Alamo Group Inc. Declares Regular Quarterly Dividend, Payable October 29, 2015
Oct 1 15
Alamo Group Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share, payable October 29, 2015, to shareholders of record at the close of business on October 15, 2015.
Alamo Group, Inc., Board Meeting, Aug 06, 2015
Aug 7 15
Alamo Group, Inc., Board Meeting, Aug 06, 2015. Agenda: To consider the election of Mr. Robert P. Bauer and Mr. Eric Etchart as directors of the company.
Alamo Group, Inc. Announces the Appointment of Two New Board Members
Aug 6 15
Alamo Group Inc. announced the appointment of two new independent directors to its Board, Eric Etchart and Bob Bauer. These additions are being made in response to the anticipated retirement of two existing directors, Jim Skaggs and Jerry Goldress, both of whom have expressed their interest in retiring prior to the end 2015. Mr. Etchart, 59, was President and General Manager of the Manitowoc Crane Group until January 2015 at which time he joined the corporate group as Senior Vice President of business development of the Manitowoc Company, Inc. Mr. Bauer, 56, is President, CEO and a director at L. B. Foster Company. He has been with L.B. Foster since 2012 and prior to that was with Emerson Electric for 18 years. Mr. Bauer has been involved in all aspects of international manufacturing companies for over 30 years.
Alamo Group, Inc. Announces Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 6 15
Alamo Group, Inc. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total sales of $215,734,000 against $207,751,000 a year ago. The second quarter results include the net effect of the acquisition of the units of Specialized Industries which was completed in May 2014, and to a lesser extent, the effects of the acquisition of Herder in Brazil, which occurred in March 2015. The net effect of these acquisitions added $16.0 million to sales in the second quarter. Income from operations was $16,435,000 against $14,796,000 a year ago. Income before income taxes was $15,116,000 against $13,940,000 a year ago. Net income was $9,710,000 against $9,195,000 a year ago. Net income per diluted common share was $0.84 against $0.75 a year ago. Adjusted operating income – non GAAP was $17,604,000 against $14,796,000 a year ago. Adjusted net income-non GAAP was $10,461,000 against $9,195,000 a year ago. Adjusted diluted earnings per share were $0.90 against $0.75 a year ago. Excluding the results of the acquired units and related transaction costs and interest, net income for the second quarter was approximately $9.1 million. Net income for the quarter was negatively impacted by significant acquisition-related expenses, accelerated stock option vesting, as well as weaker performance in the company's North American Agricultural Division primarily due to overall soft agricultural market conditions.
For the six months, the company reported total sales of $423,532,000 against $380,361,000 a year ago. Excluding recent acquisitions, net sales were a record $353.2 million, an increase of 5%. Income from operations was $28,563,000 against $25,427,000 a year ago. Income before income taxes was $26,533,000 against $24,867,000 a year ago. Net income was $17,069,000 against $16,433,000 a year ago. Net income per diluted common share was $1.49 against $1.34 a year ago. Adjusted operating income – non GAAP was $31,764,000 against $25,427,000 a year ago. Adjusted net income-non GAAP was $19,128,000 against $16,433,000 a year ago. Adjusted diluted earnings per share were $1.67 against $1.34 a year ago. Excluding the net effect of the acquisitions referenced previously, plus adjusting for the acquisition of Fieldquip in Australia and Kellands in the U.K., both of which were completed at the beginning of the second quarter of 2014, net sales for the first half of 2015 were $341.1 million.
Alamo Group, Inc. to Report Q2, 2015 Results on Aug 05, 2015
Jul 30 15
Alamo Group, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015