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
TheStreet Open House

LMI Aerospace, Inc. Announces Fourth Quarter And Full-Year 2012 Results

ST. LOUIS, March 12, 2013 (GLOBE NEWSWIRE) -- LMI Aerospace, Inc. (Nasdaq:LMIA), a leading provider of design engineering services and supplier of structural assemblies, kits and components to the aerospace and defense markets, today announced its financial results for the fourth quarter and the twelve months ended December 31, 2012.

2012 Highlights

  • Sales of $278.6 million for 2012, a historical high for the company, up 9.7 percent from 2011 and sales of $71.9 million for the fourth quarter of 2012, up 10.6 percent from the fourth quarter of 2011  
  • Diluted earnings per share for the fourth quarter of $0.38, excluding acquisition costs and the write off of deferred financing costs  
  • Completed the acquisition of Valent Aerostructures, LLC ("Valent") and in connection therewith, refinanced the company's debt  
  • Guidance for 2013 has been updated to include Valent  
  • Firm backlog at December 31, 2012, was a record $371.4 million  
  • Adjusted EBITDA was $40.9 million for 2012

Fourth Quarter Results

Net sales for the fourth quarter of 2012 increased 10.6 percent to $71.9 million, compared to $65.0 million in the fourth quarter of 2011. Net income for the fourth quarter of 2012 was $1.0 million, or $0.08 per diluted share, compared to $4.1 million, or $0.35 per diluted share, in the fourth quarter of 2011. Fourth quarter 2012 results include a pre-tax charge of $4.8 million of acquisition costs and of $0.6 million for the write off of deferred financing fees. Excluding these charges, net of a 35.0 percent tax rate, earnings per diluted share would have been $0.38. The operations of Valent, included for only three days after the closing on December 28, 2012, had no material impact upon sales and earnings for the fourth quarter of 2012 or for the full-year 2012.

1 of 8

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

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