Last $4,800 USD
Change Today -100.00 / -2.04%
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

lict corp (LICT) Key Developments

LICT Corporation Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

LICT Corporation reported earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net income attributable to the company of $1.85 million, or $82.50 per share, compared to $1.79 million, or $76.90 per share, for the same quarter ended December 31, 2012. Revenues were $24.85 million, compared to $23.83 million for the same quarter ended December 31, 2012. For the year, the company reported net income attributable to the company of $8.06 million, or $354.91 per share, compared to $15.87 million, or $677.38 per share, for the year ended December 31, 2012. Revenues were $96.18 million, compared to $95.14 million for the year ended December 31, 2012.

LICT Corporation Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Full Year 2014

LICT Corporation reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues increased by $1.5 million, or 6.4% to $25.0 million compared to the corresponding quarter in 2013. EBITDA before corporate costs was $10.5 million versus $9.1 million, an increase of $1.4 million, or 15.4%, compared to 2013. Earnings per share excluding unusual items, during the first quarter were $122.31 in 2014 versus $100.65 in 2013. Capital expenditures were $3.3 million for the first quarter compared to $3.4 million in 2013. Operating profit was $4,749,000 against $4,065,000 a year ago. Income before income tax provision was $4,497,000 against $4,121,000 a year ago. Net Income attributable to LICT was $2,749,000 or $122.31 per basic and diluted share against $2,529,000 or $110.18 per basic and diluted share a year ago. The company continues to estimate that 2014 revenues and EBITDA, prior to corporate costs but including cash received from equity affiliates, will be roughly $100 million and $41 million, respectively, as compared to 2013 revenues of $96.2 million and EBITDA of $37.2 million. These 2014 estimates include the results of DFT for the full year, of $15.0 million in revenue and $3.0 million in EBITDA.

LICT Mulls Acquisitions

LICT Corporation (OTCPK:LICT) is seeking acquisition opportunities. LICT has obtained a $25 million Line of Credit from a private investment firm. With the new financing which expires on June 30, 2015, LICT now has increased financial flexibility to make acquisitions, fund capital investments, and repurchase shares.

LICT Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for 2013

LICT Corporation reported earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net income attributable to the company of $1.94 million or $85.59 per share compared to $2.22 million or $94.78 per share for the same quarter ended September 30, 2012. Revenues were $24.16 million compared to $24.20 million for the same quarter ended September 30, 2012. For the nine months, the company reported net income attributable to the company of $6.21 million or $272.31 per share compared to $14.08 million or $599.57 per share for the same period ended September 30, 2012. Revenues were $71.34 million compared to $71.31 million for the same period ended September 30, 2012. The company provided earnings guidance for 2013. For 2013, the company expects revenues of $97 million compared to $95 million in 2012. The company expects EBITDA of $38 million, and earnings per share of $390.

LICT Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Provides Earnings Guidance for the Year 2013

LICT Corporation reported earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported revenues of $23,714,000 against $23,975,000 a year ago. Income before income tax provision was $2,868,000 against $3,224,000 a year ago. Net income was $1,775,000 or $77.84 per share basic and diluted against $1,972,000 or $83.98 per share basic and diluted a year ago. Net income attributable to the company was $1,742,000 or $76.39 per share basic and diluted against $1,953,000 or $83.17 per share basic and diluted a year ago. Capital Expenditures were $4,168,000 against $3,185,000 a year ago. Total EBITDA was $8,321,000 against $9,107,000 a year ago. Operating profit was $3,670,000 against $4,116,000 a year ago. For the six months, the company reported revenues of $47,181,000 against $47,107,000 a year ago. Income before income tax provision was $6,989,000 against $17,940,000 a year ago. Net income was $4,333,000 or $189.39 per share basic and diluted against $11,895,000 or $505.99 per share basic and diluted a year ago. Net income attributable to the company was $4,271,000 or $186.68 per share basic and diluted against $11,858,000 or $504.41 per share basic and diluted a year ago. Capital Expenditures were $7,594,000 against $5,475,000 a year ago. Total EBITDA was $16,717,000 against $17,897,000 a year ago. Operating profit was $7,735,000 against $7,834,000 a year ago. The company currently expects 2013 revenues to be approximately $96 million compared to $95 million in 2012. Prior to corporate costs, EBITDA, including cash received from its equity affiliates, is expected to be about $37.4 million in 2013, compared to $39.6 million in 2012. The company expects net capital spending to be between $12 million to $17 million.

 

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