ESCO Technologies - 500 Beiträge pro Seite

[R-BgO]

12.11.2009 22:01
ESCO Reports Fiscal 2009 Results and Announces Initiation of Quarterly Cash Dividend

ST. LOUIS, Nov. 12 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today reported its operating results for the fourth quarter and fiscal year ended September 30, 2009, and announced that its Board of Directors has voted to initiate a quarterly cash dividend payable at an annual rate of $0.32 per share. The first quarterly dividend of $0.08 per share will be paid on January 19, 2010 to stockholders of record as of January 4, 2010.

Vic Richey, Chairman and Chief Executive Officer, commented, "The announcement today of the initiation of a cash dividend reflects the confidence that the Board of Directors and Management have in our long-term growth opportunities and financial strength. We are pleased to return a portion of our profits to our shareholders, while at the same time, maintaining our emphasis on investing in new products that will support our growth, meeting our anticipated capital requirements, and paying down our remaining debt."

2009 Highlights -- EPS from Continuing Operations was $0.82 in the fourth quarter and $1.86 for the year. -- Favorable settlement of uncertain tax positions in the 2009 fourth quarter positively affected EPS for the quarter and the full year by $0.19. -- Cash from operations was $40.5 million in the quarter, and $77.6 million for the year. -- As a result of the strong cash flow, net debt outstanding decreased 34 percent to $130.6 million at September 30, 2009, reflecting a leverage ratio of 1.86x. -- Entered orders of $180.2 million were recorded in the fourth quarter and $634.0 million for the year, which resulted in book-to-bill ratios greater than 1.0x, respectively. -- Firm order backlog increased during the quarter and the fiscal year to an all-time high. Operating Results

The following table presents EPS for the fourth quarters and fiscal years ended September 30:

Fourth Quarter: 2009 2008 --------------- ---- ---- EPS - Continuing Operations $0.82 0.75 EPS - Discontinued Operations $0.00 0.18 ----- ---- EPS $0.82 0.93 ===== ==== Total Year: ----------- EPS - Continuing Operations $1.86 1.81 EPS - Discontinued Operations $0.00 (0.03) ----- ---- EPS $1.86 1.78 ===== ====

EPS is presented from "Continuing Operations" and "Discontinued Operations." Discontinued Operations represent the results of Comtrak which was sold in March 2009 and Filtertek which was sold in November 2007 (first quarter of fiscal 2008).

Effective Tax Rate

In September 2009, U.S. tax authorities completed their regular examination of certain previously filed tax returns. The completion of this examination substantiated the Company's positions on previously uncertain tax areas and enabled Management to reassess its measurement of the related tax liabilities. The closure of this examination resulted in a $5.0 million favorable adjustment to the 2009 fourth quarter tax provision, which significantly reduced the effective tax rate for the quarter and the year. Included in the examination results was the confirmation of the Company's tax position for the deduction of losses realized on the disposition of a portion of the MicroSep business in 2004.

The effective tax rates were 8.5 percent and 35.1 percent in the fourth quarters of 2009 and 2008, respectively, and 22.0 percent and 33.3 percent for the fiscal years 2009 and 2008, respectively. The favorable tax rates in all of the comparable periods noted were the result of varying degrees of income tax benefits and credits realized in the respective periods.

Cash Flow

Cash flow from operating activities generated $40.5 million during the 2009 fourth quarter and $77.6 million for the full year. As a result of this strong cash flow, net debt outstanding was reduced to $130.6 million at September 30, 2009 reflecting a favorable leverage ratio of 1.86x.

Entered Orders

Entered orders in the 2009 fourth quarter were $180.2 million, reflecting a book-to-bill ratio of 106 percent, and for the full year, entered orders were $634.0 million, or 102 percent of sales.

Order Highlights Include: -- Fourth quarter Aclara RF AMI gas products with PG&E were $6.5 million, bringing total PG&E gas project orders to 3.5 million units and $199 million to date. -- Aclara RF AMI water products with New York City were $4.9 million in the fourth quarter, bringing the total project to 493,000 units and $39.1 million to date. -- Aclara PLS AMI products in the fourth quarter were $35.2 million, bringing total year orders to $123.8 million, up from $121.6 million in 2008. -- Aclara PLS orders from COOPs and Munis were $87.9 million in 2009 compared to $82.1 million in 2008. Fiscal 2009 includes $5.4 million of load control / demand response devices. -- VACCO multi-year fluid flow product orders for the Navy's Virginia Class submarine were $32.2 million during the fourth quarter. -- TekPackaging orders for Thermoscan® ear thermometer probe covers were $11.7 million during the fourth quarter. Chairman's Commentary

Mr. Richey further commented, "I am extremely pleased with our 2009 operating results. Given the state of today's challenging global economy, being able to generate nearly $78 million of cash flow from operations, and to increase our firm order backlog to an all time high was very satisfying. This positive outcome was due to the extraordinary efforts of our dedicated Management teams across the organization. As a result of these efforts and in spite of softness in several of our end markets, we were able to achieve the majority of our internal operating goals.

"Our Aclara group continues to gain momentum, and our ongoing investments in new products and advanced technologies continue to solidify our market position in the fast growing Smart Grid area. The recent announcement of our development of the Aclara Smart Communications Network solution, which is a revolutionary, high-bandwidth, high-speed, wide area network for utility customers, is further evidence of our commitment to expand our position as a leading provider of next generation technologies for the Smart Grid.

"Like others in the AMI market, during 2009 we experienced delays of some expected orders and sales as a result of the uncertainty surrounding the government's Stimulus Program. Several of our customers who participated in the Grant Program delayed placing orders and taking deliveries until the DOE announced the selection results. The customers' goal was to maximize the impact of the available grant money, and with this uncertainty now resolved, we fully expect to see a meaningful amount of progress. Based on the grant recipients identified, and with our participation in many of these projects being finalized, our confidence in the future remains high.

"Strategically, we are maintaining our focus on creating significant growth, and we will continue to focus our R&D and engineering spending toward new product development initiatives in the domestic AMI / Smart Grid area, as well as expanding our position in the international AMI market.

"We are making substantial progress with a number of large AMI projects and customers in our international pipeline, and we are enthused with our near-term order prospects in South America, Mexico and Asia. As these international projects begin to deploy Aclara products, we expect they will be a significant contributor to our multi-year growth outlook.

"While I am very enthusiastic about the significant number of opportunities in front of us currently, the ongoing uncertainties of today's economy, the delays associated with the Stimulus Program, and the timing of other customers finalizing their AMI deployment schedules have caused us to have a more conservative perspective as we address fiscal 2010. As discussed in the Business Outlook section of this release, we are taking a cautious approach to our near-term outlook and expectations to reflect these uncertainties.

"I am confident that given our new products currently being introduced, the strength and size of our domestic and international business prospects, and acquisition opportunities that are currently under review, we are well positioned for the future."

Sales

Fourth quarter sales were $169.4 million in 2009 compared to $192.5 million in 2008, and total year sales were $619.1 million in 2009 compared to $613.6 million in 2008. As noted in earlier releases, fiscal year 2008 sales included $31.3 million of revenue recognized that had been deferred from prior periods related to Aclara PLS deliveries to PG&E. Excluding the PG&E deferred revenue recognized in 2008, fiscal 2009 sales increased $36.8 million, or 6.3 percent.

Utility Solutions Group (USG) fourth quarter sales decreased $11.3 million in 2009 compared to the 2008 fourth quarter, but increased $21.3 million for the full year. Absent the $31.3 million PG&E / PLS deferred revenue in 2008 noted above, fiscal 2009 sales increased $52.6 million, or 16.4 percent from the prior year. The USG sales increase for the total year was primarily driven by significantly higher deliveries of fixed network RF AMI gas products to PG&E; continued increases in AMI water product deliveries; and higher sales at Aclara Software. Additionally, having Doble for 12 months in 2009 versus 10 months in 2008 contributed an additional $9.9 million of sales.

Test sales in 2009 decreased in the fourth quarter and full year primarily due to the timing of large chamber deliveries to the international wireless and electronics end-markets.

Filtration sales in 2009 decreased in the fourth quarter and total year as sales increases in the defense aerospace and space product lines at VACCO were offset by lower commercial aerospace product deliveries at PTI.

Earnings Before Interest and Taxes (EBIT)

On a segment basis, items that impacted EBIT dollars and EBIT as a percent of sales ("EBIT margin") during the fourth quarter and fiscal year 2009 included the following:

In the USG segment, EBIT for the 2009 fourth quarter was $22.6 million compared to 2008's fourth quarter EBIT of $24.4 million (which includes $6.5 million of profit related to the fourth quarter PG&E / PLS sales deferral noted above). USG's EBIT was impacted by the significant increases in sales of RF AMI products and Aclara Software, offset by lower sales of PLS AMI products (PG&E related) and lower Doble hardware sales. The RF AMI business contributed the largest increase to EBIT during 2009 as a result of the significant sales increases noted above.

The 2009 USG EBIT was negatively impacted by approximately $2.3 million or $0.07 per share of exit and relocation costs at Aclara RF related to the relocation of its operations from three leased facilities to a single, newer, more efficient leased facility. These costs primarily related to the noncash write-off of leasehold improvements, vacant facility charges, and moving costs.

Additionally, the 2009 USG EBIT comparison was significantly impacted by the 2008 EBIT contribution of $15 million ($8.5 million in the first quarter of 2008, and $6.5 million in the fourth quarter of 2008) associated with the PG&E / PLS deferred revenue recognized in 2008.

In the Test segment, EBIT dollars and EBIT margins were lower in the 2009 fourth quarter due to the lower sales volume, but higher for the year in 2009 due to favorable changes in sales mix and effective cost management throughout the organization.

In the Filtration segment, EBIT dollars decreased in 2009 due to lower sales of high-margin commercial aerospace products, an increase in research and development costs, and higher bid and proposal costs incurred in the pursuit of a significant number of Space related projects. For the fourth quarter of 2009, Filtration's EBIT margins were consistent with prior year on lower sales due to stringent cost management across the segment.

Corporate operating costs were higher in 2009 due to higher amortization expenses related to recent acquisitions that included identifiable intangible assets, higher stock compensation expenses and higher professional fees.

Business Outlook

Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.

TWACS NG Software Update

In October 2009, Management formally re-evaluated the expected remaining useful life of its TWACS NG software based on the significant amount of international AMI opportunities currently under evaluation. As a result, Management determined it has 10-plus years of projected AMI revenues and profits expected to be generated using this advanced software platform. Therefore, beginning in 2010, the Company will amortize the remaining TWACS NG asset value of $44 million over its minimum expected remaining life of 10 years.

FY 2010 versus 2009

During 2010, Management anticipates gas AMI product deliveries to PG&E will be significantly lower than the quantities delivered in 2009 as the contract is entering the latter stages of its deployment. The current outlook for 2010 PG&E gas product sales is expected to be approximately $40 million, coming off its peak of $98 million in 2009.

On the positive side, a number of domestic and international projects across the Company will show meaningful increases in sales and EBIT in 2010, which will contribute significantly toward offsetting the PG&E decrease. Additionally, a number of cost reduction initiatives and operating improvements implemented across the Company will help to mitigate the PG&E-driven EBIT decrease.

As a result, Management expects 2010 consolidated revenues to decrease approximately three to five percent and EBIT to decline marginally compared to 2009. In addition, the 2010 effective tax rate is projected to be more normalized at 38 percent, as Management does not expect to realize the same amount of tax benefits and credits during 2010 as were realized in 2009.

Given the PG&E project wind-down and higher effective tax rate, Management expects EPS to be lower in 2010 compared to 2009. On a quarterly basis, Management expects 2010 revenues and EPS to be heavily "second half" weighted as they were in 2009 and 2008. Regarding the 2010 first quarter, because of the delays caused by the Stimulus Program funding that is impacting the timing of customer orders and delivery schedules, and continued investments in engineering and new product development, Management expects 2010 first quarter EPS to be generally breakeven.

The Company continues to be actively engaged in several large domestic and international projects across all three operating segments that have the ability to favorably impact EPS in 2010 and beyond.

Management has decided to defer providing specific 2010 guidance due to the significant size and uncertain timing of the numerous projects in which the Company is currently engaged. Combined with the impact of the global economic recovery, Management believes the specific financial impact and timing of these large projects will be more quantifiable in the future, and therefore believes it is prudent to defer providing specific EPS guidance at this time.

Chairman's Commentary - Wrap-Up

Mr. Richey concluded, "We have a sizeable amount of specific, identifiable growth opportunities that should manifest themselves into orders and sales in varying degrees throughout fiscal 2010. Some of these opportunities are on projects where we have already been selected, and others are opportunities where we view ourselves as the front-runner in the selection process. I expect 2010 to be a year of significant activity as many of these projects materialize and firmly set us up for meaningful growth in sales and earnings over the next few years and beyond. I remain very optimistic about our current business prospects both domestically and internationally. Through our disciplined planning process and management oversight, I am confident that we have sufficient opportunities and the appropriate contingencies in place to allow us to execute our strategic plan. Our commitment remains the same, to achieve our long-term goal of increasing shareholder value."

Conference Call

The Company will host a conference call today, November 12, at 4 p.m. Central Time, to discuss the Company's fourth quarter and fiscal year 2009 operating results. A live audio webcast will be available on the Company's web site at http://www.escotechnologies.com/. Please access the web site at least 15 minutes prior to the call to register, download, and install any necessary audio software. A replay of the conference call will be available for seven days on the Company's web site noted above or by phone (dial 1-888-203-1112 and enter the pass code 4610995).

[R-BgO]

Corporate Profile
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products.

[witschka]

Antwort auf Beitrag Nr.: 38.380.326 von R-BgO am 13.11.09 10:49:16

bitte in kurzform auf deutsch

danke

[R-BgO]

Friday, November 13, 2009, 8:37am CST | Modified: Friday, November 13, 2009, 3:37pm
Esco profit drops in Q4, but rises for fiscal 2009
St. Louis Business Journal


Esco Technologies Inc. reported an 11 percent slide in earnings in the fourth quarter ended Sept. 30 but a 6 percent increase in sales for fiscal 2009.

The company posted a profit $21.8 million on sales of $169.4 million, down from a profit of $24.5 million on sales of $192.5 million a year ago.

For the fiscal year 2009 ended Sept. 30, Esco reported a profit of $49.4 million on sales of $619.1 million, up from a profit of $46.7 million on sales of $613.6 million in fiscal 2008.

Results reflected a $5 million favorable tax adjustment, which significantly reduced the effective tax rate for the quarter and the year. Included in federal taxing authorities’ examination results was the confirmation of the company’s tax position for the deduction of losses realized on the disposition of a portion of the MicroSep business in 2004, Esco said.

Ladue, Mo.-based ESCO Technologies (NYSE: ESE), led by Chairman and Chief Executive Vic Richey, supplies special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. The company also provides engineered filtration products to the aviation, space and process markets.

[Pichel007]

Antwort auf Beitrag Nr.: 38.382.541 von witschka am 13.11.09 15:08:29

Danke, genau in Kurzform :-)
Manche verstehen unter >Forum das man nur reinkopiert .-)
Habe mir mal den >Chart angeschaut.
Esco steht bei einer Unterstützung.
Nächster US bei 18.-
Hhhhmmmm...ich steige ein, ich glaube daran.
Da kommt eine Gegenbewegung.
Vom Chart her hat Esco all die ganzen Jahre immer wieder eine Gegenbewegung hingelegt und jetzt bei der Smard Grid Sache, sollte die sogar noch besser ausfallen.
De Pichel
Und viel Erfolg

[R-BgO]

04.02.2010 22:00
ESCO Announces First Quarter Results


ST. LOUIS, Feb. 4 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today reported its operating results for the first fiscal quarter ended December 31, 2009.

EPS is presented from "Continuing Operations" and "Discontinued Operations". Fiscal 2009 discontinued operations include the results of Comtrak which was sold in March 2009.

First Quarter 2010 Highlights -- Net sales were $112.7 million; -- EPS was $0.02 per share; -- Gross margin percentage (sales, less cost of sales, divided into sales) was 40.2 percent; -- Cash flow from operating activities was $5.2 million; -- Net debt outstanding was $129.6 million at December 31, 2009 (2.0x leverage ratio); -- Entered orders were $138.4 million, (book-to-bill ratio of 1.23x); and -- Backlog increased $25.7 million (9 percent) to an all-time high of $325.1 million. Chairman's Commentary

Vic Richey, Chairman and Chief Executive Officer, commented, "I am pleased with our first quarter results, as we beat our original profit, cash flow and order expectations. We anticipated net earnings and EPS at break-even, but as a result of solid execution on several fronts, particularly within the Utility Solutions Group and Filtration segments, we exceeded our EBIT goals by nearly $2 million, with Doble being the biggest contributor.

"The most important highlight of the quarter was the strength of entered orders and the resulting record high backlog. Strong order activity was realized across all three operating segments, which reinforces that we are taking the appropriate actions when it comes to investing in new products, enhancing existing products and servicing our customers with innovative solutions.

"We made meaningful progress toward meeting our annual operating goals by capturing several large water AMI projects, as well as booking $26 million of initial AMI deployment orders with two significant international customers in Latin America. We continue to be enthused with our business prospects in Central and South America, and, as these international projects begin to deploy Aclara products, we expect they will be significant contributors to our multi-year growth outlook.

"While the government's Stimulus Program continues to cause delays of some expected orders and sales, we remain confident that once the money is distributed to the utilities we will benefit from this program over the balance of the year and well into the future.

"I am confident that given our new products, the strength and size of our domestic and international business prospects and acquisition opportunities, we are well-positioned for the future."

Entered Orders

Entered orders in the 2010 first quarter were $138.4 million, resulting in a book-to-bill ratio of 123 percent of sales.

First Quarter Order / Contract Highlights: -- Aclara RF AMI gas product orders with PG&E were $7.4 million during the first quarter, bringing total PG&E gas project orders to 3.7 million units and $207 million. -- Aclara PLS AMI orders were $38.4 million, including approximately $26 million of international business in Mexico and Colombia. -- Test segment orders were $37.1 million, including several large chamber orders. Significant Contracts / Orders Received Subsequent to December 31: -- Aclara RF AMI water contract signed with San Francisco Public Utilities Commission in November 2009, with a $13 million purchase order received in January 2010. -- Aclara RF AMI water contract with Toho Water Authority in Florida with orders under the contract expected to total $9 million. -- Aclara RF AMI water contract with City of Toronto with orders under the contract expected to total $34 million. -- Aclara RF AMI water orders for the New York City Water project worth $17.3 million. -- Test segment order for two large shielded enclosures worth over $14 million. Business Outlook

Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.

Dividend Payment

The next quarterly cash dividend of $0.08 per share will be paid on April 20 to stockholders of record on April 5.

FY 2010

Management's expectations for fiscal year 2010 remain consistent with the Business Outlook discussions noted in the Company's Earnings Release dated November 12, 2009.

As noted earlier, Management decided to defer providing specific 2010 guidance due to the significant size and uncertain timing of the numerous projects in which the Company is currently engaged. Combined with the impact of the global economic recovery, Management believes the specific financial impact and timing of these large projects will be more quantifiable in the future, and therefore believes it is prudent to defer providing specific EPS guidance at this time.

Chairman's Commentary - Wrap-Up

Mr. Richey concluded, "We continue to have a sizeable amount of specific, identifiable growth opportunities that should develop into orders and sales in varying degrees throughout fiscal 2010. I expect 2010 to be a year of significant activity as many of these projects materialize and firmly set us up for meaningful growth in sales and earnings over the next few years. I remain very optimistic about our current business prospects, both domestically and internationally. Our commitment remains the same, to achieve our long-term goal of increasing shareholder value."

Conference Call

The Company will host a conference call today, February 4, at 4 p.m. Central Time, to discuss the Company's first quarter fiscal 2010 operating results. A live audio webcast will be available on the Company's web site at http://www.escotechnologies.com/. Please access the web site at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the conference call will be available for seven days on the Company's web site noted above or by phone (dial 1-888-203-1112 and enter the pass code 8614240).

[R-BgO]

wer Englisch kann, soll Englisch lesen; wer nicht, soll den Google-Übersetzer verwenden, oder es sein lassen.

[Pichel007]

???
Gestern über 10% verloren???
Schade, ich habe mich eben von meinen Aktien getrennt, obwohl das Unternehmen in der Vergangenheit echt super Zahlen geliefert hat.
Aber ich weiß nicht warum der Kurs so stark eingebrochen ist und das obwohl Smart Grid Aktien gut laufen.
Esco geht da gegen den Trend !!!
Das im 1ten Quartal miese Zahlen erwartet werden ist ja fast zu erwarten,aber vielleicht ist da noch mehr.

Da habe ich zuwenig Wissen über dieses Unternehmen, aber ich behalte es auf meiner Watchlist.

Glaube es geht noch tiefer.

De Pichel

Ps. Super für die Informationen über Esco, aber für das Lesen eines Threads ist es leichter wenn man einen Link angibt. Da scrollt man sich ja einen Wolf.

[R-BgO]

04.05.2010 22:01
ESCO Announces Second Quarter Results; Reports Record Orders and Backlog


ST. LOUIS, May 4 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today reported its operating results for the second quarter ended March 31, 2010.

EPS is presented from "Continuing Operations" and "Discontinued Operations." Fiscal 2009 discontinued operations include the results of Comtrak which was sold in March 2009.

Second Quarter 2010 Highlights -- Net sales were $129.3 million ($242.0 million year-to-date); -- EPS was $0.22 per share ($0.24 per share year-to-date); -- Entered orders were $218.6 million ($357 million year-to-date), representing record quarterly order volume, and resulting in a book-to-bill ratio of 1.7x; and -- Backlog increased $89.3 million (27 percent) to an all-time high of $414.4 million. Chairman's Commentary

Vic Richey, Chairman and Chief Executive Officer, commented, "I am extremely pleased with our second quarter results, as we beat our profit, cash flow and order projections. With solid execution across all three segments, we exceeded our internal EBIT and EPS targets by more than 10 percent, and surpassed our order goals by nearly 17 percent, with Aclara being the biggest contributor to the upside.

"Following our significant first quarter orders, we realized a 58-percent increase in orders sequentially during the second quarter, resulting in year-to-date orders of $357 million. Clearly, entered orders and the record-high backlog are the highlights of our year-to-date performance. This order momentum was realized across the Company, with all three segments reflecting backlog growth since the start of the fiscal year.

"At the halfway point, I'm very comfortable with where we are in relation to meeting our full-year operating goals. My confidence in the balance of the fiscal year has been significantly bolstered by the level and mix of our shippable backlog.

"Looking forward, we remain confident in our ongoing business prospects across all segments of our business, both domestically and internationally. Our Aclara products, in particular, are well positioned on several international projects in Central America and South America as well as Asia. We expect these geographic areas to be significant contributors to our multi-year growth outlook."

Entered Orders

Entered orders in the 2010 second quarter were $218.6 million, resulting in a book-to-bill ratio of 169 percent of sales.

Second Quarter Order Highlights: -- Aclara RF AMI gas product orders with PG&E were $19.1 million, bringing total PG&E gas project orders to 4.1 million units and $226 million, representing the entire quantity of units expected in the original contract. -- Aclara RF AMI water orders for the New York City Water project were $22.4 million, bringing total NYC water orders to $57.4 million cumulative to date. -- Aclara RF AMI water orders with San Francisco Public Utilities were $13 million. -- Aclara PLS AMI orders were $55.2 million, including $36.7 million from COOPs, $11.0 million from international customers and $7.5 million from IOUs. -- Test segment orders were $52.2 million, including an order for two large RF shielded enclosures worth over $14 million. Significant Contracts Signed (Not in Backlog): -- Aclara RF AMI water contract with Toho Water Authority in Florida, with orders under the contract expected to total $9 million. -- Aclara RF AMI water contract with the City of Toronto, with orders under the contract expected to total $34 million. Business Outlook

Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.

Dividend Payment

The next quarterly cash dividend of $0.08 per share will be paid on July 20 to stockholders of record on July 6.

FY 2010

Management's expectations for fiscal year 2010 remain consistent with the Business Outlook discussions noted in the Company's Earnings Release dated November 12, 2009.

As noted earlier, Management decided to defer providing specific 2010 guidance due to the significant size and uncertain timing of the numerous projects in which the Company is currently engaged. Combined with the impact of the global economic recovery, Management believes the specific financial impact and timing of these large projects will be more quantifiable in the future, and therefore believes it is prudent to defer providing specific EPS guidance at this time.

Chairman's Commentary - Wrap-Up

Mr. Richey concluded, "We continue to have a sizeable amount of specific, identifiable growth opportunities that we expect to develop into orders and sales over time. I expect the balance of 2010 to reflect significant activity as many of these projects materialize and firmly set us up for meaningful growth in sales and earnings over the next few years. I remain very optimistic about our current business prospects, both domestically and internationally, as well as our new product "roadmap." Our commitment remains the same - to achieve our long-term goal of increasing shareholder value."

Conference Call

The Company will host a conference call today, May 4, at 4 p.m. Central Time, to discuss the Company's second quarter fiscal 2010 operating results. A live audio webcast will be available on the Company's web site at http://www.escotechnologies.com/. Please access the web site at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the conference call will be available for seven days on the Company's web site noted above or by phone (dial 1-888-203-1112 and enter the pass code 1248444).

Forward-Looking Statements

[R-BgO]

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http://www.finanznachrichten.de/nachrichten-2010-07/17487803…

[R-BgO]

ST. LOUIS, Sept. 7 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today announced that it has acquired Xtensible Solutions, Inc. ("Xtensible"), located in Greenwood Village, Colorado. Xtensible is the thought leader in Enterprise Information Management Strategy, and is a leading provider of semantic-based information management and integration solutions to the utility industry worldwide. Such strategy and solutions are critical for utilities to build sustainable and interoperable Smart Grid implementations. Terms of the deal were not disclosed.

Xtensible will be included as part of ESCO's Utility Solutions Group and will be closely aligned with Aclara Software in providing best-in-class software services and products. Xtensible is expected to leverage Aclara's operational infrastructure as it continues its rapid growth, thereby positioning the Company to efficiently expand its service offerings.

Karen Flathers, General Manager of Aclara Software, commented, "We are very excited to add such a well-respected Smart Grid solution provider to our portfolio, and we are equally pleased that the outstanding management team, led by Greg Robinson, will continue to direct the company's day-to-day operations. Xtensible's expertise and knowledge of the various Industry Standards driving today's Smart Grid represent a significant resource as we develop new software platforms and applications for our utility customers."

Greg Robinson, President of Xtensible, added, "Becoming a part of ESCO certainly creates an exciting growth opportunity for Xtensible, as we see many opportunities for the companies to work together in serving our common customer base. Additionally, I'm pleased to see that ESCO shares our core values, including a strong focus on customers and employees."

Vic Richey, ESCO Chairman and Chief Executive Officer, commented, "This acquisition not only enhances our portfolio of utility-based services, products and solutions, but it also allows us to broaden our industry-specific expertise, particularly in the area of Standards Compliance, so that we may better serve our customers."

[R-BgO]

ESCO Tech Crushes Estimates
February 03, 2011 | Comments: 0

ESCO Technologies Inc. (ESE - Snapshot Report) reported fiscal first quarter diluted earnings per share of 40 cents, crushing Zacks Consensus Estimate of 20 cents. The result was also up considerably from last year's 2 cents per share.

Quarterly Performance

Net sales of $159.9 million were way ahead of the Zacks Consensus Estimate of $141.0 million and compared favorably with last year’s $112.7 million.

On a segment basis, revenues from the Utilities Solution Group (USG) increased 50.7% from last year to $92.2 million, driven by Aclara's strong COOP deliveries and higher international sales. Revenues from Test and Filtration increased 18.5% and 45.7% from last year to $32.0 million and $35.7 million, respectively.

Gross profit increased 37.7% to $62.4 million. However, gross margin decreased 1.2 percentage points to 39.0%.

During the quarter, the company entered orders worth $186.0 million, an increase of 35.0%. As of December 31, 2010, firm order backlog was $387.0 million. The increase in backlog was primarily driven by the considerable orders received in Test and USG, both domestically and internationally.

During the quarter, net cash provided by operating activities increased to $19 million, compared to $5 million in the year ago quarter.

Dividend

The company announced a quarterly cash dividend of 8 cents per share, which will be paid on April 20, 2011 to stockholders of record on April 6, 2011.

Guidance

Management expects sales and earnings per share for fiscal year 2011 to increase between 10% and 15%. For the fiscal year 2011, management expects the effective tax rate to be approximately 36.0%. The company expects Aclara to sign a definitive agreement for the SoCalGas AMI project during fiscal 2011.

Conclusion

Analyst estimates have remained unchanged in the run up to the earnings release. We note that ESCO Technologies has consistently exceeded estimates over the past year or so. The average surprise in the preceding 4 quarters is a positive 11.63%, and another positive surprise was therefore expected.

The company faces stiff competition from CLARCOR Inc. (CLC - Snapshot Report) and Pall Corporation (PLL - Analyst Report).

[R-BgO]

ESCO Announces Second Quarter 2012 Results

ST. LOUIS, May 9, 2012 /PRNewswire/ -- ESCO Technologies Inc. (NYSE: ESE) today reported its operating results for the second quarter ended March 31, 2012.


Second Quarter 2012 Highlights

Entered orders were $185 million, resulting in a book-to-bill of 1.07x, and a firm order backlog of $405 million at March 31, 2012. Backlog increased $11 million in the second quarter ($62 million year-to-date);

Segment book-to-bill ratios were: Utility Solutions Group (USG) 1.31x, Filtration 1.08x, and Test 0.69x (timing of large chamber orders throughout the year);

USG orders were $98 million, comprised of: $46 million of additional COOPs, $11million of PLS IOUs, $6 million of PLS International, $6 million of RF Water, $6million of Software, and $24 million at Doble;

Filtration net sales were $49 million, an increase of $9 million, or 23 percent over Q2 2011 net sales of $40 million;

Test net sales were $50 million, an increase of $8 million, or 20 percent over Q2 2011 net sales of $42 million;

USG net sales were $74 million, a decrease of $11 million, or 12 percent, compared to Q2 2011 net sales of $85 million;

Within USG, Aclara's net sales decreased $10 million compared to Q2 2011 due to lower volumes at PG&E gas, New York City water, and CFE in Mexico, partially offset by an increase of $8 million, or 35 percent, in COOP sales;
Also within USG, Doble Q2 sales were relatively consistent at $25 million in both years;

Consolidated net sales were $174 million, an increase of $7 million, or 4 percent, compared to $167 million in Q2 2011 (segment specifics detailed above);

SG&A increased $4 million in Q2 2012 compared to Q2 2011 due to the Test business acquisition (EMV-Germany) included in Q2 2012; increased new product development (NPD) costs in Filtration for additional Space product applications and additional content on Airbus platforms; start-up costs incurred for the SoCalGas AMI project, additional NPD costs related to new Smart Grid applications and advanced networking capabilities at Aclara; and additional sales, marketing and engineering costs related to new products and new global market expansion initiatives at Doble;

The Q2 2012 effective tax rate was higher than previously expected due to a non-recurring, non-cash charge resulting from the write-down of a purchase accounting deferred tax asset. This charge increased the effective tax rate, which impacted EPS negatively by $0.03 per share; and Q2 2012 EPS was $0.38 per share ($0.41 per share when adjusted for the non-recurring tax charge), compared to $0.49 in Q2 2011.


Chairman's Commentary
Vic Richey, Chairman and Chief Executive Officer, commented, "Second quarter sales and EBIT were generally consistent with our previous expectations. EPS was three cents lower than our earlier internal expectations due to the unexpected non-cash tax charge recorded in the quarter.

"The most satisfying aspect at the mid-point of the year continues to be the significant volume of entered orders and the resulting $62 million increase in backlog since the start of the year. The strength of the COOP business as part of our core AMI product offering continues to exceed expectations. We've increased our COOP bookings 35 percent to over $77 million so far this year, compared to $57 million for the same period last year. And I'll remind you that we still have over $50 million in bookings to date related to the SoCalGas project.

"With the PG&E gas, New York City water, and CFE (Mexico) projects winding down throughout 2011, coupled with the incremental SG&A investments we are making to grow the business longer term, we fully expected second quarter EPS to be lower than the prior year.

"Recently, we completed our Doble and Aclara Annual Client Conferences, and from these meetings, I'll share some insight into our USG business and how our customers view us as highly regarded solution partners. At the Doble Conference in Boston, over 1,200 customers attended the week-long meetings and were able to see, touch and fully understand the capabilities of what we have developed in the way of new products, services and solutions. At the Aclara Conference in Nashville, over 700 customers attended the sessions and came away very excited about where we are today, and where we are heading with our proven AMI technology and software offerings.

"Our USG customer interest is exceptionally high and the strength and visibility of our order pipeline are the best they have been in many years. Our international business prospects remain solid, and our water and gas AMI businesses continue to see increased activity, which bodes well for future growth in these areas.

"Regarding the SoCalGas project, we are on track with all project deliverables. We were very pleased to see SoCal's recent announcement indicating it had received the "green light" by the California Public Utility Commission (PUC) to go ahead with the AMI project. The PUC affirmed its earlier approval of the project following a request for review from the Division of Ratepayer Advocates and The Utility Reform Network. The PUC's follow-up endorsement is another positive step in the AMI deployment process.

"In April, we completed our Strategic Planning Conferences across all three business segments, and after reviewing our short-term and longer-term outlook in Filtration, Test and USG, I came away excited about our prospects, and therefore, I'm confident in reaffirming ourgrowth expectations across the Company."


Business Outlook
Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.


Dividend Payment
The next quarterly cash dividend of $0.08 per share will be paid on July 20 to stockholders of record on July 6.


Fiscal Years 2012 / 2013
Consistent with the Outlook communicated in the November 8, 2011 and reaffirmed in the February 7, 2012 earnings release, Management's expectations for fiscal years 2012 and 2013 remain unchanged.

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ESCO Announces Fiscal Year 2012 Results and Additional SoCalGas Orders

ST. LOUIS, Nov. 12, 2012 /PRNewswire/ -- ESCO Technologies Inc. (NYSE: ESE) today reported its operating results for the fourth quarter and fiscal year ended September 30, 2012.

Summary Highlights

Q4 2012 EPS of $0.65 per share increased $0.08 per share, or 14 percent compared to EPS of $0.57 in Q4 2011. Fiscal 2012 EPS was $1.73 compared to $1.95 in 2011;
During Q4 2012, the Company recorded $11 million in orders from Southern California Gas Company (SoCalGas), for total orders of $75 million during 2012;
Subsequent to September 30, 2012, an additional $41 million in orders were received from SoCalGas, resulting in total project orders of $135 million received-to-date;
Consolidated orders were $752 million (record high) in 2012, resulting in a book-to-bill ratio of 1.1x, and firm backlog of $407 million at September 30, 2012. Backlog increased $64 million, or 19 percent, in 2012;
Segment book-to-bill ratios for 2012 were: Utility Solutions Group (USG) 1.20x, Filtration 1.05x, and Test 0.96x;
USG orders were $380 million in 2012, comprised of: $101 million of COOP's, $75 million of SoCalGas, $19 million of PLS IOUs, $16 million of PLS International, $40 million of RF Water & Gas, $20 million for Software, and $109 million at Doble;
Filtration Q4 2012 sales were $52 million, an increase of $3 million, or 7 percent over Q4 2011 sales of $49 million. Filtration sales in 2012 were $195 million, an increase of $27 million, or 16 percent over 2011, with all four operating units recording significant increases in 2012;
Test Q4 2012 sales were $44 million compared to $57 million in Q4 2011, and 2012 sales were $176 million, consistent with $177 million in 2011;
USG Q4 2012 sales were $96 million, an increase of $10 million, or 12 percent over Q4 2011 sales of $86 million. Fiscal 2012 sales were $318 million compared to $350 million in 2011;
Within USG, Aclara's 2012 sales decreased due to lower volumes at PG&E gas, New York City water, and CFE in Mexico. Partially offsetting these decreases, 2012 COOP sales increased $19 million, or 20 percent, to $112 million compared to $93 million in 2011;
Also within USG, Doble's Q4 sales increased $2 million, or 9 percent to $27 million, and for 2012, increased 3 percent to $105 million;
Consolidated Q4 2012 sales were $192 million compared to $191 million in Q4 2011 (segment specifics detailed above);
SG&A decreased to $43 million in Q4 2012 from $48 million in Q4 2011 primarily due to significantly lower costs in USG as certain new product development (NPD) projects were completed and the related products were introduced to the market, in addition to lower costs in Test as certain cost savings initiatives were realized;
Other expenses (income) in Q4 of 2012 was significantly lower than prior year as the 2011 amount reflects a $6.6 million gain resulting from the revaluation of the earn-out liability related to a previous acquisition; and,
The 36 percent effective tax rate in Q4 2012 was consistent with previous expectations. The Q4 2011 rate was lower than historical rates due to the realization of several tax benefits during the period.
Dividend Payment

The next quarterly cash dividend of $0.08 per share will be paid on January 18, 2013 to stockholders of record on January 4, 2013.

Share Repurchase Program

During the fourth quarter ended September 30, 2012, the Company spent approximately $5.4 million to repurchase approximately 150,000 shares. Subsequent to fiscal year end, the Company purchased additional shares bringing the total amounts repurchased under this authorization to approximately $15 million and 420,000 shares.

Business Outlook

Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.

Test Segment Restructuring

As described in the Company's October 9, 2012 release, Management announced the restructuring of the Test segment, which included the closure of the Glendale Heights, Illinois facility. Management previously announced it was analyzing the operating cost structure across the Company to see where improvements in operating efficiency could be achieved. This process was undertaken to help protect and expand future operating margins, as well as to supplement future EPS growth.

The Test segment's non-recurring restructuring costs are expected to be approximately $3 million and will be incurred over the next six months. As a result of these actions, the partial year cost savings in 2013 will be approximately $1 million (excluding restructuring costs), and once completed, are expected to yield recurring annual savings of approximately $3 million in 2014 and beyond. The net impact of this restructuring is expected to increase Test segment EBIT margins above 13 percent beginning in 2014.

While further restructuring activities of this magnitude are not currently expected, Management continues to review all of its other operations to ensure that the respective businesses are properly sized to deliver the operating results required to meet the earnings commitments previously communicated.

Fiscal Year 2013

Included in the Company's October 9, 2012 release, Management provided its detailed revenue build for 2013 to allow investors to better understand the growth and related risks. Given some of the smaller project slips during 2012, Management is taking a more conservative approach in forecasting revenue related to these customers.

Management continues to see strong growth in 2013 across the business. Based on projected revenue growth of approximately 10 percent, Management expects 2013 operational EPS in the range of $2.30 to $2.50 per share, which excludes estimated Test segment non-recurring restructuring charges. The 2013 effective tax rate is expected to be 35 percent.

The revenue growth for 2013 provided earlier is reiterated here in summary fashion:

Filtration is expected to grow $20 million (led by VACCO) with related EBIT margins consistent with 2012;
Test is expected to grow low-to-mid- single digits with a significant increase in operational EBIT, both in dollars and as a percent of sales;
Doble is expected to grow approximately 10 percent with a margin contribution similar to 2012 driven by new products and international expansion; and,
Aclara expects approximately $50 million of sales growth primarily driven by the SoCalGas ramp that is expected to provide approximately $40 million of this increase.
On a quarterly basis, Management expects 2013 revenues and EPS to be more second half weighted, with first quarter EPS being less than $0.10 per share. First quarter EPS is lower than normal because it reflects a nominal amount of SoCalGas revenue against the full operating infrastructure in place to support the project as it begins large scale deployment in January 2013. Additionally, first quarter 2013 is expected to be lower than first quarter 2012 as fewer electric COOP shipments are expected in the current quarter.

The expected sales and EPS growth in the second half of 2013 will be supported by SoCalGas being in full deployment mode, Test having completed its facility restructuring delivering higher margins, higher electric COOP shipments (timing during the year), and the water business delivering at higher levels than in the first half.

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Antwort auf Beitrag Nr.: 50.370.456 von R-BgO am 10.08.15 22:01:32

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Antwort auf Beitrag Nr.: 51.108.150 von R-BgO am 17.11.15 12:39:58

ESCO Announces Acquisition of Aerospace Supplier

ST. LOUIS, November 7, 2016 -


ESCO Technologies Inc. (NYSE: ESE) today announced that it has acquired Mayday Manufacturing Co. (Mayday) and its affiliate, Hi-Tech Metals, Inc. (Hi-Tech). Mayday and Hi-Tech (collectively, the "Business") are industry leading aerospace suppliers operating together in a state-of-the-art, expandable 130,000 square foot facility in Denton, Texas.

The Business, which will become part of ESCO's Filtration operating segment, has annualized sales of approximately $40 million and operating margins consistent with the segment in total. The terms of the transaction were not disclosed.

Mayday is a market leading manufacturer of mission-critical bushings, pins, sleeves and precise-tolerance machined components for landing gear, rotor heads, engine mounts, flight controls, and actuation systems for the aerospace and defense industry.

Hi-Tech is a full-service metal processor offering a vast portfolio of unique and challenging processing services to aerospace OEM's and Tier 1 suppliers. Hi-Tech's capabilities include anodizing, cadmium and zinc-nickel plating, organic coatings, non-destructive testing, and heat treatment.

The Business provides a unique value proposition to its aerospace and defense customers by serving as a vertically-integrated supplier of close-tolerance machined parts and metal processing services. Coupled with a high-mix, low volume production profile demanding operational excellence, the Business has earned an expansive list of compliance certifications and approvals from the majority of the world's leading commercial and defense OEM's and their key suppliers. As a result, the Business has a global customer base with long-term agreements (LTA's) in place covering a wide variety of aerospace platforms with no major customer or airframe concentrations.

Sam Chapetta, Filtration Group President, commented, "We are continually looking to expand our product offering and to gain more content on our existing aerospace and defense platforms, and by adding the well-proven capabilities of Mayday to our existing product portfolio, we've created an additional avenue for meaningful growth across our existing customer base. Mayday and Hi-Tech produce a wide range of niche products with precise tolerances and difficult to manufacture components, all done with outstanding results. This level of manufacturing excellence has resulted in the Business consistently being recognized as a preferred supplier which provides a proven path for continued growth with current and future customers."

Vic Richey, Chairman and Chief Executive Officer, commented, "Expanding our content across the global aerospace and defense market is an integral part of our strategy, and I'm confident this acquisition will result in additional growth opportunities for us. Additionally, these unique technologies create a significant opportunity for us to further expand our aerospace related offerings into a broader platform of new product development areas. I'm excited to welcome the outstanding and dedicated employees of Mayday and Hi-Tech to our ESCO team."

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Antwort auf Beitrag Nr.: 53.663.154 von R-BgO am 10.11.16 11:42:24

ESCO Acquires NRG Systems
May 12, 2017

http://www.renewableenergyworld.com/articles/2017/05/renewab…


ESCO Technologies Inc. has acquired NRG Systems, Inc. (NRG), doing business as Renewable NRG Systems, located in Hinesburg, Vt. NRG, founded in 1982, provides design and manufacture of decision support tools for the renewable energy industry, primarily wind.

NRG serves electric utilities, wind turbine manufacturers, renewable energy developers, research institutes, and government agencies in more than 150 countries.

The business, which will join Doble Engineering as part of ESCO’s Utilities Solutions Group (USG) operating segment, has annualized sales of approximately $45 million (with nearly half of its sales coming from international markets) and operating margins in the mid-teens. The terms of the transaction were not disclosed.

NRG’s expertise spans both resource assessment products and wind plant optimization equipment such as turbine control sensors, Lidar, and condition based monitoring systems. The products are used during both the pre-development stage of a project and the operational stage when project owners need to optimize the performance of their assets.

The company’s products and applications are targeted at the following market segments:

Wind Resource Assessment which is the systematic collection of wind data at potential wind farm sites to allow wind farm developers to estimate the future power output of a variety of wind farm sizes and turbine arrangements. Customers use this information to design the layout of the wind farm, secure project financing, and make other critical decisions.

Wind Plant Optimization enables wind farm operators and owners to maximize their annual energy production, reduce their operating and maintenance (O&M) costs, increase system reliability, and drive down the levelized cost of energy.

Solar Resource Assessment is the systematic collection of solar data at a prospective solar energy production site to develop an accurate estimate of that facility’s annual energy production potential.

Solar Monitoring allows solar project operators to track electrical output precisely in order to trigger real-time maintenance and build long-term preventative maintenance programs.

Bryan Sayler, President of Doble, commented, “The addition of NRG offers Doble the opportunity to access the growing renewable energy market, expand our geographic presence, and provide our existing customers with proven tools to optimize their renewable energy generation assets.”

Justin Wheating, President of NRG, commented, “Becoming part of ESCO further strengthens our ability to grow through the continued investment in new products and the expansion of our existing technologies into new markets. We are excited about our future and pleased to join a company that shares our core values and demonstrates its strong focus on customers and employees.”

Vic Richey, Chairman and Chief Executive Officer, commented, “Adding NRG to our existing utility segment introduces a unique and exciting growth opportunity for ESCO. NRG’s capabilities are a great complement to Doble’s product and solution portfolio providing an immediate entry point into a large and growing market. Clean, renewable and sustainable energy is a $300 billion-plus per year global industry where approximately 600 gigawatts (GW) of new wind capacity and 700 gigawatts (GW) of solar PV capacity is expected to be added over the next 10 years. NRG is clearly a market leader with an exceptional brand, reputation, and strong management team, and I’m excited to welcome the outstanding and dedicated employees of NRG to our team.”

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