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

Universal Power Group Reports First Quarter 2011 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 results for the first quarter ended March 31, 2011.

For the first quarter, UPG reported net income of $402,677, or $0.08 per share, on net sales of $21.6 million, compared with net income of $505,709, or $0.10 per share, on net sales of $26.0 million in the first quarter of 2010.

“We made a number of significant accomplishments in the first quarter of 2011 to drive UPG’s future growth and profitability,” stated Ian Edmonds, UPG’s President and Chief Executive Officer. “Sales to customers other than ADT showed solid growth, and our gross margins continued to improve over the prior year, even as our operating expenses remained flat. In April, we completed our acquisition of Progressive Technologies, Inc. (PTI), which we believe will further support our long-term growth initiatives.”

First Quarter Results

Net sales for the first quarter fell 17.1 percent, to $21.6 million, from $26.0 million in the first quarter of 2010. Net sales of batteries and related power accessories to customers excluding ADT Security Services (formerly Broadview Security) and its authorized dealers grew 12.4 percent, to $16.8 million in the first quarter of 2011, compared to $15.0 million for the first quarter of 2010. Net sales to ADT Security Services and its authorized dealers in the first quarter of 2011 were $4.7 million, a decrease of 57.1 percent from $11.0 million in the same quarter of 2010. This decline was due to the integration of Broadview Security, which was acquired by Tyco International in May 2010, and merged into ADT Security Services. 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, while supporting their current business. In addition, UPG remains focused on growing sales of batteries and related power accessories.

1 of 4

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 $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs