Last $23.22 USD
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As of 8:10 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

high liner foods inc (HLNFF) Snapshot

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07/14/14 - $23.35
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high liner foods inc (HLNFF) Details

High Liner Foods Incorporated processes and markets frozen seafood in North America. The company offers a range of frozen seafood products, including raw fillets and shellfish, cooked shellfish, and value-added products, such as sauced, glazed, and breaded and battered seafood, as well as seafood entrees. It produces breaded cheese sticks and breaded chicken. The company offers its products under the High Liner, FPI, Mirabel, Sea Cuisine, Fisher Boy, Viking, Icelandic Seafood, Samband of Iceland, and American Pride Seafoods brands. It is also involved in the scallop processing business. High Liner Foods Incorporated sells its products directly, as well as through distributors to retail and club stores, hotels, restaurants, and health care and educational organizations. The company was founded in 1899 and is headquartered in Lunenburg, Canada.

1,540 Employees
Last Reported Date: 02/19/14
Founded in 1899

high liner foods inc (HLNFF) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $620.8K
President and Chief Operating Officer
Total Annual Compensation: $407.9K
President of Canadian Operations and Chief Op...
Total Annual Compensation: $336.9K
Executive Vice President of Global Procuremen...
Total Annual Compensation: $298.1K
Compensation as of Fiscal Year 2013.

high liner foods inc (HLNFF) Key Developments

High Liner Foods Inc. Approves Amendments to the Articles of Association

High Liner Foods Inc. announced that at the annual general meeting held on May 8, 2014, approved the amendments to the articles of association of the company.

High Liner Foods Inc. Increases Quarterly Dividend, Payable on June 16, 2014; Reports Unaudited Consolidated Earnings Results for the Thirteen Weeks Ended March 29, 2014

The Board of Directors of High Liner Foods Inc. approved a quarterly dividend of CAD 0.21 per share on the company's common shares payable on June 16, 2014 to holders of record on June 2, 2014. The quarterly dividend of CAD 0.21 per share represents an 11% increase from the CAD 0.19 per share quarterly dividend paid on March 17, 2014. The company reported unaudited consolidated earnings results for the thirteen weeks ended March 29, 2014. For the period, the company reported that sales increased by 10.0% to CAD 302.6 million from CAD 275.2 million a year ago. Net income increased by CAD 6.6 million to CAD 11.9 million or diluted earnings per share of CAD 0.76 compared with CAD 5.3 million or diluted EPS of CAD 0.34 a year ago. Adjusted net income increased by CAD 4.0 million to CAD 13.8 million or CAD 0.88 per diluted share from CAD 9.8 million or CAD 0.63 per diluted share a year ago. Adjusted EBITDA was CAD 27.2 million, compared with CAD 21.3 million a year ago. The improvements achieved in adjusted EBITDA in 2014 reflect strong operational performance during busiest period and that challenges encountered by U.S. operations in 2013, following the closure of plant in Danvers, MA, early last year, have been largely resolved. Net cash flows used in operating activities was CAD 0.9 million, compared to net cash flows provided by operating activities of CAD 10.8 million in the same period last year, due to increased net non-cash working capital requirements in 2014, partially offset by improved operating results. Capital expenditures increased by CAD 8.5 million in the first quarter of 2014 reflecting the purchase of a previously-leased cold storage distribution facility in Peabody, MA, in March 2014. The CAD 6.6 million increase in reported net income is due to improved operating results, a lower stock compensation expense, lower finance cost and lower effective income tax rate in 2014.

High Liner Foods Incorporated Announces the Amendments to its Senior Secured Term Loan and Asset-Based Revolving Facility

High Liner Foods Incorporated announced that it concluded amendments to its senior secured term loan (the Term Loan B) and asset-based revolving facility (the ABL Facility). The principal amendments to the Term Loan B are as follows: Increased the principal amount from $250 million to $300 million; Extended the term on the loan from December 2017 to April 2021; Reduced applicable interest rates for loans under the facility from LIBOR plus 3.50% (with a 1.25% LIBOR floor) to LIBOR plus 3.25% (with a 1.00% LIBOR floor); Leverage ratio financial covenant was removed; and Increased capacity and flexibility for acquisitions, investments, distributions, capital expenditures and operational matters. In addition, the ABL Facility was amended concurrently with the Term Loan B amendments. The principal ABL Facility amendments include lower interest costs, extending the term from December 2016 to April 2019, and increased capacity and flexibility for acquisitions, investments, distributions, capital expenditures and operational matters. The company plans to use the proceeds from the increase in the Term Loan B to pay down a portion of the ABL Facility.


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Valuation HLNFF Industry Range
Price/Earnings 19.1x
Price/Sales 0.7x
Price/Book 3.7x
Price/Cash Flow 18.8x
TEV/Sales 0.4x

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