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
TheStreet Open House

Chase Corporation Announces Second Quarter Results

Stocks in this article: CCF

Chase Corporation (NYSE Amex: CCF) today reported revenues of $29.4 million for the quarter ended February 29, 2012. This represents an increase of 11.8% compared to $26.3 million in the second quarter of last year. Net income of $1.2 million decreased $0.22 million from $1.42 million in the prior year period. Earnings per diluted share of $0.13 in the second quarter of fiscal 2012 fell short of the $0.16 per share in fiscal 2011.

For the six months ended February 29, 2012 revenues increased $4.1 million or 7.1% to $61.6 million compared to $57.5 million in the prior year period. Net income decreased $0.83 million or 19.1% to $3.52 million or $0.39 per share in the year to date period from $4.35 million or $0.48 per share in fiscal 2011.

Peter R. Chase, Chairman and Chief Executive Officer commented: “The second quarter was fairly typical in terms of seasonality limiting construction sales and, as in the first quarter, the sales mix continued to favor products with traditionally lower margins. Our consolidation program continues to progress with the Winnersh, UK relocation completed and Randolph tape products moving to Oxford during the balance of this calendar year. As a result, manufacturing costs have increased in the short-term due to non-recurring transition related expenses.

We are off to a good start in March and look for better results as we move ahead. Our merger and acquisition program remains active with a number of potential candidates.”

Revenue for the Industrial Materials segment increased over the prior year as greater demand in the power cable and communication cable markets resulted in increased wire and cable product sales. This was partially offset by decreased sales of electronic coatings products as well as lower sales into the aerospace and transportation product markets.

The Construction Materials segment also saw increased revenues over the prior year primarily due to sales of pipeline tape products produced at the Company’s UK facility. Overall profit margins in the Construction Materials segment are lower than what is seen in the Industrial Materials segment.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
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 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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