hillenbrand inc (HI) Key Developments
Hillenbrand, Inc. Proposes Amendment to the Restated and Amended Articles of Incorporation
Jan 7 15
Hillenbrand, Inc. at its Annual Meeting to be held on February 25, 2015, proposed amendment to the company’s Restated and Amended Articles of Incorporation to establish Indiana as the exclusive forum for adjudication of certain disputes and amendment to the company’s Restated and Amended Articles of Incorporation to establish a majority voting standard for shareholder elections of directors.
Hillenbrand Increases Quarterly Dividend Payable December 31, 2014
Dec 3 14
The board of directors of Hillenbrand, Inc. has declared a regular quarterly cash dividend of $0.20 per share on the company's common stock. On an annual basis, this is an increase of $0.01 per share to a total rate of $0.80 per share in fiscal year 2015. The dividend is payable December 31, 2014, to shareholders of record at the close of business on Dec. 17, 2014.
Hillenbrand, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2014; Provides Earnings Guidance for the Year 2015
Nov 19 14
Hillenbrand, Inc. reported consolidated earnings results for the fourth quarter and year ended September 30, 2014. For the quarter, net revenue was $468.7 million compared to $440.9 million a year ago. Operating profit was $43.0 million compared to $42.7 million a year ago. Income before income taxes was $36.2 million compared to $35.2 million a year ago. Consolidated net income was $22.9 million or $0.37 per diluted share compared to $23.9 million or $0.37 per diluted share a year ago. Net income increased 2% to $23.6 million or $0.37 per diluted share, while adjusted net income increased 24% to $39.2 million or $0.61 per diluted share. Adjusted EBITDA increased 21% to $82.3 million.
For the year, net revenue was $1,667.2 million compared to $1,553.4 million a year ago. Operating profit was $174.5 million compared to $118.1 million a year ago. Income before income taxes was $159.9 million compared to $93.7 million a year ago. Consolidated net income was $111.2 million or $1.72 per diluted share compared to $65.4 million or $1.01 per diluted share a year ago. Net cash provided by operating activities was $179.6 million compared to $127.2 million a year ago. Net income increased 73% to $109.7 million or $1.72 per diluted share. On an adjusted basis, net income increased 11% to $131.6 million or $2.06 per diluted share. Adjusted EBITDA increased 11% to $275.5 million. Operating cash flow improved by $52 million to $180 million due to higher net income and improvement in working capital.
The company expects 2015 revenue growth of 2-4% on a constant currency basis. Revenue from the Process Equipment Group is projected to grow 4-6% on a constant currency basis and Batesville is expected to deliver revenue in line with 2014. Given current foreign exchange rates, management expects a 4% negative translation impact to revenue compared to 2014. Adjusted diluted EPS for 2015 is projected to range from $2.05 to $2.15, this would yield approximately 3% to 9% earnings growth. The company had a couple of discrete items in the fourth quarter that significantly impacted adjusted tax rate. For 2015, the company expects to return to historical levels, right about 30% for the year.
Hillenbrand, Inc. Announces Executive Changes
Nov 18 14
On November 17, 2014, Elizabeth E. Dreyer, Vice President, Controller, and Chief Accounting Officer of Hillenbrand, Inc. submitted to the company her resignation, effective January 2, 2015. The company has appointed Theodore S. Haddad, its former Chief Accounting Officer and currently its Vice President and Treasurer, to serve as the company's Chief Accounting Officer while it searches for Ms. Dreyer's successor.
Hillenbrand, Inc. to Report Q4, 2014 Results on Nov 19, 2014
Nov 12 14
Hillenbrand, Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Nov 19, 2014