Company Overview of Victor Technologies Group Inc
Victor Technologies Group, Inc. designs, manufactures, and supplies cutting, welding, and gas control equipment for use in various fabrication, construction, and manufacturing applications worldwide. The company offers gas cutting equipment, such as cutting torches, tips, and nozzles, as well as gas control equipment, including regulators, manifolds, flow meters, and flashback arrestors under the Victor, Cigweld, and Victor Turbo Torch names. It also provides plasma cutting systems comprising power supplies, torches, and related consumable parts for use in the fabrication, construction, and repair of steel and nonferrous metal products under the Victor Thermal Dynamics name; and carbon arc g...
16052 Swingley Ridge Road
St. Louis, MO 63017
Founded in 1987
Key Executives for Victor Technologies Group Inc
Chief Financial Officer and Executive Vice President
Executive Vice President of Global Operations
Chief Marketing Officer and Executive Vice President
Compensation as of Fiscal Year 2014.
Victor Technologies Group Inc Key Developments
Victor Technologies Launches Tweco Fabricator 141i 3-in-1 Welder Provides Best Value for Home Hobby, DIY for Light Duty Welding Projects
Dec 11 13
Victor Technologies launched the Tweco Fabricator 141i 3-in-1 welder, a multi-process welder that runs off 115V household power. Built to meet professional standards, the MIG, Stick and TIG performance of the Tweco Fabricator 141i is perfect for DIY and home hobby use, as well as other light duty welding projects in motorsports, auto repair, farm/ranch, metal art and maintenance applications. It offers 10 to 140 amps of power for MIG & Lift TIG welding and 90 amps for Stick welding. Simple operation, advanced performance: push button controls, LED displays and a quick start guide enables first time welders to set up the unit and start welding in a very short time. An easy to use set-up chart inside the side panel guides users with helpful diagrams and welding parameter recommendations. The Tweco Fabricator 141i uses advanced technology that provides many exceptional benefits compared to older conventional MIG-only welders: multi-process welding output, allowing users to select among MIG, Stick, or TIG, based on the best process for a particular project or application. Easy-to-use features and excellent arc performance helps beginners learn to weld like a pro. Highly portable unit goes anywhere; it weighs just 32.2 lbs. Higher duty cycle, allows users to weld longer on thicker material. The Tweco fabricator 141i is a fully integrated system; it incorporates a built-in gas solenoid valve and wire feed system for MIG welding, and accepts 4” or 8” spools of wire. With a list price of $699 for the complete system solution and $849 for a complete system solution with a cart, the Tweco Fabricator 141i is priced about the same as MIG-only welders. The Tweco Fabricator 141i is the first welding power source from Victor Technologies to carry the Tweco brand name with the black and yellow Tweco colors.
Victor Technologies Group Inc Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Financial Guidance for the Year 2013
Nov 12 13
Victor Technologies Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company's net sales were $119.4 million, a decline of $1.7 million, or 1.4%, as compared to the third quarter of 2012. The decrease was primarily attributable to foreign currency translation changes of $2.9 million which were partially offset by a $1.5 million increase in net sales primarily associated with price increases. Net income was $10.3 million, compared to $5.3 million in the third quarter of 2012. The higher net income for the third quarter of 2013 reflects $2.1 million of higher gross margin and a $2.9 million favorable variance in income taxes. Adjusted EBITDA was $24.5 million, or 20.5% of net sales, in the third quarter of 2013, an increase from $23.1 million, or 19.1% of net sales, in the third quarter of 2012. Income before income tax provision was $8.829 million against $6.760 million a year ago. EBITDA was $22.498 million compared to $20.346 million reported a year ago.
For the nine months, the company's net sales were $370.0 million, a decrease of 2.7% as compared to the first nine months of 2012, primarily due to a $11.8 million decrease in sales volumes and an additional $3.9 million decrease attributable to foreign currency translation. This decrease was partially offset by a $5.5 million increase in net sales associated with price increases. Net income was $20.8 million compared to $16.5 million in the first nine months of 2012. The increase in net income for the first nine months of 2013 reflects a $5.4 million increase in gross margin, despite a $10.2 million decrease in net sales, as well as a $4.6 million reduction in the income tax provision offset by $3.9 million of additional restructuring costs. Adjusted EBITDA was $73.5 million, or 19.8% of net sales, in the first nine months of 2013, as compared to $69.1 million, or 18.2% of net sales, in the first nine months of 2012. The higher amount in 2013 is due to sales price increases as well as the impact of improved operating efficiencies and restructuring initiatives that have lowered its costs compared to prior year. Cash flows from operating activities provided $37.0 million of cash in the first nine months of 2013, as compared to $28.3 million of cash provided in the comparable period of 2012. This increase in cash flow was driven largely by higher net income and lower uses of cash for variable compensation plans. Capital spending, primarily for manufacturing equipment purchases, totaled $6.3 million and $8.3 million in the first nine months of 2013 and 2012, respectively. Income before income tax provision was $22.380 million against $22.761 million a year ago. EBITDA was $63.719 million compared to $61.818 million reported a year ago.
The company estimated reduction of annual effective tax rate to 15.5% in 2013 compared to 27.2% in the prior year. The decline in the annual effective tax rate is primarily due to 2013 foreign tax credits and the deferred tax effect of a tax basis adjustment related to the expected sale of property in Australia. The company expects capital spending for the full year 2013 to approximate $10 million to $11 million.
Victor Technologies Group Inc, Q3 2013 Earnings Call, Nov 13, 2013
Nov 6 13
Victor Technologies Group Inc, Q3 2013 Earnings Call, Nov 13, 2013
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