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!

Luxfer Reports Fourth-Quarter 2012 Results

Luxfer Holdings PLC (Luxfer Group) (NYSE:LXFR), a global materials technology company, today issued its unaudited financial results for the fourth quarter and full year ended December 31, 2012.

UNAUDITED FINANCIAL RESULTS FOR FOURTH QUARTER AND FULL YEAR OF 2012

The results are summarised as follows:

 

Three-month periods- ended December 31,

   

Twelve-month periods- ended December 31,

    2012   2011     2012   2011

 

   

Net revenue (excluding price surcharge below)

$125.7m $108.8m $471.1m $441.0m

Rare earth chemical surcharge

$4.3m $17.1m $40.5m $69.8m
Revenue   $130.0m   $125.9m     $511.6m   $510.8m
Trading profit $16.1m $14.5m $68.8m $66.0m

Trading margin

12.4% 11.5% 13.4% 12.9%
Operating profit   $14.0m   $13.1m     $66.7m   $66.2m
Net income

$9.9m

$11.2m

$42.4m $43.4m

Earnings per ADS – Basic (1)

$0.37 N/a N/a N/a

Earnings per £1 Ord. share – Basic (2)

  $0.74   $1.13     $3.95   $4.39

Adjusted net income (3)

$12.7m $12.1m $45.0m $43.4m

Earnings per ADS Adj. Net Income – Basic

  $0.47   N/a     N/a   N/a

Adjusted EBITDA (4)

$20.0m $18.3m $83.5m $80.5m

Adjusted EBITDA margin

  15.4%   14.5%     16.3%   15.8%
Net cash inflow from operating activities   $17.3m   $32.5m     $69.0m   $29.1m
Net Debt (Total debt less cash)   $23.3m   $110.3m     $23.3m   $110.3m

(1)

    Each ADS represents one-half of an ordinary share. Earnings per ADS has only been disclosed for Q4 2012, as there was no ADR facility before this period.

(2)

Basic earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding in the period. The IPO of 3 rd October 2012, resulted in 3.5 million new ordinary shares being issued, and therefore the weighted average calculation for ordinary shares does not reflect the fully dilutive impact of the newly-issued ordinary shares on our outstanding ordinary shares.

(3)

Adjusted net income consists of net income adjusted for the post tax impact of non-trading items (being acquisition, disposal, IPO, rationalization and non-trading retirement benefit charges or credits). A reconciliation to net income is disclosed in Note 1 to the financial results “Reconciliation of non-GAAP measures”.

(4)

Adjusted EBITDA consists of profit for the period before tax expense, interest items, other income (expense) items and depreciation and amortization. A reconciliation to net income is disclosed in Note 1 to the financial results “Reconciliation of non-GAAP measures”.

The above are unaudited summary results for 2012 – Draft primary financial statements are contained at the end of this report.

Note on preliminary announcement

The information in this preliminary announcement does not constitute statutory accounts of Luxfer Holdings PLC or the Luxfer Group within the meaning of sections 434 to 436 of the Companies Act 2006. No statutory accounts have been delivered to the Registrar of Companies for the year ended 31 December 2012 yet. Statutory accounts for the year ended 31 December 2011 have been delivered to the Registrar of Companies. The auditors’ report on the accounts for the year ended 31 December 2011 was unqualified and did not contain an emphasis of matter, nor did it contain statements under sections 498(2) and 498(3) of the Companies Act 2006.

COMMENTARY FOR THE THREE-MONTH AND TWELVE-MONTH PERIODS-ENDED DECEMBER 31, 2012

RELEASE OF AUDITED 2012 FINANCIAL STATEMENTS & OTHER YEAR END DOCUMENTS

1 of 16

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.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

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