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!

Otter Tail Corporation Announces Strong First Quarter Earnings And Reaffirms 2013 Earnings Guidance

Stocks in this article: OTTR

FERGUS FALLS, Minn., May 6, 2013 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the quarter ended March 31, 2013.


  • Consolidated net income and diluted earnings from continuing operations totaled $15.2 million and $0.41 per share, respectively, compared with $10.2 million and $0.28 per share for the first quarter of 2012.
  • Consolidated net income and diluted earnings from continuing and discontinued operations totaled $15.4 million and $0.41 per share, respectively, compared with $7.2 million and $0.20 per share for the first quarter of 2012.
  • Consolidated revenues from continuing operations were $218.0 million compared with $219.9 million for the first quarter of 2012.

CEO Overview

"We are pleased with our 2013 first quarter results," said Otter Tail Corporation President and CEO Jim McIntyre. "We have continued the execution of our strategy to reduce the number of platforms and operating companies. Our initiatives to drive operational excellence and improved financial performance within this much tighter and stronger portfolio of companies are beginning to pay off.

"Earnings from our Electric segment met our expectations as a result of more seasonally normal weather in the first quarter of 2013 compared with the unusually mild winter of 2012. Net income for the Electric segment was up 8.3% over 2012 as a result of the impact of the weather on sales and increased revenues from returns on investments in CapX2020 and Midwest Transmission System Operator (MISO) Multi-Value Projects (MVPs).

"Our Plastics segment, which includes PVC pipe manufacturers Northern Pipe Products and Vinyltech, had a very strong quarter, experiencing higher-than-expected sales volumes and net income, with slightly improved margins. Sales volume from our Vinyltech plant in Arizona increased 11.1% as housing markets began to show improvement in South Central and Southwest regions of the United States. Sales volume from Northern Pipe Products in Fargo increased 2.0%, despite the harsh winter in the region.

1 of 9

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