Last $43.69 USD
Change Today +0.36 / 0.83%
Volume 44.5K
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

patrick industries inc (PATK) Key Developments

Patrick Industries Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 28, 2014; Provides Capital Expenditures Guidance for the Full Year 2014

Patrick Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2014. For the quarter, net sales were $188,138,000 against $146,623,000 a year ago. The increase was primarily attributable to a 34% increase in the company's revenue from the RV industry, which represented 73% of the company's third quarter 2014 sales. Operating income was $12,490,000 against $8,975,000 a year ago. Income before income taxes was $11,796,000 compared to $8,434,000 a year ago. Net income was $7,254,000 or $0.68 per diluted share compared to $5,452,000 or $0.51 per diluted share a year ago. Capital expenditures were $4.2 million. For the nine months, net sales were $546,143,000 against $448,319,000 a year ago. Operating income was $39,768,000 against $32,305,000 a year ago. Income before income taxes was $38,018,000 compared to $30,690,000 a year ago. Net income was $23,381,000 or $2.18 per diluted share compared to $19,028,000 or $1.76 per diluted share a year ago. For the full year 2014, the company estimates total capital expenditures to be approximately $8 million.

Patrick Industries Inc. to Report Q3, 2014 Results on Oct 30, 2014

Patrick Industries Inc. announced that they will report Q3, 2014 results at 10:00 AM, US Eastern Standard Time on Oct 30, 2014

Patrick Industries Inc., Q3 2014 Earnings Call, Oct 30, 2014

Patrick Industries Inc., Q3 2014 Earnings Call, Oct 30, 2014

Patrick Industries Inc. Announces Resignation of Terrence D. Brennan as Director, Effective September 30, 2014

On September 22, 2014, Terrence D. Brennan formally notified the Board of Directors of Patrick Industries Inc. of his intention to resign from the Board effective September 30, 2014. There were no disagreements between Mr. Brennan and the Company or any officer or director of the Company which led to Mr. Brennan's resignation.

Patrick Industries Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 29, 2014; Provides Revenue Guidance for the Second Half of 2014; Provides Financial Guidance for the Full Year 2014

Patrick Industries Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 29, 2014. For the quarter, the company reported net sales of $187,855,000 against $159,576,000 a year ago. Operating income was $15,517,000 against $12,914,000 a year ago. Income before income taxes was $15,010,000 against $12,392,000 a year ago. Net income was $9,231,000 against $7,557,000 a year ago. Basic and diluted earnings per share were $0.86 against $0.70 a year ago. Capital expenditures through the second quarter of 2014 were $2.4 million, which included costs related to the continued replacement of ERP system, equipment upgrades at facilities, and other strategic capital and maintenance expenditures. For the six months, the company reported net sales of $358,005,000 against $301,696,000 a year ago. Operating income was $27,278,000 against $23,330,000 a year ago. Income before income taxes was $26,222,000 against $22,256,000 a year ago. Net income was $16,127,000 against $13,576,000 a year ago. Diluted earnings per share were $1.50 against $1.25 a year ago. Operating cash flows were approximately $17 million. The company expects revenue growth to continue through the second half of 2014, while taking into consideration seasonal patterns and exclusive of revenue contributions of the acquisitions completed in September of 2013 and in June of 2014. For the full year 2014, the company estimates total capital expenditures to be approximately $8 million. The company’s execution goals for 2014 and beyond continued to be focused around driving organizational strategic agenda and utilizing capital allocation strategy to increase top line, both through acquisition and organically, and generating improved operating income, net income, earnings per share, and free cash flow.

 

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PATK

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Valuation PATK Industry Range
Price/Earnings 16.5x
Price/Sales 0.7x
Price/Book 4.5x
Price/Cash Flow 14.1x
TEV/Sales 0.5x
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