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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

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.

Stock quotes in this article: SLI 

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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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