LMI Aerospace Announces Second Quarter 2010 Results
Outlook for 2010 and 2011
The company also revised guidance for 2010. On a consolidated basis, the company now expects revenue to range between $233 million and $242 million. Gross profit should be between 23.1 percent and 24.3 percent with SG&A ranging from $31.3 million to $32.2 million. Net interest expense is expected to be between $650,000 and $700,000 for the year and the effective tax rate is expected to continue at 36.5 percent. Capital expenditures are planned to be approximately $8 million. Depreciation, amortization and non-cash stock compensation expense are expected to be between $9.2 million and $9.4 million. The expectations for each segment are as follows:
- Net sales of between $159 million and $164 million
- Gross profit of between 26.0 percent and 27.0 percent
- SG&A ranging from $24.5 million to $25.0 million
- Net sales of between $74 million and $78 million
- Gross profit of between 17.0 percent and 18.5 percent
- SG&A ranging between $6.8 million and $7.2 million
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