Hubbell Inc. : HUBBELL REPORTS FIRST QUARTER RESULTS; NET SALES OF $740.1 MILLION AND EARNINGS PER DILUTED SHARE OF $1.10

  Hubbell Inc. : HUBBELL REPORTS FIRST QUARTER RESULTS; NET SALES OF $740.1
               MILLION AND EARNINGS PER DILUTED SHARE OF $1.10

Hubbell Incorporated
40 Waterview Drive
Shelton, CT 06484
475-882-4000

Contact:   James M. Farrell

SHELTON, CT.  (April 18,  2013) -  Hubbell Incorporated  (NYSE:HUBA,  HUBB) 
today reported operating results for the first quarter ended March 31, 2013.

Net sales in the first quarter of 2013 were $740.1 million, an increase of  2% 
compared to  the  $723.8  million  reported in  the  first  quarter  of  2012. 
Operating income was $97.7 million, or 13.2% of net sales, compared to $101.7
million, or  14.1% of  net sales,  for  the comparable  period of  2012.  The 
effective tax rate in the first quarter of 2013 was 26.8%, which includes  the 
retroactive application of the  U.S. Federal R&D tax  credit that was part  of 
the American Taxpayer Relief Act of  2012. This compares to an effective  tax 
rate of 32.8% reported in the first quarter of 2012. Net income in the  first 
quarter of 2013 was $65.9 million  versus $63.2 million reported in the  first 
quarter of 2012. Earnings per diluted share were $1.10 in the first quarter of
2013 compared to $1.05 reported in the first quarter of 2012. Free cash  flow 
(defined as cash  flow from  operations less capital  expenditures) was  $29.7 
million in the  first quarter  of 2013 versus  $33.7 million  reported in  the 
comparable period of 2012. 

OPERATIONS REVIEW

David G. Nord, President and Chief Executive Officer, said, "The first quarter
results were in line with our  expectations with sales increasing 2%  compared 
to the  prior year.  Acquisitions added  3%  to sales  in the  quarter  which 
included contributions from Continental Industries,  Inc. that we acquired  in 
January of  this  year.  The  level  of  organic  sales  in  the  quarter  was 
essentially  unchanged  compared  to  last   year's  strong  start.  From   a 
profitability perspective, we reported operating  margin of 13.2%, below  last 
year due  to  costs  of  approximately $2  million  associated  with  facility 
consolidations  in  our  Power  segment  and  lower  sales  of  higher  margin 
industrial products.  We anticipate  incurring additional  charges related  to 
these plant consolidations  in the  second quarter  of this  year. The  total 
costs related to facility actions for the  first half of 2013 are expected  to 
be approximately $5 million. 

"Turning to our  end markets, U.S.  non-residential new construction  activity 
improved as most of our businesses that are exposed to this market experienced
order growth in the quarter. North American electrical utility demand for  our 
products was  in line  with the  prior year  which benefitted  from  unusually 
strong spending  due  to  favorable  weather conditions  and  high  levels  of 
transmission project activity.  Industrial demand was  lower primarily due  to 
our extractive  industry  related  businesses which  also  experienced  strong 
demand in the first  quarter of 2012.  We were encouraged  that orders at  our 
high voltage test businesses increased  in the quarter and, not  surprisingly, 
the residential market experienced strong growth."

SEGMENT REVIEW

The comments and year-over-year percentages  in this segment review are  based 
on first quarter results in 2013 and 2012.

Electrical segment net  sales in  the first quarter  of 2013  increased 2%  to 
$515.3 million compared  to $505.1 million  reported in the  first quarter  of 
2012. The increase was  due to acquisitions which  contributed 3% to sales  in 
the quarter. Organic volume was impacted by lower shipments in the  industrial 
related businesses, most notably in  high voltage test equipment. Compared  to 
the first quarter of 2012, operating income decreased 3% to $61.6 million,  or 
12.0% of net  sales. The  decrease in operating  income was  primarily due  to 
lower sales  of  higher margin  industrial  products. Price  and  productivity 
essentially offset all cost increases.  

Hubbell's Power segment  net sales in  the first quarter  of 2013 were  $224.8 
million compared to $218.7 million reported in the first quarter of 2012.  The 
acquisition that was completed in the fourth quarter of 2012 contributed 3% to
sales. Organic sales were essentially flat as utility maintenance spending was
modest compared to an unusually strong start in the first quarter of 2012  due 
to  favorable  weather  conditions.  Transmission  related  project   spending 
continued at a high level but slightly below last year's strong first quarter.
In the  quarter the  consolidation of  facilities was  initiated and  will  be 
completed in the  second quarter  of 2013. Compared  to the  first quarter  of 
2012, operating income decreased 5% to  $36.1 million, or 16.1% of net  sales. 
The  decrease  in  operating  income  was  primarily  due  to  these  facility 
consolidation costs and unfavorable material costs and pricing.

SUMMARY & OUTLOOK

Mr. Nord commented, "Looking to our full year outlook for 2013, we continue to
expect overall  sales  to  increase  in  the 3  to  5%  range  with  completed 
acquisitions contributing 2% of the growth. Within our Electrical segment,  we 
expect 3  to 5%  growth led  by an  anticipated continuation  of double  digit 
growth rates in our residential  businesses. Our view for the  non-residential 
new construction market is  unchanged; we expect low  single digit growth  for 
the year with some acceleration in  the second half. The industrial market  is 
expected to grow slightly as increases  in factory utilization and the  energy 
markets will  be  partially offset  by  lower  demand for  high  voltage  test 
equipment. The Power segment  is expected to  grow in the 4  to 6% range  with 
acquisitions already completed  contributing 2%.  We expect  low single  digit 
growth for maintenance and  repair work on  the distribution and  transmission 
networks. Spending for transmission related projects is expected to remain  at 
a high level but  the year over  year growth rate will  be modest compared  to 
record levels  in  2012.  I would  also  add  that we  continue  to  seek  out 
acquisitions to  support  growing  the enterprise  and  the  pipeline  remains 
active. "

Mr. Nord  concluded, "Turning  to  profitability, we  are still  targeting  to 
expand our operating  margins by approximately  40 basis points  in 2013.  The 
margin improvement will be heavily weighted to the second half of the year due
to anticipated improvement  in year  over year  volume increases.  We plan  on 
achieving this  goal  by  operating  with discipline  and  focusing  in  areas 
including: driving  productivity  programs throughout  the  Company,  managing 
pricing in a slow growth environment and carefully balancing costs  associated 
with longer term investments in the business. Our ability to execute in  these 
areas should allow us to expand our margins in 2013 and beyond."

Certain statements contained herein may constitute forward-looking  statements 
within the meaning of  the Private Securities Litigation  Reform Act of  1995. 
These include statements about capital  resources, performance and results  of 
operations and are based on the Company's reasonable current expectations. In
addition, all  statements  regarding  anticipated  growth  or  improvement  in 
operating results, anticipated  market conditions, and  economic recovery  are 
forward-looking.  These  statements   may  be   identified  by   the  use   of 
forward-looking words or phrases  such as "improved", "leading",  "improving", 
"continuing  growth",  "continued",  "ranging",  "contributing",  "primarily", 
"plan", "expect", "anticipated", "expected", "expectations," "should  result", 
"uncertain", "goals", "projected", "on track", "likely", "intend" and  others. 
Such  forward-looking  statements  involve  numerous  assumptions,  known  and 
unknown risks,  uncertainties and  other factors  which may  cause actual  and 
future performance or achievements of  the Company to be materially  different 
from any future results, performance, or achievements expressed or implied  by 
such forward-looking statements. Such factors include, but are not limited to:
achieving sales levels  to fulfill revenue  expectations; unexpected costs  or 
charges, certain  of  which  may  be  outside  the  control  of  the  Company; 
anticipated impacts from  the Federal stimulus  package; expected benefits  of 
process improvement  and  other lean  initiatives;  the expected  benefit  and 
effect  of  the  business  information  system  initiatives  and  streamlining 
programs;  the  availability  and  costs   of  raw  materials  and   purchased 
components; realization of price increases;  the ability to achieve  projected 
levels of  efficiencies  and cost  reduction  measures; general  economic  and 
business  conditions;  competition;  and   other  factors  described  in   our 
Securities and Exchange  Commission filings, including  the "Business",  "Risk 
Factors", and  "Quantitative and  Qualitative Disclosures  about Market  Risk" 
Sections in the Annual  Report on Form  10-K for the  year ended December  31, 
2012.

Hubbell Incorporated is  an international manufacturer  of quality  electrical 
and electronic products for a  broad range of non-residential and  residential 
construction, industrial and utility applications. With 2012 revenues of $3.0
billion, Hubbell Incorporated operates manufacturing facilities in the  United 
States, Canada, Switzerland, Puerto Rico, Mexico, and the People's Republic of
China,  Italy,  the  United  Kingdom,  Brazil  and  Australia.  Hubbell  also 
participates in joint ventures  in Taiwan and Hong  Kong, and maintains  sales 
offices in Singapore,  the People's  Republic of China,  India, Mexico,  South 
Korea and the Middle East. The corporate headquarters is located in  Shelton, 
CT.

#######

                             HUBBELL INCORPORATED
                  Condensed Consolidated Statement of Income
                                 (unaudited)
                   (in millions, except per share amounts)
                                                           Three Months Ended
                                                                March 31
                                                            2013      2012
Net Sales                                                 $ 740.1  $ 723.8
Cost of goods sold                                          503.8    489.7
Gross Profit                                                236.3    234.1
Selling & administrative expenses                           138.6    132.4
Operating income                                             97.7    101.7
           Operating income as a % of Net sales               13.2%      14.1%
Interest expense, net                                        (7.3)     (7.2)
Other income, net                                             0.8      0.1
Total other expense, net                                     (6.5)     (7.1)
Income before income taxes                                   91.2     94.6
Provision for income taxes                                   24.4     31.0
Net income                                                $  66.8  $  63.6
Less: Net income attributable to noncontrolling interest      0.9      0.4
Net income attributable to Hubbell                        $  65.9  $  63.2
Earnings Per Share:
           Basic                                          $   1.11  $  1.06
           Diluted                                        $   1.10  $  1.05
Cash dividends per common share                           $   0.45  $  0.41

                             HUBBELL INCORPORATED
                     Condensed Consolidated Balance Sheet
                                 (unaudited)
                                (in millions)
                                           March 31, 2013    December 31, 2012
ASSETS
Cash and cash equivalents                $        606.2  $           645.0
Short-term investments                             10.1                8.8
Accounts receivable, net                          443.6              405.2
Inventories, net                                  350.6              341.7
Deferred taxes and other                           60.0               55.5
 TOTAL CURRENT ASSETS                         1,470.5            1,456.2
Property, plant and equipment, net                364.5              364.7
Investments                                        41.4               36.7
Goodwill                                          772.4              755.5
Intangible assets, net                            294.0              288.1
Other long-term assets                             44.9               45.8
 TOTAL ASSETS                          $      2,987.7  $         2,947.0
LIABILITIES AND EQUITY
Accounts payable                         $        235.6  $           213.1
Accrued salaries, wages and employee
benefits                                           51.0               75.4
Accrued insurance                                  43.4               39.6
Other accrued liabilities                         114.6              119.3
 TOTAL CURRENT LIABILITIES                      444.6              447.4
Long-term debt                                    596.8              596.7
Other non-current liabilities                     242.3              235.0
 TOTAL LIABILITIES                            1,283.7            1,279.1
Hubbell Shareholders' Equity                    1,696.8            1,661.2
Noncontrolling interest                             7.2                6.7
 TOTAL EQUITY                                 1,704.0            1,667.9
TOTAL LIABILITIES AND EQUITY             $      2,987.7  $         2,947.0

                             HUBBELL INCORPORATED
                Condensed Consolidated Statement of Cash Flows
                                 (unaudited)
                                (in millions)
                                                   Three Months Ended March 31
                                                       2013          2012
Cash Flows From Operating Activities
 Net income attributable to Hubbell              $      65.9   $    63.2
 Depreciation and amortization                          17.2        16.2
 Stock-based compensation expense                        3.0         2.8
 Deferred income taxes                                   4.3         5.4
 Changes in working capital                            (47.9)       (38.6)
 Contributions to defined benefit pension plans         (0.7)        (0.6)
 Other, net                                              0.9        (3.3)
    Net cash provided by operating activities         42.7        45.1
Cash Flows From Investing Activities
 Capital expenditures                                  (13.0)       (11.4)
 Acquisition of businesses, net of cash acquired       (37.5)       (10.9)
 Net change in investments                              (5.5)         0.5
 Other, net                                              0.2         5.5
    Net cash used in investing activities            (55.8)       (16.3)
Cash Flows From Financing Activities
 Short-term debt repayments, net                           -        (2.6)
 Payment of dividends                                  (26.7)       (22.4)
 Repurchase of common shares                               -       (42.1)
 Proceeds from exercise of stock options                 0.8        18.3
 Other, net                                              4.2         8.2
    Net cash used in financing activities            (21.7)       (40.6)
Effect of foreign exchange rate changes on cash
and cash equivalents                                      (4.0)         4.6
Decrease in cash and cash equivalents                    (38.8)        (7.2)
Cash and cash equivalents
  Beginning of period                                  645.0       569.6
  End of period                                  $     606.2   $   562.4

                     HUBBELL INCORPORATED
                     Segment Information
                         (unaudited)
                        (in millions)
                                  Three Months Ended March 31
                                      2013          2012
Net Sales
  Electrical                    $    515.3   $   505.1
  Power                              224.8       218.7
     Total Net Sales          $    740.1   $   723.8
Operating Income
  Electrical                    $     61.6   $    63.8
  Power                               36.1        37.9
     Total Operating Income   $     97.7   $   101.7
Operating Income as a % of Net Sales
  Electrical                           12.0%         12.6%
  Power                                16.1%         17.3%
     Total                           13.2%         14.1%

                          HUBBELL INCORPORATED
                     Earnings Per Share Calculation
                               (unaudited)
                 (in millions, except per share amounts)
                                                       Three Months Ended
                                                            March 31
                                                        2013     2012
Numerator:
 Net income attributable to Hubbell                    $  65.9  $  63.2
 Less: Earnings allocated to participating securities     0.2     0.2
 Net income available to common shareholders           $  65.7  $  63.0
Denominator:
 Average number of common shares outstanding             59.1    59.2
 Potential dilutive shares                                0.5     0.7
 Average number of diluted shares outstanding            59.6    59.9
Earnings per Share:
 Basic                                                 $ 1.11  $ 1.06
 Diluted                                               $ 1.10  $ 1.05

                             HUBBELL INCORPORATED
                         Non-GAAP Financial Measures
                                 (unaudited)
                                (in millions)
Ratios of Total Debt to Total Capital and Net Debt to Total Capital
                                        March 31, 2013      December 31, 2012
 Total Debt                             $        596.8     $         596.7
 Total Hubbell's Shareholders' Equity          1,696.8             1,661.2
 Total Capital                          $      2,293.6     $       2,257.9
 Total Debt to Total Capital                         26%                   26%
 Total Debt                             $        596.8     $         596.7
               Cash and cash
 Less:         equivalents                      (606.2)              (645.0)
               Investments                       (51.5)               (45.5)
 Net Debt                               $        (60.9)     $         (93.8)
 Net Debt to Total Capital                          (3%)                  (4%)
 Note: Management believes that net debt to capital is a useful measure
 regarding Hubbell's financial leverage for evaluating the Company's ability
 to meet its funding needs.
Free Cash Flow Reconciliation
                                            Three Months Ended March 31
                                            2013                 2012
 Net cash provided by operating
 activities                             $         42.7     $          45.1
 Less:         Capital Expenditures              (13.0)               (11.4)
 Free cash flow                         $         29.7     $          33.7
 Note: Management believes that free cash flow provides useful information
 regarding Hubbell's ability to generate cash without reliance on external
 financings. In addition, management uses free cash flow to evaluate the
 resources available for investments in the business, strategic acquisitions
 and further strengthening the balance sheet.

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Source: Hubbell Inc. via Thomson Reuters ONE
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