kewaunee scientific cp (KEQU) Key Developments
Kewaunee Scientific Corporation Announces Increase in the Quarterly Cash Dividend, Payable on September 21, 2015
Aug 26 15
Kewaunee Scientific Corporation announced its board of directors approved an 8% increase in the quarterly cash dividend to thirteen cents per outstanding share, from twelve cents per outstanding share payable on September 21, 2015 to stockholders of record at the close of business on September 8, 2015.
Kewaunee Scientific Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended July 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
Aug 25 15
Kewaunee Scientific Corp. reported unaudited consolidated earnings results for the first quarter ended July 31, 2015. For the quarter, sales were $31,089,000, compared to $30,534,000 in the first quarter last year. Operating earnings were $1,524,000 against $1,800,000 a year ago. Earnings before income taxes were $1,534,000 against $1,845,000 a year ago. Net earnings were $963,000 against $1,260,000 a year ago. Net earnings were $940,000 or $0.35 per diluted share against $1,234,000 or $0.47 per diluted share a year ago. Earnings for the quarter were unfavorably impacted by the shipments of the remaining orders in the backlog that were bid in the prior year at extremely competitive pricing. This impact was due to a major competitor exiting the marketplace, and to a lesser extent, by a higher effective income tax rate.
The company expects continue to experience sales growth in fiscal year 2016. It expects earnings to improve this fiscal year as the United States economy continues its recovery and the marketplace adjusts to the impact of the former competitor leaving the industry.
Kewaunee Scientific Corp., Annual General Meeting, Aug 26, 2015
Jul 23 15
Kewaunee Scientific Corp., Annual General Meeting, Aug 26, 2015., at 10:00 Central Standard Time. Location: The Conference Center at UBS Tower. Agenda: To elect three Class II directors; to consider and vote on a proposal to approve the Amended and Restated 2008 Key Employee Stock Option Plan; to ratify the appointment of the Independent Registered Public Accounting Firm of Cherry Bekaert LLP as the Company's independent auditors for fiscal year 2016; to hold an advisory vote on executive compensation; and to transact such other business as may properly come before the meeting.
D. Michael Parker to Retire as Kewaunee Scientific Corporation's Senior Vice President, Chief Financial Officer, Treasurer, and Secretary
Jul 16 15
Kewaunee Scientific Corporation announced that D. Michael Parker, its Senior Vice President, Chief Financial Officer, Treasurer, and Secretary, has announced his plans to retire by the end of calendar year 2015, completing a successful 25-year career with the
company, including the last 20 years as its CFO, Treasurer, and Secretary. Mr. Parker also manages the investor relations function for the Company and serves on the boards of the Company's foreign subsidiaries. He remains CFO and will continue with the company through his retirement date to ensure a smooth transition process.
Kewaunee Scientific Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended April 30, 2015
Jun 23 15
Kewaunee Scientific Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended April 30, 2015. For the quarter, the company reported net sales of $30.282 million compared to $27.052 million a year ago. Operating earnings were $0.970 million compared to $1.460 million a year ago. Earnings before income taxes were $1.018 million compared to $1.493 million a year ago. Net earnings attributable to the company were $0.609 million or 0.23 per diluted share compared to $0.979 million or 0.37 per diluted share a year ago.
For the year, the company reported net sales of $118.828 million compared to $111.166 million a year ago. Operating earnings were $5.226 million compared to $5.964 million a year ago. Earnings before income taxes were $5.385 million compared to $5.986 million a year ago. Net earnings attributable to the company were $3.529 million or 1.33 per diluted share compared to $3.895 million or 1.48 per diluted share a year ago. Very competitive pricing in the domestic laboratory furniture marketplace, particularly for large higher education projects in the second half of the year, impacted earnings and profit margins for the year.