- Subaru to Close Industrial Power Division, Plans to Focus Efforts on Automobiles
- Douglas Dynamics Announces Agreement to Acquire Dejana Truck and Utility Equipment
- Husqvarna Group Acquires Diamond Tool Supply
- STIHL Recalls Hedge Trimmers
- Ocean Bio-Chem 2015 Results
- Generac Holdings Inc. Reported First Quarter Earnings
- Event Calendar
- Bill Could Stave Off Higher Levels of Ethanol at the Pump
- Thoughts for the Day
- Briggs & Stratton Corporation (NYSE:BGG) Quarterly EPS From Continuing Operations Stands At $0.6293
- ARI’s William Nurthen Named Winner of a 2016 Milwaukee Business Journal CFO of the Year Award
- Look Before You Pump Has Added Many More Materials to Educate Consumers About the Pitfalls of E15 Fuel
Fuji Heavy Industries recently announced a name change to Subaru Corporation along with an operational change that will focus all engineering and financial resources on the quickly growing automobile division. The Industrial Power Products division will close after fulfilling all order commitments for 2017. Product parts and support will remain available indefinitely.
Subaru Industrial Power Products and Subaru Automobile have seen tremendous growth in recent years. With more demands for resources, the company will focus on the automobile division — in efforts to continue leading the industry in a number of automotive categories around the globe.
To make the transition as smooth as possible for its customers, Subaru intends to continue to supply spare parts for a reasonable period to meet market requirements. Additionally, customers will see no change in quality assurance of products.
Effective immediately, FHI suspends all new development projects of the industrial business. This includes not only newly received inquiries but current on-going projects as well.
FHI will temporarily maintain the production, supply and servicing of existing models. The exact suspension date of these existing products has not yet been determined; but FHI’s intent is to cease production of existing products by the end of September 2017. The company will keep customers informed of any further details regarding production.
For more information about these changes please contact David Frank, vice president of sales and marketing at firstname.lastname@example.org.
Transaction Would add a Premier Up Fitter and Specialized Manufacturer Focused on Commercial Work Vehicles in the Eastern U.S.
MILWAUKEE, June 16, 2016 (GLOBE NEWSWIRE) — Douglas Dynamics, Inc. (NYSE:PLOW), North America’s premier manufacturer of vehicle attachments and equipment, today announced it has entered into a definitive agreement to acquire Dejana Truck and Utility Equipment (Dejana) for $206 million, including a $26 million performance earn out provision. The transaction is subject to customary regulatory approvals and other closing conditions and is expected to close during the third quarter of 2016.
- Acquisition would significantly strengthen position as a premier manufacturer and up fitter of vehicle attachments and equipment
- Increasing exposure to Class 4-6 trucks would round out capabilities across all commercial work vehicle segments, providing growth opportunities
- Adding Dejana is expected to diversify revenue and reduce influence of weather
- Company plans to utilize DDMS to help Dejana continue its strong growth trajectory, with five consecutive years of growth
- Deal is expected to close in Third Quarter 2016 and be accretive to earnings in 2017
Over the past 59 years, Dejana has grown organically to become the premier up fitter of Class 4-6 trucks and other commercial work vehicles in the Eastern U.S. Dejana also is a leading specialized manufacturer of storage solutions for trucks and vans and cable pulling equipment for trucks. Dejana is a well-run family-owned business that has a long track record of growth and a strong reputation within the truck equipment industry. Dejana has built strong relationships with leading truck OEMs over more than 25 years and is considered a trusted partner for up fitting all types of commercial work vehicles. Dejana generated net sales of $145 million over the trailing twelve months ending March 31, 2016.
The acquisition of Dejana is a natural extension and expansion of the up fit strategy initiated with the Henderson Products acquisition at the end of 2014. By increasing its exposure to Class 4-6 trucks the Company is both focusing on its core competencies and rounding out its capabilities across all commercial work vehicle segments, providing meaningful opportunities for growth.
“The addition of such a high quality company as Dejana will significantly strengthen our position as a premier manufacturer and up fitter of vehicle attachments and equipment. The deal provides a new complementary portfolio of services and products to drive deeper customer relationships, and expands our geographic footprint in the Eastern U.S.,” said James L. Janik, Chairman, President, and Chief Executive Officer of Douglas Dynamics, Inc. “The deal is the logical next step in our stated M&A strategy to accelerate growth. By expanding into a broader arena of commercial work vehicle operations we will diversify and expand our revenue and continue to reduce the influence of weather on our overall business.”
“On behalf of my father, Pete Dejana, who founded our company in 1957, and the rest of the Dejana family, we are pleased to be joining such a great organization as Douglas Dynamics,” said Andrew Dejana, President of Dejana, “We are very proud of the legacy we have built and are happy that the Dejana name will continue to provide innovative, best in class, cost effective solutions for many years to come. We look forward to working with the Douglas team to build upon the successful partnership we have developed over the past 25 years.”
By utilizing the Company’s proprietary Douglas Dynamics Management System (DDMS), the Company plans to assist Dejana to continue its growth trajectory and deliver industry leading service levels. The Company expects DDMS implementation to continue to drive cost savings and margin improvement through global sourcing and procurement.
Once the deal is completed, the Dejana management team, including its President, Andrew Dejana, will continue to lead Dejana. The acquisition is expected to be accretive to earnings per share on a full-year basis in 2017. Douglas Dynamics intends to fund the acquisition through a combination of cash, ABL revolver draw and an expansion of its existing term loan agreement.
Dejana maintains seven manufacturing and up fit facilities that encompass 240,000 square feet of work space on over 90 acres of property in the North East and Mid-Atlantic regions. Dejana currently employs approximately 500 people in five states and current customers include leading utility, energy, telecommunications and transportation companies, as well as large municipal entities.
Husqvarna Group’s Construction division has acquired Diamond Tool Supply, based in Monroe, Mich., a producer of polishing and grinding diamond tools for concrete, stone and terrazzo. The acquisition will add sales of about $5.8 million, mainly in the United States to the division based on full year 2015 accounts.
“The acquisition of Diamond Tool Supply reinforces our position as a market leader of complete solutions for the construction grinding and polishing industry,” said Henric Andersson, president of Husqvarna Construction Products. “With the acquisition of DTS brings a strong customer base that will continue to support and expand as well as manufacturing operations in Bulgaria, both clear assets to our diamond tool business.”
Diamond Tool Supply has around 70 employees. The acquired operation will be included in Husqvarna Group’s accounts as of May 3. Husqvarna is based in Sweden with U.S. headquarters in Olathe, Kan.
DETAILS: STIHL model HSA 65 battery-powered hedge trimmers. “STIHL” and “HSA 65″ are printed on the side of the battery compartment between the trigger and the loop handle. The hedge trimmer is gray and orange, with a loop handle, removable battery and a 20-inch hedge trimming blade. They were sold at authorized STIHL dealers nationwide from June 2010 through April 2016.
WHY: The hedge trimmer can operate faster than expected, continue running after the trigger is released or operate by depressing either the trigger or the front handle switch individually, posing a laceration hazard.
INCIDENTS: Seven reports of the trigger or front handle switch not operating properly. No injuries have been reported.
HOW MANY: About 8,000 in the U.S. and 1,000 in Canada.
FOR MORE: Call STIHL Inc. at 800-610-6677 from 8 a.m. to 8 p.m. ET Monday through Friday, send email to email@example.com or visit www.stihlusa.com and click on Product Recalls at the bottom of the page for more information.
Ocean Bio-Chem, Inc. President and CEO Peter Dornau stated: “Our 2015 results reflect our high legal costs in connection with rigorously contested litigation between our subsidiary, Star brite Distributing, Inc., and a major competitor. Each party included a claim that the other engaged in false advertising in connection with competing products. In February 2016, a jury trial on the parties’ allegations was held in the United States District Court for the Southern District of Florida. While the jury found that neither party engaged in false advertising, we were especially gratified with the jury’s verdict that Star brite did not engage in false advertising on any of its claims with respect to its flagship product, Star Tron® Enzyme Fuel Treatment.”
For the year ended December 31, 2015, the Company reported net income of approximately $461,000 compared to net income of approximately $2,048,000 for the year ended December 31, 2014. Basic and diluted earnings per share were both $0.05 in 2015, compared to basic and diluted earnings per share of $0.23 in 2014. The Company reported net sales for 2015 of approximately $34.0 million compared to approximately $33.9 million for 2014.
|EPS – BASIC & DILUTED||
|DIVIDENDS DECLARED PER COMMON SHARE||
The false advertising litigation was argued before the jury in a 13 day trial in February 2016. As a result, legal expenses with respect to the trial, which exceeded $1.0 million in the first quarter of 2016, will adversely affect the Company’s first quarter 2016 financial results.
Mr. Dornau stated: “With the trial now behind us, we intend to focus our efforts going forward on opportunities for continued growth of our brands. We should see growth in both sales and margins as the Company commences direct sales to a major mass retailer. Previously, sales to this retailer were made through distributors. In addition, during 2015, we continued to make progress in expanding distribution of our Performacide® products, which effectively kills viruses and bacteria and could help avoid major health problems. We have added distributors in several markets, and we anticipate agreements with additional distributors in 2016.” Mr. Dornau concluded “We are confident that our opportunities, coupled with our emergence from the time-consuming and expensive litigation, will enable us to improve our operating performance in 2016. We appreciate the support of our shareholders for their continued confidence in our Company.” Ocean Bio-Chem, Inc. (NASDAQ: OBCI), is a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets under the Star brite® Star Tron® and other trademarks within the United States of America and Canada. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products. The Company also manufactures markets and distributes a line of products including disinfectants, sanitizers and deodorizers.
Forward-looking Statements: Certain statements contained in this Press Release, including without limitation, expected growth in both sales and margins, anticipated agreements with additional distributors for Performacide® products, and improved operating performance in 2016, are forward-looking statements. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed forward-looking statements. Without limiting the generality of the foregoing, words such as “believe,” “may,” “will,” “expect,” “anticipate,” “intend,” or “could,” including the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Factors that may affect these results include, but are not limited to, the highly competitive nature of our industry; reliance on certain key customers; changes in consumer demand for marine, recreational vehicle and automotive products; our inability to enter into additional agreements with distributors for Performacide® products; our inability to expand sales as a result of our advertising and promotional efforts; exposure to market risks relating to changes in interest rates, foreign exchange rates and prices for raw materials that are petroleum or chemical based, and other factors described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2015
The Waukesha, Wisconsin-based company said it had profit of 15 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 46 cents per share. The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The generator maker posted revenue of $286.5 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $279.7 million.
Generac Holdings shares have risen 26 percent since the beginning of the year. The stock has dropped 5.5 percent in the last 12 months.
Generac Holdings Equity Analysis
Generac Holdings Inc. (NYSE:GNRC) opened trading today as $34.79 and is trading in the range of 34.28-34.91 today. Generac Holdings’ current market cap stands at $2.32 billion.
Compared to other peers in the Diversified Machinery sector, Generac Holdings hasn’t performed in terms of quarterly revenue growth year over year at -0.11 vs. the industry average of 0.15. Generac Holdings’ earnings per share is currently at 1.12, which is higher then the sector average of 0.45.
Generac Holdings is currently covered by 10 Wall Street analysts. The mean target price is $39.17 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 2.3 which is based on 3 Strong Buy, 1 Buy and 6 Hold ratings.
The most recent analyst actions consisted of BofA/Merrill upgrading the stock on March 14th and Northcoast initiating coverage with an initiation rating back in December.
The current quarter EPS consensus estimate is .62 with revenue estimates of 347.90M. Sales are expected to drop at a 20.60% rate. Generac Holdings reported actual earnings last quarter of 0.46 which beats the 0.42 consensus estimate, a 9.50% surprise.
Generac Holdings Inc. designs, manufactures, and markets power generation equipment and other engine powered products for the residential, light commercial, industrial, oil and gas, and construction markets in the United States, Canada, and internationally.
“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.”
– John Quincy Adams
“I have always admired the ability to bite off more than one can chew and then chew it.”
– William DeMille
“Think of yourself as on the threshold of unparalleled success. A whole clear, glorious life lies before you. Achieve! Achieve!”
– Andrew Carnegie
“If A equals success, then the formula is A equals X plus Y and Z, with X being work, Y play, and Z keeping your mouth shut.”
“Beginning today, treat everyone you meet as if they were going to be dead by midnight. Extend to them all the care, kindness and understanding you can muster, and do it with no thought of any reward. Your life will never be the same again.”
– Og Mandino
“The minute a man ceases to grow, no matter what his years, that minute he begins to be old.”
– William James
From Outdoors | David Sikes
If you don’t have an opinion on ethanol-blended gasoline then you’re in a minority. And you probably don’t own a boat. If you run an outboard motor, chain saw, lawn mower, jet ski or ATV, you probably already are aware of the corrosive properties of E10, which nearly every fuel pump in the state dispenses. E10 is shorthand for a fuel blend with 10 percent alcohol and 90 percent gasoline.
Well, brace yourself for E15.
Recently the National Marine Manufacturers Association distributed 100,000 warning labels to boat manufacturers across the country to alert boaters of the potential dangers of using fuel with a higher ethanol content. This came after the U.S. Environmental Protection Agency in May proposed higher ethanol quotas for 2017 under the federal Renewable Fuel Standard adopted in 2007.
Ethanol also lowers fuel economy. Older engines are more susceptible to corrosion as are older components of fuel tanks, hoses, valves and such. Ethanol, even at 10 percent, destroys or dissolves old fiberglass gas tanks. Newer tanks are not a problem. And because alcohol is a solvent, it melts or corrodes plastic, rubber and sometimes aluminum.
While groups such as the American Fuel & Petrochemical Manufacturers and American Petroleum Institute reacted by suggesting Congress repeal or substantially reform the federally mandated schedule to increase levels of renewable fuel in our gasoline, a Texas congressman spearheaded a bipartisan bill to limit the injurious and inefficient additive.
Hats off to U.S. Rep. Bill Flores, a Republican from Bryan, who teamed up with two Democrats and another Republican to introduce House Bill 5180, or the Food and Fuel Consumer Protection Act.
“H.R. 5180 would essentially require the EPA to cap the (Renewable Fuel Standard) mandate at 9.7 percent of gasoline demand and stay below the E10 blend wall as long as the mandate continues (through and beyond 2022),” said Andre Castro, a spokesman for Flores.
If the EPA forces E15 into the marketplace, and if history is any indication of the consequences, we could expect E10’s availability to diminish in much the same way pure gasoline was eliminated from pumps over the past decade. The last time I checked, ethanol-free fuel in the Coastal Bend was available exclusively at two outlets: Planter’s Grain Co-Op on Odom’s main drag and Ingleside’s Bayside Market near the public boat ramp.
The somewhat misguided notion behind ethanol-blended fuel, of course, is that it reduces hydrocarbon emissions that pollute the air, while reducing our dependence on overseas oil. But at the same time it reduces fuel economy, some say by as much as 3.3 percent, while others say by as much as 7 percent. And producing it may actually require the burning of more fossil fuel than the alternative requires.
Most ethanol in the United States is made from corn, which produces its own set of problems. A more efficient and conservation-friendly ethanol would come from switchgrass or other renewable plants that require less habitat destruction and does not promote higher feed and food costs. But ethanol from switchgrass still damages small engines and outboards.
On all of these points, the website FactCheck.org clearly explains some of the reasons the debate over ethanol is so contentious. In a nutshell, many of the talking points are contradictory, in part, because of institutionalized deception.
FactCheck attempts to sort through the misinformation, but in the end, we art still left with a choice of who to believe. The scientific community, as usual, cannot agree on whether the claims on either side are true.
According to the Union of Concerned Scientists, a variety of factors determine whether ethanol is better than gasoline for the environment. These factors include the many environmental impacts associated with production, delivery and the use of ethanol. Together, these are referred as ethanol’s lifecycle emissions
“The best ethanol can produce as much as 90 percent fewer lifecycle emissions compared to gasoline,” according to a Union article titled “The Truth about Ethanol.” “But the worst ethanol can produce significantly more lifecycle emissions than gasoline.”
The FactCheck article points to two reputable studies that concluded the use of corn ethanol nearly doubles greenhouse emissions over 30 years. The author of one of the studies said corn-based ethanol represents “an inefficient and expensive greenhouse gas mitigation policy.”
According to FactCheck, the ethanol lobby suggests that only “Big Oil” opposes the federal fuel mandates. That’s simply not true.
The opposition camp lists restaurant owners worried about food prices, boat manufacturers and owners, the Sierra Club, the Environmental Working Group, Friends of the earth and even Ducks Unlimited.
That’s right, ethanol is bad for waterfowl and other water birds. Production that displaces other less-profitable crops can push farmers to cultivate vast wetlands and wildlife habitats or simply expand cornfields into those habitats. And much of this habitat is in the rich duck-nesting landscape referred to as the Prairie Pothole Region in the northern United States.
In 2007 there were 116 ethanol plants in the United States. Today there are 216, according to Ethanol Producer Magazine. Even former ethanol backer Al Gore denounced corn-based ethanol, calling the federal program a mistake in 2010.
EPA ETHANOL PROPOSAL
What: Environmental Protection Agency’s proposal to raise ethanol quotas under the federal Renewable Fuel Standard.
Deadline for public comment: July 11.
Online: http://www.regulations.gov Search: Docket ID No. EPA-HQ-OAR-2016-0004.
For the year ended 2016-03-31 Briggs & Stratton Corporation (NYSE:BGG) basic consolidated EPS reported was $1.0292. For the quarter ended 2016-03-31, it came at $1.0292.
EPS is a part of a firm’s earnings that is owed to each outstanding stock. Calculated by dividing the net profit by the total count of outstanding shares, it is considered as a very vital financial parameter. Suppose a firm “S” has recorded a net profit of $1,000 in a given year. It boasts total 100 outstanding shares. So, its EPS will be $10. A company issues its earnings per share every quarter, which makes it easy for investors to know the financial performance of a company.
EPS Growth is one of the key indicators of management performance as it represents how much profit a firm is recording for its stakeholders. However, EPS alone fails to tell the entire story. Investors have to keep a close track of the price to earnings ratio to get clear picture.
EPS from continuing operations
Briggs & Stratton Corporation (NYSE:BGG) EPS from continuing operations came at $0.6293 for the fiscal ended 2016-03-31. For the quarter ended 2016-03-31, this figure was $0.6293.
EPS contribution from parent
Briggs & Stratton Corporation (NYSE:BGG) posted basic EPS of $1.0292 for the year ended 2016-03-31 from its parent entity. For the quarter closed 2016-03-31 it came at $1.0292.
Basic net EPS
Briggs & Stratton Corporation (NYSE:BGG) basic net EPS was $1 for the year ended 2016-03-31. For the quarter ended 2016-03-31, it came at $1.
Consolidated diluted EPS
Briggs & Stratton Corporation (NYSE:BGG) consolidated diluted EPS was 1.028 for the year ended 2016-03-31. For the quarter ended 2016-03-31, it came at $1.028.
Basic diluted EPS
Briggs & Stratton Corporation (NYSE:BGG) posted basic diluted EPS of $0.6254 for the quarter ended 2016-03-31. For the year ended 2016-03-31, basic diluted EPS was $0.6254.
Net diluted EPS
Net diluted per-share earnings for the fiscal closed 2016-03-31 was $1. For the quarter ended 2016-03-31, net diluted EPS was $1.
Diluted EPS from parent
Briggs & Stratton Corporation (NYSE:BGG) diluted EPS from parent firm came at $1.028 for the year ended 2016-03-31. For the quarter ended 2016-03-31 it came at $1.028.
Briggs & Stratton Corporation (NYSE:BGG) posted net basic EPS of $1 for the year ended 2016-03-31. For the quarter ended 2016-03-31, basic net EPS was $1
For the year ended 2016-03-31, basic shares outstanding count is 44.392 while for the quarter ended 2016-03-31 is 44.392.
For the fiscal ended 2016-03-31, the diluted outstanding shares is 44.442 while for the quarter ended 2016-03-31 is 44.442.
Milwaukee, Wis., June 6, 2016 – ARI Network Services, Inc. (NASDAQ:ARIS) announced today that its Chief Financial Officer, William Nurthen, has won a 2016 CFO of the Year Award in the Medium Company category from The Milwaukee Business Journal.
“It is an honor to receive this award from The Milwaukee Business Journal,” said Nurthen. “The award is a reflection of the collective efforts of the finance team at ARI. The group has consistently risen to the occasion in support of our growth strategy, efficiently managing issues such as acquisition integration and expansion in our product offerings and customer base, all while maintaining the high reporting standards of a publicly traded company.”
Launched in 2008, the annual CFO of the Year Award is designed to recognize CFOs who play vital roles in the success of their businesses or organizations as well as make valuable contributions to their profession and communities. Nominations for the award were made by colleagues, companies and peers based on their wide range of experience, commitment, character and value to their organizations. Winners were selected by a panel of judges comprising financial professionals from the Milwaukee area.
“I was pleased to have the opportunity to nominate Bill for a 2016 CFO of the Year Award,” said William Mortimore, founder of Merge Healthcare, CEO of Project Foundry and member of ARI’s Board of Directors. “As an entrepreneur and founder of a publicly traded company, an ARI Board member since 2004 and Chairman of the Audit Committee since 2008, I have hired and worked with several CFOs. Bill is the winner. In terms of the stock price and other changes that have taken place in our organization, I don’t think you can point to anyone in Milwaukee who has had as much impact on a public company as Bill has in his role of ARI’s CFO.”
ARI Network Services, Inc. (ARI) (NASDAQ: ARIS) offers an award-winning suite of SaaS, software tools, and marketing services to help dealers, equipment manufacturers and distributors in selected vertical markets Sell More Stuff!™ – online and in-store. Our innovative products are powered by a proprietary data repository of enriched original equipment and aftermarket electronic content spanning more than 17 million active part and accessory SKUs and 750,000 equipment models. Business is complicated, but we believe our customers’ technology tools don’t have to be. We remove the complexity of selling and servicing new and used vehicle inventory, parts, garments and accessories (PG&A) for customers in the automotive tire and wheel aftermarket, powersports, outdoor power equipment, marine, home medical equipment, recreational vehicles and appliance industries. More than 23,500 equipment dealers, 195 distributors and 3,360 brands worldwide leverage our web and eCatalog platforms to Sell More Stuff!™ For more information on ARI, visit investor.arinet.com.
Look Before You Pump Has Added Many More Materials to Educate Consumers About the Pitfalls of E15 Fuel
In order to educate consumers about the pitfalls of E15 and higher fuel, OPEI launched an ethanol education and consumer protection program. For manufacturers and distributors, they offer a variety of free materials that can be used to educate dealers and ultimately consumers. Recently updated materials include new social media posts, an infographic, a fill-in-the-blank press release, and blog posts.
OPEI also offers Consumer and Dealer Fact Sheets, and Consumer and Dealer Rack Cards that can be purchased for a very nominal fee. You need a username and password to access both the free and paid materials. Click here for more information. Contact Kristen Reamy at OPEI with questions at firstname.lastname@example.org.