This Day On The Street
Continue to site
ADVERTISEMENT
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

Universal Power Group Reports Improved 2010 Earnings

Universal Power Group, Inc. (NYSE Amex: UPG), a Texas-based distributor and supplier of batteries and related power accessories and a third-party logistics provider, today announced improved earnings for the fourth quarter and full year ended Dec. 31, 2010.

For the fourth quarter, UPG reported net income of $634,000, or $0.13 per share, on net sales of $24.5 million, compared with net income of $387,000, or $0.08 per share, on net sales of $28.0 million in the fourth quarter of 2009. For the year, UPG reported net income of $2.9 million, or $0.58 per share, on net sales of $107.3 million, versus a net loss of $135,000, or ($0.03) per share, on net sales of $111.2 million in 2009.

“Overall, 2010 was a good year of progress as our continued efforts to grow UPG’s core business over the past two years began to bear fruit,” stated UPG’s President and Chief Executive Officer Ian Edmonds. “Over the past year, UPG has achieved a number of important milestones, from new product introductions and strategic alliances to expansion into new geographic markets. We stayed true to our strategic plan last year, and our combined achievements set the stage for broad-based revenue and earnings growth in the coming years.”

Fourth Quarter

Net sales for the fourth quarter fell 12.5 percent to $24.5 million, from $28.0 million in the fourth quarter of 2009. Net sales of batteries and related power accessories to customers excluding ADT Security Services (formerly Broadview Security) and its authorized dealers grew 20.9 percent to $19.7 million in the fourth quarter of 2010, compared to $16.3 million for the fourth quarter of 2009. Net sales to ADT Security Services and its authorized dealers in the fourth quarter of 2010 were $4.8 million, a decrease of 59.0 percent from $11.7 million in the same quarter of 2009. Net sales to ADT Security Services and its authorized dealers accounted for 19.2 percent of net sales in the fourth quarter of 2010, compared to 41.8 percent of net sales in the fourth quarter of 2009. The shift in sales mix was the result of UPG’s continued focus on growing its battery and related power accessories business, while sales to ADT Security Services and its authorized dealers decreased during the integration of the acquisition of Broadview Security. The Company continues to work closely with ADT Security Services and its authorized dealers to maintain the level of quality and service they have come to expect from UPG.

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs