Luxfer Group Lags Earnings Est. - Analyst Blog


Luxfer Group Lags Earnings Est.

Luxfer Group ( LXFR ) reported its first quarter 2013 financial results on May 7, 2013. Adjusted net income in the quarter plummeted 15.3% year over year and came in at $9.4 million. Earnings per ADS in the quarter were 34 cents, missing the Zacks Consensus Estimate of 43 cents.


Revenues for Luxfer Group were down 13.4% to $122.4 million. Results were negatively impacted by negative foreign currency translation to the tune of $1.5 million.

Gas Cylinders Division generated roughly $68.4 million in revenues, up 11.9% year over year while the Elektron Division's revenues amounted to $54.0 million, down 32.8% year over year.


Cost of sales in the first quarter went down 12.6% year over year and represented 76.9% of total revenue; up slightly from 76.2% in the year-ago quarter. Distribution and administrative costs, as a percentage of total revenue, stood at 1.3% and 9.6%, respectively. Operating margin in the quarter was 11.8%, down 110 basis points year over year.

Balance Sheet

Exiting the first quarter 2013, cash and short-term deposits balance of Luxfer Group stood at $37.0 million, down 8.0% from $40.2 million in the previous quarter. Bank and other loans at the end of the quarter stood at $63.5 million.

Cash Flow

Net cash flow from operating activities in the quarter was $9.6 million, flat year over year while capital expenditure was at $3.9 million versus $3.1 million in the year-ago quarter.


Management at Luxfer Group anticipates trading profit to be $1.5-$2.5 million, higher sequentially in the second quarter of 2013 while roughly $2.0-$5.0 million higher year over year in 2013.

Luxfer Group currently has a market capitalization of $506 million and carries a Zacks Rank #2 (Buy). Other stocks to watch out for are Graco Inc. ( GGG ), Middleby Corp. ( MIDD ) and Tri-Tech Holding, Inc. ( TRIT ), each with a Zacks Rank #1 (Strong Buy).

GRACO INC (GGG): Free Stock Analysis Report

LUXFER HOLDINGS (LXFR): Free Stock Analysis Report

MIDDLEBY CORP (MIDD): Free Stock Analysis Report

TRI-TECH HOLDNG (TRIT): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Earnings , Stocks

Referenced Stocks: GGG , LXFR , MIDD , TRIT

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