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Last $29.61 USD
Change Today +0.11 / 0.37%
Volume 163.6K
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

om group inc (OMG) Key Developments

OM Group, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for 2015

OM Group Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales were $245.4 million against $270.5 million a year ago. Operating loss was $196.0 million against profit of $5.9 million a year ago. Loss from continuing operations, net of tax was $189.0 million against profit of $17.3 million a year ago. Diluted loss per share from continuing operations attributable to OM Group Inc. common stockholders was $6.24 against $0.54 diluted earnings per share a year ago. Net loss attributable to OM Group Inc. common stockholders was $189.0 million or $6.24 diluted per share against profit of $17.2 million or $0.54 diluted per share a year ago. Net cash provided by operating activities was $41.6 million against $33.1 million a year ago. Expenditures for property, plant and equipment were $16.3 million against $24.7 million a year ago. Adjusted EBITDA was $20.2 million against $25.7 million a year ago. Adjusted income from continuing operations attributable to OM Group Inc. common stockholders was $1.2 million or $0.04 diluted per share against $7.7 million or $0.24 diluted per share a year ago. The increase in cash provided by operating activities was driven by a $33 million reduction in net working capital. For the year, the company reported net sales were $1,067.5 million against $1,157.5 million a year ago. Operating loss was $165.1 million against profit of $41.1 million a year ago. Loss from continuing operations, net of tax was $172.3 million against $73.5 million a year ago. Diluted loss per share from continuing operations attributable to OM Group Inc. common stockholders was $5.54 against $2.27 diluted per share a year ago. Net loss attributable to OM Group Inc. common stockholders was $172.6 million or $5.55 diluted per share against $84.0 million or $2.66 diluted per share a year ago. Net cash provided by operating activities was $85.4 million against $62.9 million a year ago. Expenditures for property, plant and equipment were $34.5 million against $53.1 million a year ago. Adjusted EBITDA was $107.8 million against $124.5 million a year ago. Adjusted income from continuing operations attributable to OM Group Inc. common stockholders was $22.4 million or $0.71 diluted per share against $36.4 million or $1.14 diluted per share a year ago. The company recorded a $1.3 million FX loss in the current-year period, mostly due to the declining euro's effect on VAC acquisition holdback. The company is expecting adjusted pro forma EBITDA of $105 million to $115 million in 2015. Ongoing effective income tax rate in 2014 was 23%, in line with expectations and consistent with 2015 expectations of a mid-20's rate.

OM Group Inc. to Report Q4, 2014 Results on Mar 02, 2015

OM Group Inc. announced that they will report Q4, 2014 results at 10:00 AM, US Eastern Standard Time on Mar 02, 2015

OM Group Inc., Q4 2014 Earnings Call, Mar 02, 2015

OM Group Inc., Q4 2014 Earnings Call, Mar 02, 2015

OM Group Inc. Declares Quarterly Cash Dividend, Payable on March 6, 2015

OM Group Inc. announced that its Board of Directors declared a 10% increase in its quarterly cash dividend, from $0.075 per share to $0.0825 per share, payable on March 6, 2015, to stockholders of record as of February 23, 2015.

OM Group Nominates David A. Lorber, Thomas R. Miklich and Allen A. Spizzo to its Board

FrontFour Capital Group LLC announced has delivered a formal nomination of three highly-qualified director candidates, David A. Lorber, Thomas R. Miklich and Allen A. Spizzo, for election to the board of directors of OM Group at the upcoming 2015 annual meeting of the company's shareholders. David A. Lorber -- a Co-Founder of FrontFour Capital Group LLC, an investment adviser, and has served as a Portfolio Manager since January 2007. He is also a Co-Founder of FrontFour Capital Corp. and has been a Principal since January 2011. Previously, Mr. Lorber was a Senior Investment Analyst at Pirate Capital LLC from 2003 to 2006. Thomas R. Miklich -- a director of Quality Distribution Inc. since May 2005. He has also served as a director of Noranda Aluminum Holding Corporation since January 2008. Previously, Mr. Miklich served as Vice President and Chief Financial Officer from July 2010 to April 2012 and as Senior Advisor to the Chief Executive Officer until his retirement in July 2012, of Ferro Corporation. Allen A. Spizzo -- a business and management consultant focused on the chemicals, materials, biotechnology and pharmaceutical industries, since November 2008, and he also serves as an investment adviser and asset management trustee. He served as Vice President and Chief Financial Officer of Hercules Incorporated from March 2004 until the company was sold to Ashland Inc. in November 2008.

 

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Price/Earnings NM Not Meaningful
Price/Sales 0.8x
Price/Book 1.1x
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TEV/Sales 0.7x
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