Dividend Authorizations, Supply Agreement, and Financial Results - Analyst Notes on Danaher, Polypore, Generac, Briggs & Stratton and Adept
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NEW YORK, June 16, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Danaher Corp. (NYSE: DHR), Polypore International Inc. (NYSE: PPO), Generac Holdings Inc. (NYSE: GNRC), Briggs & Stratton Corp. (NYSE: BGG) and Adept Technology Inc. (NYSE: ADEP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2415-100free.
Danaher Corp. Analyst Notes
On May 6, 2014, Danaher Corp. (Danaher) announced that its Board of Directors has approved a regular, quarterly dividend in the amount of $0.10 per share. Danaher informed that the dividend is payable on July 25, 2014 to shareholders of record as on June 27, 2014. The full analyst notes on Danaher are available to download free of charge at:
http://www.analystsreview.com/2415-DHR-16Jun2014.pdf
Polypore International Inc. Analyst Notes
On May 8, 2014, Polypore International, Inc. (Polypore) announced that one of its subsidiaries, Celgard has entered into a long-term supply agreement with Panasonic Automotive and Industrial Systems Division (Panasonic), under which Panasonic will purchase Celgard® brand separators to be used in large-format electric drive vehicle lithium-ion batteries. "After working closely together with Panasonic for many years, we are pleased to formalize our partnership with them. This agreement highlights the value of our capacity investments and our proven industry-leading products and technology, while providing certainty of supply to meet our customers' needs in this growing application space," said Robert B. Toth, President and CEO of Polypore. "Panasonic is a leader in battery technology and is well positioned to grow as new vehicle models continue to be introduced to the market." The long-term agreement includes guaranteed purchase and supply volume requirements and a five-year term. The full analyst notes on Polypore are available to download free of charge at:
http://www.analystsreview.com/2415-PPO-16Jun2014.pdf
Generac Holdings Inc. Analyst Notes
On May 1, 2014, Generac Holdings Inc. (Generac) reported its Q1 2014 financial results with net sales of $342.0 million compared to $399.6 million in Q1 2013. Net income was $34.7 million, or $0.50 per diluted share, compared to $50.7 million or $0.73 per diluted share in Q1 2013. Adjusted EBITDA totaled $77.5 million in Q1 2014, against $108.8 million in Q1 2013. "We are pleased with our overall financial results for the quarter as they were in line with our expectations," said Aaron Jagdfeld, President and CEO of Generac. "Through a combination of our internal growth initiatives and M&A activity, we remain focused on driving a new and higher baseline of demand for our products, while also becoming a more diversified company with improved global scale." For the full year 2014, the Company anticipates net sales growth in the mid-single digit range as compared to the prior year. The full analyst notes on Generac are available to download free of charge at:
http://www.analystsreview.com/2415-GNRC-16Jun2014.pdf
Briggs & Stratton Corp. Analyst Notes
On April 24, 2014, Briggs & Stratton Corp. (Briggs & Stratton) reported its Q3 FY 2014 financial results (period ended March 30, 2014). Consolidated net sales for the quarter totaled $628.4 million, down 1.4% YoY. Consolidated adjusted net income was $38.7 million compared to $43.9 million in Q3 FY 2013. "During our third quarter, we saw increases in shipments of engines for lawn and garden equipment in the U.S. despite below average temperatures and a slow start to the spring retail season this year," commented Todd J. Teske, Chairman, President and CEO of Briggs & Stratton. According to the Company, due to the slow start to the spring lawn and garden selling season in North America following an unusually cold winter season, it has revised its FY 2014 net income projections to be in the range of $43 million to $50 million or $0.88 to $1.04 per diluted share. The full analyst notes on Briggs & Stratton are available to download free of charge at:
http://www.analystsreview.com/2415-BGG-16Jun2014.pdf
Adept Technology Inc. Analyst Notes
On May 8, 2014, Adept Technology Inc. (Adept) reported its Q3 FY 2014 financial results (period ended March 29, 2014.) The Company reported revenues of $15.1 million, up 38.2% YoY during the quarter. GAAP net loss attributable to common shareholders of $12,000 during the quarter, compared to a net loss of $1.9 million in Q3 FY 2013. Adjusted EBITDA totaled $1.2 million, compared to adjusted EBITDA loss of $1.1 million in Q3 FY 2013. Rob Cain, President and CEO of Adept, commented, "While we are pleased with our third quarter performance and the progress we are making in stabilizing and growing the business, we have much work to do to meet our long term objectives. We continue to invest in the markets and verticals where we see significant opportunities to grow the top and bottom line in a sustainable manner." The full analyst notes on Adept are available to download free of charge at:
http://www.analystsreview.com/2415-ADEP-16Jun2014.pdf
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