Luxfer Holdings PLC
) reported adjusted earnings per American Depositary Shares (ADS)
of 40 cents in fourth-quarter 2013, down from 45 cents earned in
the year-ago quarter. However, the bottom-line result surpassed
the Zacks Consensus Estimate of 37 cents.
In 2013, adjusted earnings per ADS were $1.42, down 30.7% year
over year but above the Zacks Consensus Estimate of $1.40.
Luxfer Group generated revenues of $116.0 million in the
fourth quarter, down 10.8% year over year.
The Gas Cylinders Division generated roughly $64.1 million in
revenues, down 9.3% year over year due to lower sales of
industrial gas cylinders and composite life-support cylinders in
Europe and the United States. The Elektron Division's revenues
amounted to $51.9 million, down 12.5% year over year due to
persistent weakness in the European automotive market as well as
the U.S. defense market.
In 2013, revenues were $481.3 million, down from $511.6
million in 2012.
Cost of sales in the fourth quarter decreased 13.0% year over
year and represented 74.1% of total revenue, down from 76.1%
reported in the year-ago quarter. Distribution and administrative
costs, as a percentage of total revenue, came in at 1.6% and
Adjusted earnings before interest, tax, depreciation and
amortization were $19.8 million versus $20.0 million in the
Exiting fourth-quarter 2013, Luxfer's cash and short-term
deposits balance was $28.4 million, down from $38.1 million in
the previous quarter. Bank and other loans at the quarter-end
were $63.8 million, flat versus the prior quarter.
Luxfer generated roughly $7.3 million cash from operating
activities in the fourth quarter, which was below $17.3 million
generated in the year-earlier quarter. Capital expenditure
increased 8.6% year over year to $10.1 million.
In 2013, the company paid roughly $10.8 million dividends, an
increase from $5.8 million paid in 2012.
In conjunction with the earnings release, Luxfer also
announced that its German subsidiary, Luxfer Gas Cylinders, has
won a contract to supply bulk natural gas transportation modules
to Sub 161, a Queensland-based company.
Luxfer Holdings currently has a market capitalization of $529
million and operates in the diversified machinery industry. Three
stocks in the machinery industry that posted better-than-expected
results in fourth-quarter 2013 include
CommScope Holding Company, Inc.
Lennox International, Inc.
COMMSCOPE HLDG (COMM): Free Stock Analysis
CRANE CO (CR): Free Stock Analysis Report
LENNOX INTL INC (LII): Free Stock Analysis
LUXFER HOLDINGS (LXFR): Free Stock Analysis
To read this article on Zacks.com click here.