Businessweek

Standex International Corp. reported consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported net sales of $165,970 compared to $150,666 a year ago. Income from operations was $11,722 compared to $15,565 a year ago. Income from continuing operations before income taxes was $10,870 compared to $14,926 a year ago. Net income from continuing operations was $9,671 or $0.76 per diluted share compared to $11,525 or $0.90 per diluted share a year ago. Net income was $9,561 or $0.90 per diluted share compared to $9,120 or $0.90 per diluted share a year ago. Net income from continuing operations, as adjusted was $9,441 or $0.74 per diluted share compared to $8,059 or $0.63 per diluted share a year ago. EBITDA was $15,374 compared to $18,987 a year ago. Adjusted EBITDA was $16,980 compared to $14,440 a year ago. For the nine months, the company reported net sales of $517,985 compared to $464,840 a year ago. Income from operations was $45,616 compared to $46,055 a year ago. Income from continuing operations before income taxes was $43,668 or $2.55 per diluted share compared to $44,801 or $2.62 per diluted share a year ago. Net income from continuing operations was $32,622 or $2.55 per diluted share compared to $33,421 or $2.62 per diluted share a year ago. Net cash provided by operating activities was $16,434 compared to $20,619 a year ago. Expenditures for property, plant and equipment was $12,389 compared to $8,213 a year ago. Net income from continuing operations, as adjusted was $34,350 or $2.68 per diluted share compared to $30,226 or $2.36 per diluted share a year ago. EBITDA was $57,163 compared to $56,493 a year ago. Adjusted EBITDA was $61,538 compared to $53,169 a year ago. The company's net debt was of $40.7 million compares with net debt of $28.9 million at December 31, 2012. The increase in debt was primarily driven by lower free cash flow caused by increase in inventory and the payment of annual year-end rebates in Food Service. Non-GAAP operating income excluding special items grew 17% to $50 million. For fiscal 2013, the company expects capital spend will be in the range of $14 million to $15 million. The company expects it to return to normal about 28% to 30% tax rate going forward for fourth quarter of fiscal 2013 and in fiscal 2014.

Standex International Corp., Q3 2013 Earnings Call, Apr 30, 2013

Standex International Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share, which is payable May 25, 2013 to shareholders of record May 6, 2013.

Standex International Corp. announced that they will report Q3, 2013 results at 9:00 AM, Eastern Standard Time on Apr 30, 2013

On March 20, 2013, the Board of Directors of Standex International Corporation appointed Thomas J. Hansen as a director, effective immediately, to serve until the 2013 Annual Meeting of Shareholders scheduled to be held on October 30, 2013. Mr. Hansen was not appointed to any committees of the Board of Directors in connection with his appointment as a director. Until his retirement in 2012, Mr. Hansen was the Vice Chairman of ITW Inc. since 2006 and was responsible for ITW’s Worldwide Automotive Components and Fasteners and its Industrial Metal and Plastic Business since the 1990s.