Last $46.86 USD
Change Today +0.56 / 1.21%
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

greatbatch inc (GB) Key Developments

Greatbatch, Inc. Announces the Resignation of Michelle Graham as Senior Vice President of Human Resources, Effective on January 3, 2015

on September 19, 2014, Greatbatch, Inc. entered into a letter agreement with Michelle graham, the company’s senior vice president of human resources. Ms. graham will be resigning her employment with the company, effective January 3, 2015. Ms. graham has also resigned as an officer of the company effective September 19, 2014 although she will remain available through January 3, 2015 to assist the company as needed with transitioning the human resources function.

Greatbatch, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2014; Reaffirms Earnings Guidance for the Year 2014

Greatbatch, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 4, 2014. For the quarter, the company reported sales of $172,081,000 compared to $171,331,000 a year ago. Operating income was $19,539,000 compared to $17,135,000 a year ago. This increase was primarily due to increased gross profit and lower SG&A and RD&E expenses. Income before provision for income taxes was $18,132,000 compared to $15,011,000 a year ago. Net income was $12,348,000 or $0.48 per diluted share compared to $9,752,000 or $0.39 per diluted share a year ago. Adjusted operating income was $23,800,000 compared to $22,192,000 a year ago. Adjusted net income was $15,532,000 or $0.60 per diluted share compared to $13,935,000 or $0.56 per diluted share a year ago. Adjusted EBITDA was $33,109,000 compared to $31,281,000 a year ago. Cash flows provided by operating activities for the second quarter of 2014 were $19.5 million compared to a usage of $1.0 million for the 2013 second quarter. This quarter over quarter increase was primarily due to a higher level of operating income in 2014, improved working capital management, as well as an $11.5 million estimated tax payment made in the second quarter of 2013 in connection with the retirement of convertible subordinated notes in 2013. Capital expenditures were $6.0 million compared to $4.8 million a year ago. For the six months, the company reported sales of $346,362,000 compared to $319,596,000 a year ago. Operating income was $42,063,000 compared to $31,474,000 a year ago. Income before provision for income taxes was $40,193,000 compared to $22,077,000 a year ago. Net income was $27,270,000 or $1.06 per diluted share compared to $15,415,000 or $0.62 per diluted share a year ago. Adjusted operating income was $46,110,000 compared to $41,503,000 a year ago. Adjusted net income was $29,357,000 or $1.14 per diluted share compared to $24,654,000 or $0.99 per diluted share a year ago. Adjusted EBITDA was $64,671,000 compared to $59,356,000 a year ago. Capital expenditures were $12.0 million compared to $11.6 million a year ago. The company is reaffirming, 2014 guidance of 3% to 6% organic constant currency revenue growth and 7% to 12% adjusted diluted EPS improvement. The company expects sales in the range of $685 million to $705 million, capital expenditures in the range of $25 million to $35 million, GAAP/adjusted effective tax rate in the range of 32% to 34%, GAAP diluted EPS in the range of $1.94 to $1.99, adjusted diluted EPS in the range of $2.25 to $2.35. If reinstated, 2014 GAAP effective tax rate could be lowered to 30% to 32%.

Greatbatch, Inc. to Report Q2, 2014 Results on Jul 31, 2014

Greatbatch, Inc. announced that they will report Q2, 2014 results After-Market on Jul 31, 2014

Greatbatch, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Greatbatch, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Greatbatch, Inc. Presents at 2014 Western New York Investors Conference, Sep-26-2014 09:10 AM

Greatbatch, Inc. Presents at 2014 Western New York Investors Conference, Sep-26-2014 09:10 AM. Venue: Embassy Suites Buffalo, 200 Delaware Ave, Buffalo, NY 14202, United States.

 

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