4%. This compares to adjusted EBITDA of $17.6 million, a margin of 23.1% in the first quarter of the prior year. The company reported net income attributable to controlling interest of $13.3 million compared to $10.5 million in the same quarter in the prior year. Diluted net income per share was $0.37 on 35.4 million shares compared to $0.30 per diluted share on 35.0 million shares in the prior year's first quarter. On an adjusted basis, net income per share was $0.39 compared to $0.32 in the prior year. Income before taxes on income was $15.702 million compared to $12.882 million a year ago. Net cash provided by operating activities was $6.889 million compared to $6.11 million a year ago. Purchase of property, plant and equipment was $6.38 million compared to $2.79 million a year ago.
The company revised earnings guidance for the full year of 2014. Following a strong first quarter and to reflect current and expected ongoing, healthy demand and an improvement in both inventory and manufacturing throughput, the company increased its revenue guidance for the full year of 2014 to a new range of $420 to $430 million as compared to its prior range of $410 million to $420 million. Additionally, the company increased its expected range of adjusted EBITDA for the full year to $108 million to $113 million as compared to its prior expected range of $104 million to $109 million.
CaesarStone Sdot-Yam Ltd. Presents at JP Morgan Homebuilding & Building Products Conference, May-14-2014 03:30 PM
May 1 14
CaesarStone Sdot-Yam Ltd. Presents at JP Morgan Homebuilding & Building Products Conference, May-14-2014 03:30 PM. Venue: J.P. Morgan, 270 Park Avenue, New York, New York, United States. Speakers: Yair Averbuch, Chief Financial Officer, Yosef Shiran, Chief Executive Officer.
CaesarStone Sdot-Yam Ltd. announced delayed 20-F filing
May 1 14
On 05/01/2014, CaesarStone Sdot-Yam Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC.
Caesarstone Sdot-Yam Ltd. Announces Lawsuit by Single Plaintiff in Central District Court of the State of Israel
Apr 28 14
Caesarstone Sdot-Yam Ltd. announced that a lawsuit by single plaintiff and a motion for the recognition of this lawsuit as a class action was filed against it in the Central District Court of the State of Israel. The claim alleged that Caesarstone acted negligently, did not provide the required information and misled the plaintiff by not providing notice with respect to the risks of contracting silicosis to which he and the putative class were exposed while processing Caesarstone's products, thus violating the plaintiff's freedom to choose whether to be exposed to such risks. The plaintiff alleged that, if the lawsuit is recognized as a class action, the claim against Caesarstone is estimated to be ILS 216 million ($62.2 million) plus an unstated sum in compensation for bodily injury requiring proof and quantification for each injured person in the purported class action. Excluding this claim, Caesarstone is now subject to 39 other separate claims in Israel related to the alleged contraction of silicosis, none of which are class action claims, and has received additional pre-litigation letters from potential claimants in Israel.