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

Magnetek Announces Second Quarter And Transition Period 2011 Results

Magnetek, Inc. (NASDAQ: MAG):

Q2 Transition Period 2011 Highlights
  • Net sales of $29.5 million increased 13% over prior year Q2 sales.
  • Income from continuing operations increased 72% to nearly $2.4 million, or $.74 per share, compared to prior year Q2 income from continuing operations of $1.4 million, or $.44 per share.
  • Cash balances increased by $6.7 million during the second quarter to $20.9 million as of January 1, 2012.

Six Month Transition Period 2011 Highlights
  • Transition period 2011 sales increased 15% to $58.7 million
  • Transition period 2011 income from continuing operations more than doubled to $1.35 per share compared to prior year income of $.65 per share from continuing operations.
  • Cash flow prior to pension contributions was $10.2 million in transition period 2011.

Magnetek, Inc. (“Magnetek” or “the Company”, NASDAQ: MAG) today reported the results of its transition period 2011 second and final quarter and its six month transition period, ended January 1, 2012 (see below for a definition of transition period 2011).

Second Quarter Results

In the second and final quarter of transition period 2011, Magnetek recorded revenue of $29.5 million, a 13% increase from the prior year second quarter and a 1% sequential increase from the first quarter of transition period 2011. The increase in sales from the prior year quarter reflects sales growth of products for material handling and mining markets. As a result of the increased sales volume and a favorable shift in the Company’s sales mix, second quarter earnings per share from continuing operations increased $.30, or 68%, to $.74 per share compared to prior year second quarter earnings from continuing operations of $.44 per share.

1 of 8

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


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs