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!

Douglas Dynamics Announces Third Quarter 2013 Results

Stocks in this article: PLOW


  • Company reported third quarter net sales of $52.0 million, in line with internal expectations
  • Pre-season order period (Q2 & Q3 combined) net sales increased 3.8% from the prior year period
  • Reported Adjusted EBITDA of $10.2 million for the third quarter
  • Board approves Q4 2013 dividend increase of 2.41% to $0.2125 per share

MILWAUKEE, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE:PLOW), the North American leader in the design, manufacture and sale of snow and ice control equipment for light trucks, today announced financial results for the third quarter ended September 30, 2013.

Third Quarter Results

The Company's pre-season sales period is comprised of the second quarter and third quarters combined. As expected and as previously discussed, the 2013 pre-season order period shipment period was relatively evenly distributed between the second and third quarters, compared to the shipment split of approximately 65/35 for the 2012 pre-season order period.

In 2013, net sales were $52.0 million in the third quarter of 2013, compared to third quarter 2012 net sales of $37.8 million, an increase of 37.6%. The Company attributes the increase in sales primarily to the shift in timing of pre-season order shipments, which was driven primarily by the record number of new product launches, plus the addition of the business of TrynEx, Inc. which the Company acquired in May 2013.

James L. Janik, President and Chief Executive Officer, commented, "The 2013 pre-season order period produced results in line with internal expectations. We are encouraged by key leading indicators such as sales of light trucks, which are trending in the right direction. We are seeing the initial signals of a return towards a more normal operating environment following the challenging market conditions we experienced from the fall and winter of 2011 through all of 2012, and, while our dealers still remain somewhat cautious, we are seeing slightly more optimism. Along with improving key market indicators, we've received strong response for our new product offerings and we continue to optimize the integration and execution of the TrynEx business, which we anticipate will further enhance our long-term growth and profitability."

Net income was $0.6 million, or $0.02 per diluted share based on weighted average shares of 22.1 million shares, in the third quarter of 2013 compared to net income of $2.3 million, or $0.10 per diluted share based on weighted average shares of 22.0 million shares, in the third quarter of 2012. Included in these results are $4.4 million of non-cash purchase accounting adjustments related to the TrynEx acquisition. These adjustments are primarily reflected in the increase in the selling, general and administrative expenses due to the $3.8 million in earn out compensation expenses recorded in conjunction with the acquisition. As previously stated, the acquisition is expected to be accretive to earnings per share on a full-year basis in 2014 and free cash flow positive on a stand-alone basis in 2014.

1 of 5

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 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

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