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!

ParkOhio Announces Increased Revenues And Earnings In The Fourth Quarter And Record Annual Results

Park-Ohio Holdings Corp. (NASDAQ: PKOH) today announced results for its fourth quarter and year ended December 31, 2013.

FOURTH QUARTER RESULTS

Net sales were $309.4 million for the fourth quarter of 2013, an increase of $35.4 million, or 13%, from net sales of $274.0 million for the fourth quarter of 2012. Earnings per diluted share attributable to common shareholders increased 14% to $0.72 in the fourth quarter of 2013 from $0.63 in the fourth quarter of 2012. ParkOhio reported net income attributable to ParkOhio common shareholders of $8.9 million, or $0.72 per diluted share, for the fourth quarter of 2013, which included: a loss of $0.2 million from discontinued operations, or $0.02 per diluted share; $1.6 million, or $0.11 per diluted share, of pre-tax acquisition-related costs in cost of sales associated with the fourth quarter acquisitions by Supply Technologies; and excluded $0.3 million, or $0.02 per diluted share, of net income attributable to noncontrolling interest. This compares to net income attributable to ParkOhio common shareholders of $7.7 million, or $0.63 per diluted share, for the fourth quarter of 2012, which included the impact of the net loss of $0.5 million, or $0.04 per diluted share, from discontinued operations, net of taxes.

For the fourth quarter of 2013, as adjusted earnings were $0.85 per diluted share, or $10.4 million, which was an increase of 27%, compared to as adjusted earnings of $0.67 per diluted share, or $8.2 million, for the fourth quarter of 2012. As adjusted earnings reflect earnings from continuing operations attributable to ParkOhio common shareholders excluding the acquisition-related costs included in cost of sales associated with the fourth quarter acquisitions by Supply Technologies. In addition, EBITDA, as defined was $27.0 million during the fourth quarter of 2013 and compares to EBITDA, as defined of $27.3 million during the fourth quarter of 2012.

1 of 4

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 17,052.06 -27.51 -0.16%
S&P 500 1,996.77 +0.03 0.00%
NASDAQ 4,561.3460 +3.6510 0.08%

Brokerage Partners

Rates from Bankrate.com

  • 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