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Last $4.93 USD
Change Today -0.02 / -0.40%
Volume 45.6K
JASN On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

jason industries inc (JASN) Key Developments

Jason Industries, Inc. Appoints Two New Independent Directors

Jason Industries, Inc. announced the appointment of two new independent board members. Joining the company's board of directors effective September 1, 2015, are Mitchell I. Quain and James E. Hyman, expanding the board from nine to eleven members, ten of whom are independent. Mitchell I. Quain is a Senior Advisor to The Carlyle Group, L.P. He was a Partner of One Equity Partners from 2010 through 2011. Mr. Quain is currently Chairman of the board of directors of Magnetek, Inc., and a director of Astro-Med, Inc., RBC Bearings Incorporated, Hardinge Inc. and Tecumseh Products Company. James E. Hyman has served as President and Chief Executive Officer of Community Education Centers, since January 2015.

Jason Industries, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 26, 2015; Reaffirms Earnings Guidance for the Full Year of 2015

Jason Industries, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 26, 2015. For the quarter, net sales were $187,578,000 against $190,615,000 a year ago. Operating income was $7,387,000 against $9,004,000 a year ago. Loss before income taxes was $221,000 against income before income taxes was $5,825,000 a year ago. Net loss attributable to the company was $719,000 against net income attributable to the company was $5,237,000 a year ago. Net loss available to common shareholders of the company was $1,619,000 against net income available to common shareholders of the company was $5,237,000 a year ago. Basic and diluted net loss per share available to common shareholders of the company was $0.07 against basic and diluted net income per share available to common shareholders of the company was $5,237 a year ago. Adjusted Adjusted EBITDA was $24.9 million, or 13.3% of net sales, compared with $23.8 million, or 12.5% of net sales. Adjusted EBITDA margin expansion of 80 bps was driven by significant operational improvements in Acoustics and lower input costs on metals products in Components. The Adjusted EBITDA increase of $1.1 million was negatively impacted by $1.0 million, or 4.2%, of foreign currency translation. EBITDA was $19,169,000 compared with $16,292,000 a year ago. Adjusted net income was $3,361,000 compared with $9,867,000 a year ago. For the six months, net sales were $363,414,000 against $377,151,000 a year ago. Operating income was $12,935,000 against $20,825,000 a year ago. Loss before income taxes was $1,862,000 against income before income taxes was $18,052,000 a year ago. Net loss attributable to the company was $1,462,000 against net income attributable to the company was $12,972,000 a year ago. Net loss available to common shareholders of the company was $3,262,000 against net income available to common shareholders of the company was $12,972,000 a year ago. Basic and diluted net loss per share available to common shareholders of the company was $0.15 against basic and diluted net income per share available to common shareholders of the company was $12,972 a year ago. Adjusted EBITDA was $18,871,000 against $16,973,000 a year ago. Net cash provided by operating activities was $21,255,000 compared with $4,241,000 a year ago. Payments for property, plant and equipment was $15,318,000 compared with $10,998,000 a year ago. For the full year of fiscal 2015, the company reaffirms its previous outlook of net sales in the range of $708 to $723 million and adjusted EBITDA in the range of $87 to $91 million. On a constant currency basis, expected organic sales growth would be in the range of 2% to 4%.

Jason Industries, Inc. to Report Q2, 2015 Results on Jul 31, 2015

Jason Industries, Inc. announced that they will report Q2, 2015 results Pre-Market on Jul 31, 2015

Jason Industries, Inc., Q2 2015 Earnings Call, Jul 31, 2015

Jason Industries, Inc., Q2 2015 Earnings Call, Jul 31, 2015

Jason Industries, Inc. Announces Quarterly Dividend on Preferred Stock, Payable on July 1, 2015

Jason Industries, Inc. announced that its Board of Directors has declared a quarterly cash dividend payment on the company's 8.0% Series A Convertible Perpetual Preferred Stock. The dividend on the Series A Preferred Stock will be payable on July 1, 2015, to holders of record at the close of business on May 15, 2015. The quarterly payment will be $20.00 per share.

 

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