Proactiveinvestors Australia - Industrial Suppliers RSS feed Proactiveinvestors Australia - Industrial Suppliers feed en Sun, 21 Jan 2018 17:06:57 +1100 Genera CMS Energy Assets Group shareholders plan to reject takeover offer Wed, 11 May 2016 22:36:00 +1000 WEX launches fleet management billing app Tue, 12 Apr 2016 23:13:00 +1000 Affymetrix buys time on takeover controversy Thu, 24 Mar 2016 07:09:00 +1100 AK Steel provides better than expected Q3 outlook AK Steel Holding Company (NYSE:AKS) saw shares leap in after hours trading after the steel manufacturer issued an earnings outlook for the third quarter, which beat expectations.

The group expects shipments of around 1.86mln tons in the three months, a 3% increase compared to the second quarter of 2015, mainly because of the increased shipments to the automotive market.

It expects a net loss of $0.02 to $0.07 per diluted share for the period, which is an improvement on the net loss of $0.36 per diluted share in the preceding quarter.

The average selling price is expected to be approximately $910 per ton for the third quarter of 2015, about 2% lower than the second quarter of 2015, due mainly to lower carbon steel spot market pricing, which the company believes is principally driven by high levels of unfairly traded foreign steel imports.

Shares rose 5.36% in after hours trading to US$2.95 a share.

Sat, 19 Sep 2015 01:25:00 +1000
Applied Industrial Technologies boss not satisfied despite record results Despite reporting record sales and earnings per share for 2015, Neil A. Schrimsher, chief executive of component distributor Applied Industrial Technologies (NYSE:AIT), said the group was "not satisfied". 

"Our financials reflect the continued impact of reduced demand in certain industrial end markets as well as headwinds from foreign currency translation," he said.

"We have taken action to reduce our operating expenses, and we will continue to be focused on effective cost controls and operating discipline in this economic environment."

The company boss said he expected the current economic conditions to continue through the first half of fiscal 2016 and for the full year is forecasting a sales change in the range of negative 2% to up 1% but does see growth opportunities.

"We expect earnings per share for the full fiscal year to be in the range of $2.80 to $3.05 per share," he added.

"We are pleased with the recent acquisition of Atlantic Fasteners – a nice addition that builds on our Maintenance Supplies & Solutions platform.

"We will be active with acquisitions throughout the fiscal year, and we are confident that Applied is well-positioned to serve our customers and generate shareholder value."

Net income for the quarter to June 30 was US$28mln, compared with US$29.7mln in the same period last year, while net sales for the quarter came in at $677.5 million - 3.5% higher than the same quarter a year ago.

For the year, sales were US$2.75 bn, compared to US$2.46 billion last year, with acquisitions accounting for 11.4%. Net income was US$115.5 million  compared to  US$112.8 million in the previous year.

Wed, 12 Aug 2015 23:36:00 +1000