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LUVU..2017 Third Quarter Results announced,business update conference call scheduled...
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
Net sales for the nine months ended March 31, 2017 increased to a record $13,265,000
Net cash provided by operating activities was approximately $292,000 in the nine months ended March 31, 2017
We realized a net profit of approximately $334,000 for the nine months ended March 31, 2017 and incurred a net loss of approximately $312,000 for the year ended June 30, 2016.
As of May 12, 2017 there were 73,452,596 shares of the registrant’s common stock outstanding.
Full SEC Filing
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
April 26,2017
$LUVU Brands...2017 Current Investors Handout....
https://www.sec.gov/Archives/edgar/data/1374567/000101738617000066/exhibit_99-1.pdf
LUVU Brands
https://www.otcmarkets.com/stock/LUVU/profile
WEBSITES
http://www.luvubrands.com/internet-and-retail-distribution/
https://twitter.com/luvu_brands
https://www.jaxxbeanbags.com
https://twitter.com/jaxxbeanbags
https://www.avanacomfort.com
https://twitter.com/AvanaComfort
Sites below my not be suitable for work or children.
https://www.liberator.com
https://twitter.com/liberator
STCC 0.05 posted 88.9k profit on 1.78m revenue....
The cash flow of $95,675 for the quarter ended March 31, 2017.
Shares Outstanding unch @40,715,540
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12070116
1c
LUVU..2017 Third Quarter Results announced,business update conference call scheduled...
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
Net sales for the nine months ended March 31, 2017 increased to a record $13,265,000
Net cash provided by operating activities was approximately $292,000 in the nine months ended March 31, 2017
We realized a net profit of approximately $334,000 for the nine months ended March 31, 2017 and incurred a net loss of approximately $312,000 for the year ended June 30, 2016.
As of May 12, 2017 there were 73,452,596 shares of the registrant’s common stock outstanding.
Full SEC Filing
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
April 26,2017
$LUVU Brands...2017 Current Investors Handout....
https://www.sec.gov/Archives/edgar/data/1374567/000101738617000066/exhibit_99-1.pdf
LUVU Brands
https://www.otcmarkets.com/stock/LUVU/profile
WEBSITES
http://www.luvubrands.com/internet-and-retail-distribution/
https://twitter.com/luvu_brands
https://www.jaxxbeanbags.com
https://twitter.com/jaxxbeanbags
https://www.avanacomfort.com
https://twitter.com/AvanaComfort
Sites below my not be suitable for work or children.
https://www.liberator.com
https://twitter.com/liberator
STCC 0.05 posted 88.9k profit on 1.78m revenue, The cash flow of $95,675 for the quarter ended March 31, 2017.
Shares Outstanding unch @40,715,540
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12070116
I got one more $GRWG post earning today. This is the only stock I have targeting the #MJ sector.
GRWG Growgeneration current pps $1.84,
As of May 15, 2017, there were 13,486,406 shares of the registrant’s common stock issued and outstanding.
Revenues
Net revenue for the three months ended March 31, 2017 increased $1,042,326, or 68%, to $2,583,925, as compared to $1,541,599 for the three months ended March 31, 2016. The increase in revenues was not only due to an increase in same store sales, as noted below, but also due to the addition of four additional stores that were not open for any part of the three months ended March 31, 2016. The additional new stores sales in the three months ended March 31, 2017 was $1,053,052. Sales from one Colorado store that was closed on March 18, 2017 and consolidated with a nearby store was $50,625 for the three months ended March 31, 2017.
For the three months ended March 31, 2017, the Company had 6 stores opened for over 12 months. These same stores generated $1,479,986 for the three months ended March 31, 2017, compared to $1,258,699 for the same period ended March 31, 2016, an increase of 18%.
Net Income (Loss)
Net loss for the three months ended March 31, 2017 increased $204,465 to $283,309, as compared to $78,844 for the three months ended March 31, 2016. The increase in the net loss was primarily due to the opening of our Las Vegas and Denver South operations, acquisition costs related to the Sonoma Hydro purchase, professional fees related to fund raising activities and our year end audit expense, as well as a decrease in the gross profit percentage from 32% for the three months ended March 31, 2016 compared to 26% for the three months ended March 31, 2017. Although gross profit increase $189,161 in 2017 the increase was offset by an increase in operating expenses of $393,028.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12070427
2016 Q4 Annual report
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154935&b=y
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11968223
http://www.growgeneration.com
STCC yes still a good Q. I want be posting about he's pliminany result in the future.
STCC .05 posted 88.9k profit on 1.78m revenue, The cash flow used in operating activities increased from net cash used of $180,319 for the quarter ended March 31, 2016 to net cash provided of $95,675 for the quarter ended March 31, 2017. This increase of $275,994 is primarily attributed to sale of existing inventory.
Shares Outstanding unch @40,715,540
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12070116
LUVU..075..yes seasonally the weakest Q and yes better than decent as I had'nt dug into it yet, I guess I was being conservative on a quick view.
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
IVFH
Quote:
In 2017, we continued to price our products in order to gain market share and increase the number of our end users. We were successful in both increasing sales and increasing market share.
2017 Plans
During 2017, in addition to our efforts to increase sales in our existing foodservice operations we plan to attempt to expand our business by expanding our focus to additional specialty foods markets in both the consumer and foodservice sector, exploring potential acquisition and partnership opportunities and continuing to extend our focus in the specialty food market through the growth of the Company’s existing sales channels and through a variety of additional sales channel relationships which are currently being explored. In addition, we are currently exploring the introduction of a variety of new product categories and new product lines, including private label products and proprietary branded products to leverage our existing foodservice and consumer customer base.
No assurances can be given that any of these plans will come to fruition or that if implemented that they will necessarily yield positive results.
From MD&A page 22,23
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12069044#INNOVATIVEFOOD10Q033117_HTM_ITEM2
IVFH
$IVFH quarterly period ended March 31, 2017..https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12069044
2017 Third Quarter Results announced,business update conference call
scheduled...
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
eod
0.0750 +.015 (+25.00%) Volume 64,000 Volume Average(30d) 15,345
$LUVU Third Quarter PR and,..a business update conference call for investors tomorrow. #microcap
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
Q3 Filing
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
looks to be a decent Q3 considering planned phase-out of
product distribution in Tenga Japan
From Jan 20, 2017
As part of this plan, and in an effort to reduce staff, shipping expense, inventory, and rationalize our SKU count, Mr. Friedman added, "By the end of January, 2017 we will phase-out and no longer distribute products from Tenga Japan, including their male pleasure products and personal massagers. For the three months ended December 31, 2016, sales of Tenga products resulted in $838,000 of revenues, a gross margin of $153,000 with an estimated net contribution of $86,000, after expenses. The termination of the Tenga relationship enables us to reallocate warehouse space, sales personnel and employees to focus on expanding the Liberator, Jaxx and Avana brands, which are sold at significantly higher gross margins than Tenga products."
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Preliminary-Q2-Fiscal-2017-Results?id=149095&b=y
Luvu Brands, Inc.
https://www.otcmarkets.com/stock/LUVU/profile
$LUVU Third Quarter PR and,..
$LUVU Brands .059c Announces Fiscal 2017 Third Quarter Results
Gross profit increased 30% to $1.3 million; net income of $111,000 in 2017 versus net loss of $159,000 in 2016
ATLANTA, GA--(Marketwired - May 15, 2017) - Luvu Brands, Inc. (OTCQB: LUVU), a manufacturer and marketer of premium consumer brands in the categories of intimacy enhancement, top-of-bed relaxation and fashion beanbags, loungers and sofas, today reported financial results for the three and nine months ended March 31, 2017.
Operating highlights for the quarter ended March 31, 2017:
Net sales decreased 6% to $4.0 million for the third quarter of fiscal 2017, as compared to $4.3 million for the comparable prior-year period.
Gross margin increased to 33.5% for the three months ended March 31, 2017, significantly higher than the 24.1% gross margin reported for the three months ended March 31, 2016.
Total gross profit increased 30% to $1.3 million, as compared to $1.0 million for the comparable prior-year period.
Net income increased to $111,000 during the current year third quarter compared to a net loss of ($159,000) in the prior-year third quarter.
EBITDA, as adjusted, increased to $302,000 in the third quarter, as compared to $22,000 in the third quarter of fiscal 2016.
Operating highlights for the nine months ended March 31, 2017:
Net sales increased 2.8% to a record $13.3 million for the nine months ended March 31, 2017, as compared to $12.9 million for the comparable prior-year period.
Gross margin increased to 29.1% for the nine months ended March 31, 2017, an improvement from the 25.4% gross margin for the nine months ended March 31, 2016.
Total gross profit increased 18% to $3.9 million, as compared to $3.3 million for the comparable prior-year period.
Net income increased to $334,000 during the nine months ended March 31, 2017, as compared to a net loss of ($157,000) for the comparable prior-year period.
EBITDA, as adjusted, increased to $914,000 for the first nine months of fiscal 2017, as compared to $383,000 in the comparable period of fiscal 2016.
Louis Friedman, Chairman and Chief Executive Officer, commented, "We are pleased with the improved operating performance of the Company, despite the decrease in sales during the quarter. As we previously announced, we are focusing more on sales of our manufactured products and less on lower margin distributed products. As a result, our gross profit margin during the three months ended March, 31, 2017 increased to 33.5% from 24.1% in the same period last year. The production improvements that we made during calendar year 2016 and earlier in the third quarter are also yielding positive results."
Mr. Friedman added, "During the third quarter, net sales of our Jaxx and Avana products (combined) increased by 81%. Unit shipments of Avana products increased 83% during the third quarter to approximately 4,500 units. Unit shipments of Jaxx products increased approximately 40% during the third quarter over last year third quarter. We expect to see continued strong growth for both of these brands during the remainder of calendar 2017."
Luvu Brand's executive management will host a business update conference call for investors, analysts and other interested parties on Tuesday, May 16, 2017 at 12:00 p.m. Eastern Daylight Time. To listen to the call, please dial 412-902-6510 and ask to be joined into the Luvu Brands, Inc. call. The replay of the call will remain available on the Company's investor relations website, www.luvubrands.com, for approximately 60 days.
More...https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
$LUVU looks to be a decent Q3 considering planned phase-out of
product distribution in Tenga Japan
Q3
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
From Jan 20, 2017
As part of this plan, and in an effort to reduce staff, shipping expense, inventory, and rationalize our SKU count, Mr. Friedman added, "By the end of January, 2017 we will phase-out and no longer distribute products from Tenga Japan, including their male pleasure products and personal massagers. For the three months ended December 31, 2016, sales of Tenga products resulted in $838,000 of revenues, a gross margin of $153,000 with an estimated net contribution of $86,000, after expenses. The termination of the Tenga relationship enables us to reallocate warehouse space, sales personnel and employees to focus on expanding the Liberator, Jaxx and Avana brands, which are sold at significantly higher gross margins than Tenga products."
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Preliminary-Q2-Fiscal-2017-Results?id=149095&b=y
Luvu Brands, Inc.
https://www.otcmarkets.com/stock/LUVU/profile
$LUVU looks to be a decent Q3 considering planned phase-out of
product distribution in Tenga Japan
Q3
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
From Jan 20, 2017
As part of this plan, and in an effort to reduce staff, shipping expense, inventory, and rationalize our SKU count, Mr. Friedman added, "By the end of January, 2017 we will phase-out and no longer distribute products from Tenga Japan, including their male pleasure products and personal massagers. For the three months ended December 31, 2016, sales of Tenga products resulted in $838,000 of revenues, a gross margin of $153,000 with an estimated net contribution of $86,000, after expenses. The termination of the Tenga relationship enables us to reallocate warehouse space, sales personnel and employees to focus on expanding the Liberator, Jaxx and Avana brands, which are sold at significantly higher gross margins than Tenga products."
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Preliminary-Q2-Fiscal-2017-Results?id=149095&b=y
Luvu Brands, Inc.
https://www.otcmarkets.com/stock/LUVU/profile
$AAPL $GLW Apple's big Corning investment hints at wireless charging and AR plans
Apple could be counting on Corning to build glass or ceramic materials to support wireless charging in the next iPhones, says an Oppenheimer analyst.
Corning might also build lightweight glass necessary for Apple's rumored augmented reality glasses....
http://www.cnbc.com/2017/05/12/apple-corning-investment-wireless-charging-augmented-reality.html
Apple awards Corning first Advanced Manufacturing Fund investment
$200M Investment Supports Revolutionary Glass Production Methods
https://nr.apple.com/dE4i2C1A1T
Corning Incorporated (USA)
https://www.corning.com/worldwide/en.html
$AAPL $GLW Apple's big Corning investment hints at wireless charging and AR plans
Apple could be counting on Corning to build glass or ceramic materials to support wireless charging in the next iPhones, says an Oppenheimer analyst.
Corning might also build lightweight glass necessary for Apple's rumored augmented reality glasses....
http://www.cnbc.com/2017/05/12/apple-corning-investment-wireless-charging-augmented-reality.html
Apple awards Corning first Advanced Manufacturing Fund investment
$200M Investment Supports Revolutionary Glass Production Methods
https://nr.apple.com/dE4i2C1A1T
Corning Incorporated (USA)
https://www.corning.com/worldwide/en.html
VEII..looks good first glance. Are you in $STCC...
Looking further VEII thanks.
STCC
I don't see news to cause this decline today, Q1 due anytime.
$STCC 0.035 Sterling Consolidated Corp..If the prelimnary Q1 numbers hold up announced in the interview the earnings report should be nice. Earnings report due by 5/16/17
$STCC April 24, 2017 Interview Chairman Angelo DeRosa
Prelimnary Q1 numbers
1.87m net sales in Q1
Near 250k net profit.
If my memory serve's me right Angelo also speak of future acquisition
intent..here the link to the interview
https://upticknewswire.com/featured-interview-angelo-derosa-chairman-of-sterling-consolidated-corp-discusses-history-future-growth/
Authorized Shares 100,000,000 a/o Mar 30, 2017
Outstanding Shares 40,715,540 a/o Apr 17, 2017
Float 5,750,333 a/o Mar 04, 2015
https://www.otcmarkets.com/stock/STCC/profile
http://www.sterlingseal.com
http://www.rgsales-inc.com/about.html
http://www.sterlingconsolidated.com
$KSS I did "pull the trigger" 36.27
KSS KOHL's is kinda sticky with the women in my world, they keep going back.
Wactching closely but haven't pulled the trick yet
$GLW $AAPL Shares of Corning Inc. GLW, +1.03% rallied 1.6% in premarket trade Friday, after Apple Inc. AAPL, +0.93% said its new Advanced Manufacturing Fund will invest $200 million in the optical fiber maker. The investment will support research and development, capital equipment needs and glass processing, Apple said. "Corning is a great example of a supplier that has continued to innovate and they are one of Apple's long-standing suppliers," said Apple Chief Operating Officer Jeff Williams. "This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America." Apple's Advanced Manufacturing Fund is committed to investing at least $1 billion with U.S.-based companies to foster innovative production. Corning's stock has surged 19% year to date through Thursday, while Apple shares have soared 33% and the S&P 500 SPX, -0.14% has gained 7%.
https://finance.yahoo.com/m/bbb412a1-d38d-3824-8909-f9a2ec215812/corning%27s-stock-jumps-after.html
$GLW $AAPL Shares of Corning Inc. GLW, +1.03% rallied 1.6% in premarket trade Friday, after Apple Inc. AAPL, +0.93% said its new Advanced Manufacturing Fund will invest $200 million in the optical fiber maker. The investment will support research and development, capital equipment needs and glass processing, Apple said. "Corning is a great example of a supplier that has continued to innovate and they are one of Apple's long-standing suppliers," said Apple Chief Operating Officer Jeff Williams. "This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America." Apple's Advanced Manufacturing Fund is committed to investing at least $1 billion with U.S.-based companies to foster innovative production. Corning's stock has surged 19% year to date through Thursday, while Apple shares have soared 33% and the S&P 500 SPX, -0.14% has gained 7%.
Correction $IVFH 0.59
$IVFH 0.059 Good to see someone stepping up eod. Got a few more meself.
$NWL +16% in the last 5 sessions :)
SMDM..Toy Industry Veteran Joe Kling to Join Singing Machine Board of Directors
http://www.otcmarkets.com/stock/SMDM/news/Toy-Industry-Veteran-Joe-Kling-to-Join-Singing-Machine-Board-of-Directors?id=158449&b=y
Singing Machine Company, Inc. (The)
http://www.otcmarkets.com/stock/SMDM/profile
LUVU Still under increased accumulation ahead of 3rd Quarted report due anytime.
I let someone have a small amount in the 8s
$LUVU 0.089 +0.0267 (+42.86%)
Bid (Size) 0.065 (10000)
Ask (Size) 0.089 (141640)
Volume 159,500
Prev. Close 0.0623
IEBS..I had my hopes for a better Q. Seems to still be bleeding and no mention of change. I'm not holding alot so will
hold what I have. 7450shrs @.12
$LUVU 0.08 Well some one stepped up plucking the ask
$LUVU 0.08 Well some one stepped up plucking the ask
$GLW 28.94 hopefully more grow a head. #technology...
Corning Reports First-Quarter 2017 Financial Results
Corning, N.Y. | Corning Incorporated | April 25, 2017
Company achieves year-over-year growth across all businesses Strategy and Capital Allocation Framework continues to deliver value to shareholders
Corning Incorporated (NYSE: GLW) today announced results for first-quarter 2017.
News Summary:
Strong first-quarter results demonstrate the company’s continued positive momentum. Compared to the first quarter of 2016: GAAP EPS increased $0.43 to $0.07; core EPS rose 39% to $0.39; GAAP and core sales increased 16% and 14% to $2.38 billion and $2.49 billion, respectively
Solid performance across all business segments highlighted by: sales growth in Optical Communications; continued rapid adoption of Corning® Gorilla® Glass 5; and continued glass price moderation in Display Technologies
Further advancement on Strategy and Capital Allocation Framework initiatives: more than $6.5 billion returned to shareholders since Framework’s introduction in October 2015; technical and commercial progress demonstrated value of focused portfolio
Year-over-year growth in sales and EPS expected to continue in the second quarter
“We are very pleased with the excellent performance and growth across all of our businesses this quarter,” said Wendell P. Weeks, chairman, chief executive officer and president. “The strategic and financial benefits of Corning’s cohesive portfolio are becoming even more apparent. We are on track to deliver our 2017 objectives and overall Framework goals. Looking into the second quarter, we expect our momentum to be further demonstrated with year-over-year sales and EPS growth.”.....
More..
https://www.corning.com/worldwide/en/about-us/news-events/news-releases/2017/04/corning-reports-first-quarter-2017-financial-results.html
$ELY Callaway..Double-Digit Sales Growth, And A Significant Increase In Full Year Sales And Earnings Guidance...
http://ir.callawaygolf.com/phoenix.zhtml?c=68083&p=irol-newsArticle&ID=2270215
$CMCSA 39.10 half, see how this does.
NEWELL BRANDS $NWL Premarket 50.80 +4.41 (+9.51%)
$NWL Announces Strong First Quarter Results
May 8, 2017
Net Sales Growth 148.4 Percent; Core Sales Growth 2.5 Percent
Reported EPS $1.31; Normalized EPS $0.34
Raised 2017 Normalized EPS Guidance Range
Increased Dividend 21 Percent
HOBOKEN, N.J.--(BUSINESS WIRE)-- Newell Brands Inc. (NYSE:NWL) announced its first quarter 2017 financial results today.
First Quarter 2017 Executive Summary
Net sales growth of 148.4 percent to $3.3 billion; core sales growth of 2.5 percent.
Reported diluted earnings per share of $1.31 compared with $0.15 in the prior year, benefiting from a $784 million gain on the sale of the Tools business, core sales growth, cost synergies related to the Jarden acquisition, Project Renewal savings and contributions from acquisitions. These benefits more than offset increased investment in brand development, insights and e-commerce, negative foreign currency impacts, an increase in amortization of intangibles, higher interest expense and higher share count associated with the Jarden transaction.
Normalized diluted earnings per share of $0.34 compared with $0.40 in the prior year, as the benefits of increased sales and operating profitability were more than offset by higher interest expense and higher share count associated with the Jarden transaction. Normalized earnings per share exclude certain items described later in this release.
Reported operating margin of 4.8 percent, compared with 9.5 percent in the prior year, driven by the mix impact of the acquired Jarden business, including an increase in amortization of intangibles, and costs associated with the delivery of savings, partially offset by Project Renewal savings and cost synergies associated with the Jarden transaction. Normalized operating margin of 10.6 percent, a 250 basis point decline versus the prior year due to the mix impact of the acquired Jarden business and investment in brand development, insights and e-commerce, partially offset by cost synergies and Project Renewal savings.
Operating cash use of $289 million compared with a use of $261 million in the prior year; gross debt of $11.2 billion reflecting repayment of $726 million during the quarter and $2.8 billion since the creation of Newell Brands on April 15, 2016.
Completed acquisition of WoodWick fragranced candle business and divestitures of the Tools and Rubbermaid consumer totes businesses; subsequent to quarter end, completed acquisition of New Zealand based Sistema Plastics food storage and the divestitures of the fire starter and fire log and the Lehigh cordage businesses.
Announced new reporting framework aligned to Growth Game Plan with 5 segments (Live; Learn; Work; Play; Other) and 4 regions (North America; Latin America; Europe, Middle East, Africa; Asia Pacific).
Raised guidance for full year 2017 normalized diluted earnings per share to $3.00 to $3.20 compared with previous guidance of $2.95 to $3.15. Reaffirmed full year 2017 net sales guidance of $14.52 to $14.72 billion, representing 9.5 to 11 percent growth, and core sales growth guidance of 2.5 to 4.0 percent.
Announced a $0.04 per share increase in the quarterly dividend to $0.23 per share, an increase of 21 percent.
“Our first quarter results provide strong evidence of our team’s capacity to perform while we transform,” said Newell Brands Chief Executive Officer Michael Polk. “We delivered competitive core sales growth of 2.5 percent despite significant organization and portfolio change. Our core sales results were broad based with growth in all four regions and across four of five segments. Our international growth coupled with very strong e-commerce results more than offset the continuing impact of inventory de-stocking in U.S. mass channels. Our operating margin was well ahead of plan driven by strong cost synergies and stringent discretionary cost management. And we further deleveraged, paying down over $725 million of debt in the quarter, bringing our cumulative debt repayment since the Jarden transaction on April 15, 2016 to $2.8 billion.
“We have had a good start to 2017 and are on our way to unlock the transformative value creation associated with our long term guidance. We are confident that simultaneous growth and margin development fueled by savings and synergies will generate strong cash flow, leading to rapid deleveraging and then more aggressive value-creating uses of capital. We believe this transformative value creation story is unique to Newell Brands given our leading brand positions in large global categories, the inherent opportunities presented through the new scale of the company, the investments we are making in new capabilities and the strong cash generative nature of our businesses. This confidence is shared by our Board of Directors which has approved a 21 percent increase of the quarterly dividend to $0.23 per share.”....
More
http://ir.newellbrands.com/investor-relations/press-releases/press-release-details/2017/Newell-Brands-Announces-Strong-First-Quarter-Results/default.aspx
Newell Brands $NWL Announces Strong First Quarter Results
May 8, 2017
Net Sales Growth 148.4 Percent; Core Sales Growth 2.5 Percent
Reported EPS $1.31; Normalized EPS $0.34
Raised 2017 Normalized EPS Guidance Range
Increased Dividend 21 Percent
HOBOKEN, N.J.--(BUSINESS WIRE)-- Newell Brands Inc. (NYSE:NWL) announced its first quarter 2017 financial results today.
First Quarter 2017 Executive Summary
Net sales growth of 148.4 percent to $3.3 billion; core sales growth of 2.5 percent.
Reported diluted earnings per share of $1.31 compared with $0.15 in the prior year, benefiting from a $784 million gain on the sale of the Tools business, core sales growth, cost synergies related to the Jarden acquisition, Project Renewal savings and contributions from acquisitions. These benefits more than offset increased investment in brand development, insights and e-commerce, negative foreign currency impacts, an increase in amortization of intangibles, higher interest expense and higher share count associated with the Jarden transaction.
Normalized diluted earnings per share of $0.34 compared with $0.40 in the prior year, as the benefits of increased sales and operating profitability were more than offset by higher interest expense and higher share count associated with the Jarden transaction. Normalized earnings per share exclude certain items described later in this release.
Reported operating margin of 4.8 percent, compared with 9.5 percent in the prior year, driven by the mix impact of the acquired Jarden business, including an increase in amortization of intangibles, and costs associated with the delivery of savings, partially offset by Project Renewal savings and cost synergies associated with the Jarden transaction. Normalized operating margin of 10.6 percent, a 250 basis point decline versus the prior year due to the mix impact of the acquired Jarden business and investment in brand development, insights and e-commerce, partially offset by cost synergies and Project Renewal savings.
Operating cash use of $289 million compared with a use of $261 million in the prior year; gross debt of $11.2 billion reflecting repayment of $726 million during the quarter and $2.8 billion since the creation of Newell Brands on April 15, 2016.
Completed acquisition of WoodWick fragranced candle business and divestitures of the Tools and Rubbermaid consumer totes businesses; subsequent to quarter end, completed acquisition of New Zealand based Sistema Plastics food storage and the divestitures of the fire starter and fire log and the Lehigh cordage businesses.
Announced new reporting framework aligned to Growth Game Plan with 5 segments (Live; Learn; Work; Play; Other) and 4 regions (North America; Latin America; Europe, Middle East, Africa; Asia Pacific).
Raised guidance for full year 2017 normalized diluted earnings per share to $3.00 to $3.20 compared with previous guidance of $2.95 to $3.15. Reaffirmed full year 2017 net sales guidance of $14.52 to $14.72 billion, representing 9.5 to 11 percent growth, and core sales growth guidance of 2.5 to 4.0 percent.
Announced a $0.04 per share increase in the quarterly dividend to $0.23 per share, an increase of 21 percent.
“Our first quarter results provide strong evidence of our team’s capacity to perform while we transform,” said Newell Brands Chief Executive Officer Michael Polk. “We delivered competitive core sales growth of 2.5 percent despite significant organization and portfolio change. Our core sales results were broad based with growth in all four regions and across four of five segments. Our international growth coupled with very strong e-commerce results more than offset the continuing impact of inventory de-stocking in U.S. mass channels. Our operating margin was well ahead of plan driven by strong cost synergies and stringent discretionary cost management. And we further deleveraged, paying down over $725 million of debt in the quarter, bringing our cumulative debt repayment since the Jarden transaction on April 15, 2016 to $2.8 billion.
“We have had a good start to 2017 and are on our way to unlock the transformative value creation associated with our long term guidance. We are confident that simultaneous growth and margin development fueled by savings and synergies will generate strong cash flow, leading to rapid deleveraging and then more aggressive value-creating uses of capital. We believe this transformative value creation story is unique to Newell Brands given our leading brand positions in large global categories, the inherent opportunities presented through the new scale of the company, the investments we are making in new capabilities and the strong cash generative nature of our businesses. This confidence is shared by our Board of Directors which has approved a 21 percent increase of the quarterly dividend to $0.23 per share.”
http://ir.newellbrands.com/investor-relations/press-releases/press-release-details/2017/Newell-Brands-Announces-Strong-First-Quarter-Results/default.aspx
Thanks snakess..$LUVU..I watched it bid up Fri. from .06-.064
by the end of the day, only about 21k shares given.