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Last $24.57 USD
Change Today +0.39 / 1.61%
Volume 36.0K
FARM On Other Exchanges
Symbol
Exchange
Berlin
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

farmer bros co (FARM) Key Developments

Farmer Bros. Co. Announces New $75 Million Senior Secured Revolving Credit Facility

Farmer Bros. Co. announced that it has entered into a new five-year $75 million senior secured revolving credit facility led by JPMorgan Chase Bank, N.A. as Administrative Agent, and SunTrust Bank, as Syndication Agent, to replace the company's existing $75 million credit facility with Wells Fargo Bank, N.A. that expired on March 2, 2015. The revolving facility includes an additional $50 million accordion feature subject to approval by applicable lenders. The company intends to use the proceeds of the revolving facility to refinance certain existing indebtedness, to finance the company's working capital needs, and to finance certain expenses and other capital expenditures related to the company's corporate relocation plan announced on February 5, 2015.

Farmer Brothers Co. Presents at 27th Annual ROTH Conference, Mar-09-2015 03:30 PM

Farmer Brothers Co. Presents at 27th Annual ROTH Conference, Mar-09-2015 03:30 PM. Venue: The Ritz Carlton, 1 Ritz Carlton Dr, Dana Point, CA 92629, United States. Speakers: Mark J. Nelson, Chief Financial Officer, Principal Accounting Officer, Treasurer and Member of Administrative Committee, Michael H. Keown, Chief Executive Officer, President, Director and Member of Administrative Committee.

Farmer Brothers to Lay Off 350 Workers

Farmer Brothers will leave the South Bay for a more business-friendly climate in another state. More than 350 employees are expected to be laid off. The company's headquarters and coffee processing plant at 20333 S. Normandie Ave. in Harbor Gateway will be shuttered, in favor of relocating to either Oklahoma City or the Dallas-Fort Worth area. The move would result in annual savings of $12 million to $15 million beginning in the latter half of 2016.

Farmer Brothers Co. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014

Farmer Brothers Co. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company's net sales increased $1.7 million, or 1.2%, to $144.8 million from $143.1 million in the second quarter of the prior fiscal year primarily due to increases in sales of coffee, tea and other beverage products. Income from operations was $3.5 million compared to $5.7 million in the second quarter of the prior fiscal year. Net income was $2.9 million, or $0.18 per diluted common share, compared to $4.7 million, or $0.29 per diluted common share, in the second quarter of the prior fiscal year. Adjusted EBITDA decreased to $11.9 million from $13.8 million in the second quarter of the prior fiscal year. Net income excluding restructuring and other transition expenses per common share diluted for the second quarter of fiscal 2015 was $0.23 compared to $0.29 in the second quarter of the prior fiscal year. Income before taxes was $3.15 million compared to $5.11 million reported a year ago. Net income excluding restructuring and other transition expenses was $3.68 million compared to $4.71 million reported a year ago. For the six months, the company's net sales were $280.8 million compared to $272.658 million reported a year ago. Income from operations was $6.106 million compared to $8.664 million reported a year ago. Net income was $5.41 million, or $0.33 per diluted common share, compared to $6.51 million, or $0.41 per diluted common share reported a year ago. Adjusted EBITDA was $22.55 million compared to $24.60 million reported a year ago. Income before taxes was $5.86 million compared to $7.22 million reported a year ago. Net income excluding restructuring and other transition expenses per diluted share was $0.39 compared to $0.41 reported a year ago. Net income excluding restructuring and other transition expenses was $6.38 million compared to $96.51 million reported a year ago. For the fiscal first half of 2015, the company’s capital expenditures were $9.4 million as compared to $12.1 million in the first half of the prior fiscal year.

Farmer Brothers Co. to Report Q2, 2015 Results on Feb 05, 2015

Farmer Brothers Co. announced that they will report Q2, 2015 results on Feb 05, 2015

 

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