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

Chase Corporation Announces First Quarter Results

Chase Corporation (NYSE MKT: CCF) today reported revenues of $53.4 million for the quarter ended November 30, 2012. This represents an increase of $21.3 million or 66% compared to $32.1 million in the first quarter of last fiscal year. The first fiscal 2013 quarter included revenues of $19.0 million from the Company’s NEPTCO acquisition (of which $3.4 million related to the NEPTCO Joint Venture) which was acquired in June 2012. Net income attributable to Chase Corporation of $3.54 million increased $1.21 million or 52% from $2.33 million in the prior year period. Earnings per diluted share of $0.39 in the first quarter of fiscal 2013 represented an increase of $0.13 compared to $0.26 per share in fiscal 2012. Included in the current quarter results are charges totaling $0.92 million relating to the step up in fair value of inventory and defined benefit plan settlement costs.

Peter R. Chase, Chairman and Chief Executive Officer commented: “Our first quarter performed as expected on both top and bottom lines. This is, of course, a significant improvement from the previous year driven by growth in electronic coatings, PaperTyger, a C.I.M. project and the contributions from NEPTCO, Inc., our June 2012 acquisition.

Strategic focus has been consistent with emphasis on a) plant consolidation and investment in manufacturing process, b) organization restructure, c) coordinated marketing and product development and d) M&A efforts.

At the end of November the transfer of production from Randolph to Oxford and Pittsburgh was completed. The careful planning and detailed execution paid off in a successful transition. This follows the previous moves from Webster and Paterson to Oxford and Taylorsville. All affected production lines went through a thorough re-engineering as part of the project. We are now seeing the results in improved efficiency, higher quality and a better ability to meet increasing safety and environmental requirements.

1 of 3

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
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
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,201.49 +143.14 0.89%
S&P 500 1,925.67 +11.82 0.62%
NASDAQ 4,675.7550 +39.65 0.86%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs