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As of 4:00 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

intertape polymer group inc (ITP) Snapshot

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09/16/13 - C$15.65
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01/30/14 - C$11.12
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intertape polymer group inc (ITP) Details

Intertape Polymer Group Inc. operates in the packaging industry in North America and internationally. The company manufactures and sells paper and film based tapes, including carton sealing tapes, such as hot melt, acrylic, natural rubber, and water activated tapes; and industrial and specialty tapes comprising paper, flatback, duct, double-coated, foil, electrical and electronic, and filament tapes, as well as stencil products under the Intertape, Central, Crowell, American, Anchor, ExlfilmPlus, and Exlfilm brands to industrial distributors and retailers, as well as to third parties under private brands. It also manufactures various polyethylene and specialized polyolefin films, as well as complementary packaging systems, including shrink film, stretch wrap, and air pillows under the SuperFlex, StretchFlex, ExlfilmPlus, Exlfilm, Interpack, and iCushion brands. The company offers its film products primarily to the manufacturers of packaged goods, and printing and paper products for industrial and retail applications through an existing industrial distribution base. In addition, the company provides woven coated fabrics, such as building and construction products comprising lumberwrap, membrane structure fabrics, and roof underlayment; agro-environmental products comprising geomembrane fabrics, hay wrap, and poultry fabrics; specialty fabrics; industrial packaging products; and flexible intermediate bulk containers to end-users in various industries, including lumber, construction, food, paper, and agriculture industries. Further, it offers closing systems, including automatic and semi-automatic carton sealing equipment. Intertape Polymer Group Inc. was founded in 1981 and is headquartered in Ville St. Laurent, Canada.

Founded in 1981

intertape polymer group inc (ITP) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $514.4K
Senior Vice President of Operations
Total Annual Compensation: $337.2K
Senior Vice President of Global Sourcing
Total Annual Compensation: $310.3K
Senior Vice President of Logistics & Supply C...
Total Annual Compensation: $300.0K
Senior Vice President of Sales
Total Annual Compensation: $321.0K
Compensation as of Fiscal Year 2013.

intertape polymer group inc (ITP) Key Developments

Intertape Polymer Group Inc. Appoints Frank Di Tomaso as a New Board Member

On August 5, 2014, the Board of Directors of Intertape Polymer Group Inc. appointed Mr. Frank Di Tomaso as a new board member of the company.

Intertape Polymer Group Inc. Declares Quarterly Dividend, Payable on September 30, 2014; Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Financial Guidance for the Third Quarter and Full Year of 2014

Intertape Polymer Group Inc. announced that, on August 5, 2014 the Board of Directors declared a quarterly dividend of $0.12 per common share payable on September 30, 2014 to shareholders of record at the close of business September 15, 2014. The company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced revenue of $202.9 million, an increase of 4.9% compared to $193.5 million for the same period in 2013. Adjusted EBITDA totaled $29.5 million, a $1.2 million or 4.1% increase from $28.3 million for the second quarter of 2013. The increase in adjusted EBITDA was primarily due to higher gross profit. Net earnings totaled $12.1 million or $0.19 per share fully diluted compared to $15.1 million or $0.25 per share fully diluted for the second quarter of 2013. Decrease in net earnings was primarily due to higher income tax expense partially offset by an increase in gross profit and decrease in interest expense. The higher income tax expense primarily relates to the utilization of US deferred tax assets during the second quarter of 2014, which has no effect on cash taxes paid. Adjusted net earnings totaled $14.5 million or $0.23 per share fully diluted compared to $18.3 million or $0.30 per share fully diluted for the second quarter of 2013. Cash flows from operations before changes in working capital items increased 5.0% to $27 million from $25.8 million in the second quarter of 2013. The increase compared to the second quarter of 2013 was primarily due to higher gross profit and a decrease in cash contributions to defined benefit plans. EBITDA was $27.5 million compared to $26.4 million a year ago. For the six months, the company reported net earnings of $23.7 million compared to net loss of $0.7 million a year ago. EBITDA was $53.8 million compared to $20.0 million a year ago. Adjusted EBITDA was $56.1 million compared to $52.3 million a year ago. Adjusted net earnings were $26.3 million or $0.42 per diluted share compared to $33.3 million or $0.54 per diluted share a year ago. For the third quarter of 2014, the company expects revenue growth up 2% to 4% over third quarter of 2013, gross margin of approximately 19% and adjusted EBITDA between $27 million and $29 million. For the year, the company expects cash taxes of less than $5 million and effective tax rate of approximately 40%. The company revised its capital expenditures guidance to $39 million to $44 million, up from $31 million to $435 million. Cash income taxes paid in 2014 are still expected to be less than $5 million.

Intertape Polymer Group Introduces New ExlfilmPlus® GPL Shrink Film

Intertape Polymer Group Inc. introduced its newest high performance cross-linked polyolefin shrink film called ExlfilmPlus® GPL (Global Performance Lite). IPG began producing polyolefin shrink film in 1993. Over the past 20 years, the Company has been shrink wrapping products throughout the world with films produced at its manufacturing sites in the US and Portugal. IPG has expanded Exlfilm polyolefin shrink film product line to include ExlfilmPlus GPL - a thin gauge, high yield film. GPL is a cost saving alternative to standard, heavier gauge films without sacrificing performance and protection. The film exhibits exceptional machinability and high speed processing capabilities, while providing customers a superior looking retail package. ExlfilmPlus GPL is ideal for printers, bakeries, food processors, cosmetic manufacturers and software producers, or for any customer looking to protect or unitize products in a crystal clear, thin gauge film. The film is available in center-fold or single-wound put-ups, pre-perforated, and extended length rolls which offer additional savings.


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