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

SL Industries Announces 2012 First Quarter Results

SL INDUSTRIES, INC. (NYSE AMEX: SLI) Announced today that its net sales from continuing operations for the quarter ended March 31, 2012, were $49.3 million, down 6% compared with net sales from continuing operations for the quarter ended March 31, 2011 of $52.6 million.

Income from continuing operations for the quarter ended March 31, 2012 was $1.4 million, or $0.31 per diluted share, compared to income from continuing operations of $3.6 million, or $0.79 per diluted share, for the quarter ended March 31, 2011.

Net income for the quarter ended March 31, 2012 was $1.3 million, or $0.27 per diluted share, compared to net income of $3.4 million, or $0.75 per diluted share, for the quarter ended March 31, 2011. Net income for the quarter ended March 31, 2012 and March 31, 2011 included a net loss from discontinued operations, net of tax, of $0.2 million, or $0.04 per diluted share for both periods. The net losses from discontinued operations for the first quarter of 2012 and 2011 primarily relate to after tax charges for environmental remediation.

On February 27, 2012, the Company entered into an agreement to purchase certain assets of Pro-Dex Astromec, Inc. (“Astromec”), a subsidiary of Pro-Dex Inc., for approximately $1,050,000.

Division Results

SLPE (SL Power Electronics Corp.)

SLPE designs, manufactures, markets high-reliability power conversion, motion control, and electronic protection equipment designed for medical, aerospace, computer, datacom, industrial, telecom, transportation and utility applications.

For the quarter ended March 31, 2012, SLPE reported a loss from operations of $0.2 million, compared to income from operations of $2.3 million for the quarter ended March 31, 2011. Sales for the quarter ended March 31, 2012 were $18.3 million, down 16% over the quarter ended March 31, 2011. Loss from operations was impacted by a decrease in distributor sales, unfavorable product and sales mix, unfavorable overhead absorption due to lowers sales, and higher selling, general and administrative costs primarily due to the Company’s ongoing investigation related to possible Foreign Corrupt Practices Act violations in China.

1 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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs