K-Tron: Record figures for its third quarter

Materials handling specialist, K-Tron has announced record figures for its third quarter (Q3) and nine month results.
With manufacturing facilities in the US, Switzerland and the UK, the company achieved a 13.3% increase in its Q3 revenue –$34.89m over $30.80 for 2005.
For the first nine months of 2006, K-Tron reported a net income of $8.411m, yielding a diluted earning per share of $3.01, against last year’s $5.549m. Revenues were also up – $103.76m compared to $89.58.
“K-Tron posted the best third quarter and nine month results in its history,” said company chairman and ceo Edward B. Cloues II, “with revenues, net income and earnings per share all setting records for both periods.”
Cloues singled out the contribution of Gundlach, a coal-crushing equipment manufacturer purchased by K-Tron in March 2006. “Overall order levels have been very good this year, with especially strong bookings in the overseas part of our process business line,” he said.
Cloues also pointed out that the acquisition of Premier Pneumatics (See PRW.com 11 October 2006) did not feature in the Q3 results since the business was bought after the end of the third period.
Commenting on the company’s debt and cash position, Cloues said there had been a decline in total debt ($14.61m down from $15.49m) while cash grew by $4.25m to $13.58m. Net debt (debt minus cash) fell during the third quarter to $1.03m.

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