enpro industries inc (NPO) Key Developments
Enpro Industries Announces Exchange Offer for 5.875% Senior Notes Due 2022
May 13 15
EnPro Industries, Inc. announced that it has commenced an offer to exchange up to $300 million of 5.875% Senior Notes due 2022, which have been registered under the Securities Act of 1933, as amended, for its outstanding unregistered 5.875% Senior Notes due 2022 (CUSIP Nos. 29355X AC1 and U29300 AA5). The exchange offer is being conducted to satisfy the company’s obligations under the terms of registration rights agreement entered into in connection with the sale of the Original Notes completed on September 16, 2014 and does not represent a new financing transaction. The company will not receive any proceeds from the exchange offer. The terms of the New Notes are substantially identical to those of the Original Notes, except that certain transfer restrictions, registration rights and additional interest provisions related to the registration rights applicable to the Original Notes do not apply to the New Notes. The exchange offer will expire at 5:00 p.m., New York City time, on June 11, 2015, unless it is extended or terminated. Holders must tender their Original Notes on or prior to the expiration time if they wish to participate in the exchange offer. Tenders of Original Notes may be validly withdrawn at any time on or prior to the expiration time.
EnPro Industries, Inc. Presents at Oppenheimer 10th Annual Industrial Growth Conference, May-12-2015 04:25 PM
May 6 15
EnPro Industries, Inc. Presents at Oppenheimer 10th Annual Industrial Growth Conference, May-12-2015 04:25 PM. Venue: Westin New York Grand Central, 212 East 42nd Street, New York, NY 10017, United States. Speakers: J. Milton Childress, Chief Financial Officer and Senior Vice President.
EnPro Industries, Inc. Provides Earnings Guidance for the Year 2015
Apr 30 15
EnPro Industries, Inc. provided earnings guidance for the year 2015. For the period, the company expects a revenue growth range of negative 3.2% to a positive 0.1% and profit margins between 11.4% and 12%, based on an exchange rate of $1.08 per euro. The guidance did not include the $6.2 million loss provision taken in the first quarter nor any restructuring or acquisition-related charges.
EnPro Industries, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 30 15
EnPro Industries, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported consolidated net sales of $277.5 million in the first quarter of 2015, a $9.7 million or 3% decrease from the first quarter of 2014 of $287.2 million. Excluding the impact of acquisitions, divestitures and the unfavorable effect of foreign exchange, sales were about the same as in the first quarter of 2014. The company recorded a net loss in the first quarter of 2015 of $1.6 million, or $0.07 per diluted share, compared to net income of $1.3 million, or $0.05 per diluted share, in the first quarter of 2014. Before selected items, including interest due to the deconsolidated Garlock Sealing Technologies LLC (GST) subsidiary, a loss on the exchange and repurchase of convertible securities, restructuring costs and other items, adjusted net income was $5.8 million, or $0.25 a share. In the first quarter of 2014, adjusted net income was $9.8 million, or $0.44 a share. Consolidated earnings before interest, income taxes, depreciation and amortization and other selected items (adjusted EBITDA) were $27.7 million in the first quarter of 2015, a 14% decrease over the first quarter of 2014, when adjusted EBITDA was $32.2 million. Operating income was $11.4 million against $17.4 million a year ago. Loss before income taxes $5.6 million against income before income taxes of $2.3 million a year ago. Net cash used in operating activities was $21.5 million against $25.0 million a year ago. Purchases of property, plant and equipment was $9.1 million against $6.7 million a year ago. EBITDA was $36.0 million against $43.2 million a year ago.
EnPro Industries Declares Regular Quarterly Dividend, Payable on June 15, 2015
Apr 29 15
EnPro Industries, Inc. declared a regular quarterly dividend of $0.20 per share. The dividend is payable on June 15, 2015 to shareholders of record as of the close of business on June 1, 2015.