AAON Reports Record Sales and Earnings
(firmenpresse) - TULSA, OK -- (Marketwired) -- 11/07/13 -- AAON, Inc. (NASDAQ: AAON), today announced its operating results for the third quarter and nine-month period ended September 30, 2013.
The quarter ended September 30, 2013 was the fourth consecutive quarter to produce the highest sales and earnings for any corresponding quarter in any year in the 25-year history of the company. Sales and earnings for the nine months ended September 30, 2013, were also all time records.
Revenues in the quarter were $89.7 million, up 16.8% from $76.8 million in 2012. Net income was $10.5 million, up 75.2% from $6.0 million in the same period a year ago. Net sales for the nine-month period ended September 30, 2013 were $247.8 million, up 10.1% compared to $225.1 million in 2012. Earnings for the nine months ended September 30, 2013 were $29.8 million, up 49.9% compared to $19.9 million in 2012.
Earnings per diluted share in the third quarter of 2013 were $0.28, up 75.0% from $0.16 for the same period a year ago, based upon 37.0 million shares outstanding for both periods. Earnings per diluted share were $0.80, up 48.1% from $0.54, in the nine months ended September 30, 2013, and September 30, 2012, respectively, based upon 37.0 million and 37.1 million diluted shares outstanding for the nine months ended September 30, 2013, and September 30, 2012, respectively. All per share earnings reflect the 3-for-2 stock split effective July 2, 2013.
Norman H. Asbjornson, President and CEO, stated, "The third quarter gains in sales and income from operations primarily reflect an increase in market share, as well as price increases and a decline in cost of materials; gross profit as a percent of sales increased from 22.3% to 29.7%, but SG&A expenses as a percent of sales also increased from 8.8% to 10.8%, the majority of which (SG&A) represents increases in 'profit sharing' and warranty expense."
Mr. Asbjornson continued, "The Company's backlog decreased from $55.3 million at September 30, 2012 to $49.9 million at September 30, 2013."
Mr. Asbjornson said, "While we are confident of having record sales and profits for 2013, we expect a decline in sales and fairly level profits in the fourth quarter of 2013 compared to an exceptionally strong fourth quarter last year."
At a meeting of the Board of Directors on November 6, 2013, the Board declared a regular semi-annual cash dividend of $0.10 per share, which will be paid to the holders of the outstanding Common Stock of the Company as of the close of business on December 2, 2013, the record date, payable December 23, 2013.
The Company will host a conference call today at 4:15 P.M. Eastern Time to discuss the third quarter results. To participate, call 1-866-544-4631; or, for rebroadcast, call 1-866-245-6755 (code 531989).
AAON, Inc. is a manufacturer of air-conditioning and heating equipment consisting of rooftop units, chillers, air-handling units, condensing units, heat recovery units, commercial self-contained units and coils. Its products serve the new construction and replacement markets. The Company has successfully gained market share through its "semi-custom" product lines, which offer the customer value, quality, function, serviceability and efficiency.
Certain statements in this news release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements.
*Reflects three-for-two stock split effective July 2, 2013
*Reflects three-for-two stock split effective July 2, 2013
For Further Information:
Jerry R. Levine
Phone: (914) 244-0292
Fax: (914) 244-0295
Email:
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Datum: 07.11.2013 - 06:00 Uhr
Sprache: Deutsch
News-ID 1280538
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