This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Polypore's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: PPO

Lynn Amos

Thanks Bob. As we reported yesterday, fourth quarter sales were $191 million, a 13% increase from the prior year period. For the year, sales were up 24% to $763.1 million. Adjusted EPS for the quarter was up 35% to $0.58 per diluted share and up 71% for the year to $2.34 per diluted share. Regarding other key financial measures, segment operating income was up 17% to $48.5 million for the quarter and for the year was up 46% to $199.4 million.

Adjusted EBITDA, which is a key financial measure in our credit agreement, was up 16% to $62.1 million for the quarter and up 36% to $250.8 million for the year. Interest expense was $2.8 million lower in the quarter than a year ago and $12.3 million less for the full year which reflects the refinancing and reduction of debt we achieved in the fourth quarter of 2010. CapEx was approximately $45 million in the quarter and $156 million for the full year.

All of our projects remain on schedule. As expected, with several capacity expansions underway, we experienced additional costs associated with these investments: mainly utilities, employee hiring and training, and qualifying new equipment. Since many of these costs are already imbedded in our financials, we'll begin to experience the benefit from these expansions and the substantial operating leverage associated with growing sales as capacity ramps up.

Now, moving on the segment results. As we have already informed you, with the significant growth in the lithium battery separators, our intention is to be more transparent about the progress and magnitude of this growth opportunity. As a result, we separated the Energy Storage business into two reporting segments, Transportation and Industrial, which of course is lead-acid battery separators and electronics and EDVs, which is the lithium battery separator business.

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs