Last $11.47 USD
Change Today +0.05 / 0.44%
Volume 1.1K
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As of 9:30 AM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

hardinge inc (HDNG) Key Developments

Hardinge Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Sales Guidance for the First Quarter of 2015

Hardinge Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported sales of $93,008,000 against $103,101,000 a year ago. Income from operations was $5,086,000 against $1,311,000 a year ago. Income from continuing operations before income taxes was $4,930,000 against $1,045,000 a year ago. Net income from continuing operations was $4,542,000 or $0.35 per diluted share against $1,126,000 or $0.09 per diluted share a year ago. Net income was $4,542,000 or $0.35 per diluted share against $6,143,000 or $0.50 per diluted share a year ago. Adjusted net income was $4,663,000 or $0.36 per basic and diluted share compared to $8,408,000 or $0.68 per basic and diluted share a year ago. Non-GAAP income from operating as adjusted was $5,207,000 against $8,593,000 a year ago. For the year, the company reported net sales of $311,633,000 against $329,459,000 a year ago. Loss from operations was $477,000 against income from operations of $6,996,000 a year ago. Loss from continuing operations before income taxes was $1,125,000 against profit of $5,932,000 a year ago. Net loss from continuing operations was $2,358,000 or $0.19 per diluted share against profit of $4,395,000 or $0.37 per diluted share a year ago. Net loss was $2,140,000 or $0.17 per diluted share against profit of $9,927,000 or $0.83 per diluted share a year ago. Net cash provided by operating activities was $3,179,000 against $25,828,000 a year ago. Capital expenditures were $3,186,000 against $3,871,000 a year ago. Adjusted net income was $2,824,000 or $0.22 per share compared to $14,889,000 or $1.25 per diluted share a year ago. Non-GAAP income from operating as adjusted was $5,064,000 against $17,316,000 a year ago. The decline from the prior year was mostly the result of lower sales and under absorption of fixed costs due to lower production volumes in the company's grinding operations. Full year EBITDA was around $15 million. The last year was unusually high due to a shipment of Usach products. Acknowledging the first quarter of last year, around $71 million in sales and given the high level of shipments the company had in the fourth quarter of 2014, the company actually expects the first quarter to be somewhere around that $71 million number in terms of sales for the first quarter of 2015.

Hardinge Inc. Declares Quarterly Cash Dividend, Payable on March 9, 2015

Hardinge Inc. announced that its Board of Directors has approved payment of a regular quarterly cash dividend of $0.02 per common share. The dividend is payable on March 9, 2015 to stockholders of record at the close of business on February 27, 2015.

Hardinge Inc. to Report Q4, 2014 Results on Feb 12, 2015

Hardinge Inc. announced that they will report Q4, 2014 results at 11:00 AM, US Eastern Standard Time on Feb 12, 2015

Hardinge Inc., Q4 2014 Earnings Call, Feb 12, 2015

Hardinge Inc., Q4 2014 Earnings Call, Feb 12, 2015

Hardinge Inc. Presents at Sidoti & Company Emerging Growth Institutional Investor Forum, Jan-12-2015

Hardinge Inc. Presents at Sidoti & Company Emerging Growth Institutional Investor Forum, Jan-12-2015 . Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: Douglas J. Malone, Chief Financial Officer and Vice President, Richard L. Simons, Chairman, Chief Executive Officer and President.

 

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