Outlook Group Reports Increased First Quarter Results; Substantial Improvement in Sales and Earnings Reflects Successful Growth
20 9월 2005 - 6:42AM
Business Wire
Outlook Group Corp. (Nasdaq:OUTL) today reported net sales of
$23,128,000 for the first quarter ended August 27, 2005, a 34.4%
increase from sales of $17,207,000 for the first quarter of the
prior year. Net earnings increased 73.8% to $1,222,000 or $0.35 per
diluted share for the first quarter of fiscal 2006, compared to net
earnings of $703,000 or $0.21 per diluted share for the comparable
prior period. "This was a very strong quarter for Outlook Group.
The significant improvement is a direct result of our strategies to
increase sales and enhance productivity. We are continuing to build
momentum, with solid top- and bottom-line growth," said Joseph J.
Baksha, president and chief executive officer of Outlook Group.
Baksha said the higher sales reflected increased orders from both
existing and new clients. The improvement in earnings for the
quarter was primarily due to increased capacity utilization and
absorption of overhead as a result of the higher sales. "We are
continuing to execute on our strategy to develop long-term client
relationships by offering complete supply chain management
solutions. We are also realizing the benefits of our ongoing
productivity improvement programs and our investments in new
equipment to enhance our capabilities. As an example, the client
response to our recently purchased Kodak NexPress(R) four-color
digital printing equipment has been very positive," said Baksha.
"Fiscal 2006 is off to an excellent start and we expect that we can
look forward to continued progress in the months ahead." Outlook
Group Corp. is a printing, packaging and direct marketing company
offering a variety of related services to clients in markets
including contract packaging, collateral information management and
distribution, direct marketing components and services, packaging
components and materials and specialty print related services. The
company leverages its core competencies by cross-selling services
to provide a single-source solution for its clients. The
discussions of potential future occurrences and operations, and
other statements in the future tense or using terms such as
"believe," "expect," or "anticipate," in this press release are
"forward-looking statements" intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
subject to certain risks and uncertainties which could cause actual
results to differ materially from those anticipated. Outlook's
periodic filings with the Securities and Exchange Commission
discuss a number of other factors which may affect Outlook's future
operations, including: possible changes in customer relationships;
financing needs to support our relationships; possible termination
of contracts, including long-term contracts; the need to complete
the transitions to the new customer contracts, and the need to
achieve and maintain satisfactory performance thereunder; potential
inability to achieve expected cost savings or delays in their
achievement; changes in project mix and timing; the effects of
industry competition, overcapacity and acquisition activity;
slowdowns in general market and economic conditions, and changes in
other world and national conditions; and the possible need for
future capital investments or equipment enhancements, and related
financing. Readers are urged to consider these factors carefully in
evaluating the forward-looking statements. -0- *T OUTLOOK GROUP
CORP. Condensed Consolidated Statements of Operations (Unaudited)
----------------------------------------------------------- (in
thousands, except share and per share amounts) Three-Month Period
Ended ------------------------ August 27, 2005 August 28, 2004
--------------- --------------- Net sales $23,128 $17,207 Cost of
goods sold 18,335 13,588 --------------- --------------- Gross
profit 4,793 3,619 Selling, general and administrative expenses
2,707 2,576 --------------- --------------- Operating profit 2,086
1,043 Other income (expense): Interest expense (87) (44) Interest
and other income 38 144 --------------- --------------- Earnings
from operations before income taxes 2,037 1,143 Income tax expense
815 440 --------------- --------------- Net earnings $1,222 $703
=============== =============== Net earnings per common share:
Basic $0.36 $0.21 =============== =============== Diluted $0.35
$0.21 =============== =============== Weighted average number of
shares outstanding: Basic 3,388,033 3,385,477 ===============
=============== Diluted 3,453,977 3,413,328 ===============
=============== Selected Consolidated Balance Sheet Data
(Unaudited) ----------------------------------------------------
(Dollars in thousands) August 27, 2005 August 28, 2004
--------------- --------------- Ratio Analysis -------------- Total
current assets $26,099 $24,961 Total current liabilities 11,685
8,003 Total long term debt (including current maturities) 6,275
1,225 Shareholders' equity 34,378 31,361 Current ratio 2.23 3.12
Debt to total capitalization 15.4% 3.8% *T
Outlook (NASDAQ:OUTL)
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