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

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

Beginning with the Transportation and Industrial segment, we called that during our 2010 year-end earnings call. We said that our fourth quarter results were indicative of full utilization and with that, the $90 million to $95 million quarterly revenue range we've experienced over the last several quarters is the maximum we could expect in any given quarter, until our new capacity investments in China and Thailand ramp up in 2012.

Obviously, our fourth quarter 2011 results were in that range, and were comparable to the prior year period and also to the third quarter 2011. Before moving on, I would note that the battery production disruption in China began to improve in the quarter, and we believe it will largely be behind us by the end of Q1. For the year, segment operating income was 26% of sales compared to 25% a year ago. This increase was driven by operating leverage from higher sales, which was offset somewhat by the cost associated with our capacity investments in Asia.

In the Electronics and EDVs segment, lithium separator sales in the quarter reflect strong demand in Electric Drive Vehicles, offset by some weakness in consumer electronics application. For the full year, segment operating income was 45% of sales compared to 39% in 2010. The substantial operating leverage in this business was somewhat offset by costs associated with our growth investment. Electric Drive Vehicles represented 40% of our sales in 2011.

In the fourth quarter, our EDV sales exceeded our consumer electronics sales for the first time in our history. This compares to virtually no EDV sales in 2009, and approximately 20% in 2010. Moving on now to the Separations Media segment. For the quarter, sales were up 7% in the healthcare business, with solid demand in hemodialysis and blood oxygenation applications. For the year, healthcare sales were up 12%, also driven by the same applications as well as the effect of foreign currency translation.

4 of 5

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

DOW 17,725.94 +106.43 0.60%
S&P 500 2,072.02 +8.91 0.43%
NASDAQ 5,001.6190 +14.7520 0.30%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs