This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Colfax's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: CFX

With respect to any non-GAAP financial measures used during the call today, the accompanying information required by SEC Reg G, relating to those measures can be found in our earnings press release and in the supplemental slide presentation, again, that’s in the Investor section of the Colfax website.

As a reminder the comments from the last call, it is important to note that while we are able to report pro forma sales including Howden and ESAB for 2011, we do not have pro forma adjusted operating income, adjusted net income or adjusted net income per share available for 2011. As such we are not able to make comparison of results other than sales on a pro forma basis.

Finally, the strengthening of the U.S. dollar had a material impact on this quarter’s result, relative to the assumptions in our previous guidance this resulted in approximately $15 million less in sales, and $0.01 per share less than adjusted ESP.

And now I’d like to turn it over to Steve.

Steve Simms

Good morning everyone. Today we are going to cover three topics. Our second quarter results, thoughts on the most recent economic trends and how they are impacting our business, and finally our updated earnings guidance for 2012. I’ll handle the first two and Scott will provide more detail on the financials and the updated 2012 guidance, and then we will open it up for Q&A.

As we announced in our press release this morning, we are pleased with our second quarter results given the current economic environment. Our longer cycle business continues to perform well with sales in gas and fluid handling segment up 8% from the pro forma 2011 quarter.

Our fabrication technology segment also turned in a solid performance with sales in line with expectations and margins improving as anticipated. As Scott mentioned, results in both segments were negatively impacted by the strengthening of the U.S. dollar against most currencies. We continue to progress as planned on our current cost initiatives and our backlog remains solid at $1.4 billion in sales.

2 of 3

Select the service that is right for you!

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.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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