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Last $17.85 USD
Change Today +0.345 / 1.97%
Volume 1.3K
SPAN On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

span-america medical sys inc (SPAN) Key Developments

Span-America Medical Systems, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended June 27, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015

Span-America Medical Systems Inc. announced earnings results for the third quarter and nine months ended June 27, 2015. For the quarter, the company’s net sales rose 19% to $15.8 million compared with $13.3 million in the third quarter of fiscal 2014. The sales increase was due to solid growth in volume from medical and custom products business units. Net income increased by 155% to $963,000, or $0.32 per diluted share, compared with $378,000, or $0.13 per diluted share, in the third quarter of fiscal 2014. Operating income increased by 134% to $1.3 million compared with $563,000 in the third quarter last year. The increases in operating income and net income were the result of a 19% increase in sales volume, a slightly more profitable sales mix in the medical segment and lower rates of growth in operating expenses compared with the third quarter of last fiscal year. For the nine months, total sales rose 9% to $46.6 million compared with $42.8 million in the first nine months of last fiscal year. The growth in fiscal 2015 year-to-date sales came from higher volumes in medical segment and, to a lesser extent, higher demand for industrial product lines compared with the same period in fiscal 2014. Net income increased 40% to $2.7 million, or $0.90 per diluted share, compared with $1.9 million, or $0.65 per diluted share, in the same period last year. The increase in earnings for the first nine months of fiscal 2015 was the result of higher sales volume in medical segment, particularly among M.C. Healthcare product lines. Cash flow from operations or the year-to-date through June was $4.0 million, which was an increase of 31% compared with cash flow of $3.1 million for the first 9 months of last year. The majority of the increase in cash flow was the result of 40% increase in earnings through the first 9 months of fiscal 2015 compared with the same period last year. The company expects that its sales and earnings for the fourth quarter of fiscal year 2015 will be higher than last year’s fourth quarter due to anticipated growth in medical and custom products sales.

Span-America Medical Systems, Inc. Announces Increased Quarterly Cash Dividend, Payable on September 3, 2015

Span-America Medical Systems Inc. announced that the board of directors increased the quarterly cash dividend to $0.16 per share, an increase of 6.7% from the previous quarterly dividend of $0.15 per share. The dividend is payable on September 3, 2015, to shareholders of record on August 18, 2015.

Span-America Medical Systems Inc. to Report Q3, 2015 Results on Aug 05, 2015

Span-America Medical Systems Inc. announced that they will report Q3, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

Span-America Medical Systems Inc., Q3 2015 Earnings Call, Aug 06, 2015

Span-America Medical Systems Inc., Q3 2015 Earnings Call, Aug 06, 2015

Major Retail Customer Selects Span-America Medical Systems, Inc. as Supplier of Consumer Bedding Products for the Seasonal Promotion

Span-America Medical Systems Inc. announced that it was notified by a major retail customer that the company has been selected as a supplier of consumer bedding products for the retailer's seasonal promotion in the fall of 2015. The company expects that the promotion will be comparable in size to the promotions in which Span-America participated during the fall seasons of fiscal years 2012 and 2013.

 

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Industry Analysis

SPAN

Industry Average

Valuation SPAN Industry Range
Price/Earnings 16.1x
Price/Sales 0.9x
Price/Book 1.9x
Price/Cash Flow 16.0x
TEV/Sales 0.8x
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