Company Overview of Hamilton Beach, Inc.
Hamilton Beach, Inc. designs, markets, and distributes small electric household appliances in the United States, Canada, and Mexico. It offers kitchen appliances, which include blenders, can openers, coffee/espresso makers, deep fryers, drink mixers, electric kettles, electric knives, food choppers, food processors, hand blenders, hand mixers, ice cream makers, ice shavers, iced tea makers, indoor grills, juice extractors, ovens, rice cookers, roaster ovens, skillets and griddles, slow cookers, stand mixers, toasters, and waffle bakers; garment care products, such as garment steamers, ironing tips, nonstick irons, garment drying stations, and stainless steel irons; and air care products, suc...
4421 Waterfront Drive
Glen Allen, VA 23060-3375
Founded in 1990
Key Executives for Hamilton Beach, Inc.
Senior Vice President of Global Operations
President of The Kitchen Collection Inc
Compensation as of Fiscal Year 2013.
Hamilton Beach, Inc. Key Developments
Hamilton Beach Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and Cash Flow Guidance for the Year 2013 and Earnings Guidance for the Full Year of 2014
Oct 30 13
Hamilton Beach reported unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenue of $134,099,000 against $124,820,000 a year ago. Operating profit was $11,788,000 against $8,663,000 a year ago. Income from continuing operations before income tax provision was $11,679,000 against $8,442,000 a year ago. Income from continuing operations, net of tax was $7,427,000 against $5,206,000 a year ago. Net income The company's net income increased to $7.4 million in the third quarter of 2013 from $5.2 million in the third quarter of 2012 primarily due to increased sales and a $1.6 million pre-tax reduction in environmental remediation expense, partially offset by higher selling, general and administrative expenses. Revenues increased in the third quarter of 2013 compared with the third quarter of 2012 primarily due to an increase in sales volumes of products with higher price points and new products, mainly in the U.S. consumer and Canadian retail markets and in the commercial market. The improvement in revenue was partially offset by lower sales volumes in its international consumer markets. Operating profit and net income increased in the third quarter of 2013 compared with the 2012 third quarter primarily as a result of an increase in sales of higher-margin products and a $1.6 million pre-tax reduction in environmental remediation expense, partially offset by lower prices on comparable products sold. the reduction in the environmental remediation expense is the result of a third-party's commitment to share in anticipated remediation costs for former manufacturing locations.
For the nine months, the company reported net income of $10.9 million compared to net income of $8.4 million for the same period a year ago. Revenue was $354,901,000 against $340,436,000 a year ago. Operating profit was $18,461,000 against $15,862,000 a year ago. Income from continuing operations before income tax provision was $17,201,000 against $13,665,000 a year ago. Income from continuing operations, net of tax was $10,913,000 against $8,447,000 a year ago.
Overall, the company expects fourth quarter 2013 net income to be comparable to the fourth quarter of 2012 as anticipated increases in operating profit from higher revenues are expected to be offset by planned increases in operating expenses to support hamilton beach's strategic initiatives and its promotional programs.
The company expects 2013 cash flow before financing activities to be slightly lower than 2012.
Full year 2014 net income is expected to improve slightly over 2013 as a result of increased sales volumes attributable to the continued implementation and execution of hamilton beach's strategic initiatives, offset by the costs to implement these initiatives and by the related promotional costs. Cash flow before financing activities in 2014 is expected to be moderately lower than 2013.
Hamilton Beach Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Provides Earnings and Production Guidance for the Second Half of 2013; Provides Earnings Guidance for the Full Year of 2013
Aug 7 13
Hamilton Beach announced unaudited earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported revenue of $114,651,000 against $110,676,000 a year ago. Operating profit was $4,005,000 against $5,048,000 a year ago. Income before income taxes was $3,140,000 against $3,548,000 a year ago. Net income was $1,985,000 compared with $2,214,000 for the second quarter of 2012.
For the six months, the company reported revenue of $220,802,000 against $215,616,000 a year ago. Operating profit was $6,673,000 against $7,199,000 a year ago. Income before income taxes was $5,522,000 against $5,223,000 a year ago. Net income was $3,486,000 compared with $3,241,000 for the second quarter of 2012.
The company expects to increase volumes and revenues in the second half of 2013 compared with the same period in 2012. The company expects net income in the second half of 2013 to be comparable to or up slightly from the second half of 2012 as anticipated increases in operating profit from increased revenues are forecasted to offset expected increases in operating expenses to support it's strategic initiatives and promotional programs.
The company expects cash flow before financing activities for the 2013 full year to be moderately lower than in 2012 due to increased working capital.
Hamilton Beach, Inc. Reports Earnings Results for the First Quarter of 2013; Provides Earnings Guidance for Full Fiscal Year of 2013
May 7 13
Hamilton Beach reported earnings results for the first quarter of 2013. For the quarter, the company reported net income of $1.5 million, up
from $1.0 million in the first quarter of 2012. The increase was primarily from stronger sales of higher-margin products, favorable foreign currency movements, and lower interest expense, partially offset by an increase in product costs and higher expenses. Revenues were $106.2 million, up from first quarter of 2012, $104.9 million. The increase came from higher unit sales volumes of lower-priced products, mostly in the U.S. consumer retail market. The better revenue was partially offset by lower unit sales volumes in Canadian and international consumer markets.
Hamilton Beach expects full year 2013 net income to be comparable to 2012, expected increases in profit from higher revenues will likely be largely offset by increases in operating expenses to support its strategic initiatives.
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