This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Altra Holdings Reports 17% Year-Over-Year Sales Increase In Fourth Quarter 2010

BRAINTREE, Mass., Feb. 28, 2011 (GLOBE NEWSWIRE) -- Altra Holdings, Inc. (Nasdaq:AIMC), a leading global supplier of clutch brakes, couplings, gearing, belted drives and other power transmission components, today announced unaudited financial results for the fourth quarter ended December 31, 2010.

Financial Highlights
  • Fourth-quarter net sales increased 17% to $130.5 million compared with the prior-year quarter. Full-year 2010 net sales increased 15% to $520.2 million.  
  • Fourth-quarter net income per diluted share was $0.20 compared with a loss per share of $0.10 in the prior-year period. Non-GAAP adjusted earnings per diluted share increased 71% to $0.24 for the fourth quarter of 2010.*    
  • For full year 2010, the Company reported net income of $0.92 per diluted share compared with a net loss of $0.09 per share in 2009. Non-GAAP adjusted earnings per diluted share increased 209% to $1.02 in 2010.   
  • Fourth-quarter income from operations increased 130 basis points to 9.4% of sales from the fourth quarter of 2009. The increase was primarily due to lower restructuring charges.    
  • The Company's cash balance improved 41% year-over-year and was $72.7 million at the end of the year.  
  • Altra forecasts strong revenue and earnings per share growth in 2011 based on continued early- and late-cycle demand strength and strong earnings leverage. 

In a separate news release earlier today, Altra announced that it has signed a definitive agreement to acquire substantially all of the assets and liabilities of Danfoss Bauer GmbH ("Bauer") relating to its gearmotor business for cash consideration of 43.1 million Euros. Bauer is a leading European manufacturer of high-quality gearmotors, offering engineered solutions to a variety of industries, including material handling, metals, food processing and energy. The Bauer gearmotor product line will be highly complementary to Altra's existing gearing products. The acquisition is anticipated to be accretive, excluding any one-time or acquisitions costs, to Altra's earnings in 2011. 

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $249.50 0.72%
YHOO $36.59 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs