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Last $6.43 USD
Change Today +0.09 / 1.42%
Volume 91.0K
SYUT On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 8:10 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

synutra international inc (SYUT) Key Developments

Synutra International, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016; Reports Impairment of Long-Lived Assets and Intangible Assets for the Fourth Quarter of 2015

Synutra International Inc. announced consolidated earnings results for the fourth quarter and full year ended March 31, 2015. For the quarter, net income rose to $24.1 million or $0.42 per diluted share from $10.1 million, or $0.42 per diluted share, a year earlier. Sales increased to $110.2 million from $98.7 million year-over-year. This increase was primarily driven by a 12.6% increase in average selling price, supported by a 5.5% increase in milk formula sales by volume over the prior year period. Income from operations was $16.6 million, an increase of 19.4% over the prior year period. Net income attributable to common stockholders was $24.1 million or $0.42 per basic share, a 138.7% increase from $10.1 million, or $0.18 per basic share, in the prior year period. Excluding the non-recurring items, non-GAAP net income attributable to common stockholders for the fourth quarter was $18.6 million, or $0.33 per basic share. Income before income tax expense was $16,750,000 against $9,897,000 a year ago. Non-GAAP income from operations was $22,419,000 against $14,921,000 a year ago. Non-GAAP net Income attributable to common stockholders was $18,637,000 against $11,134,000 a year ago. This increase in sales was primarily driven by a 12.6% increase in average selling price, supported by a 5.5% increase in milk formula sales by volume over the prior year period. For the year, sales increased to $413.9 million from $370.5 million in the prior year. Income from operations was $73.7 million compared to $41.6 million in the prior year. Net income was $72.0 million, an increase of 137.4% over $30.3 million in the prior year. One-time items that impacted net income, other than the non-recurring items, include a tax expense on the disposal gains of $3.1 million and a reversal of valuation allowances on deferred tax assets of $11.3 million. Adjusted for all non-recurring items both above and below the operating line, non-GAAP net income was $54.4 million, an increase of 75.3% compared to the prior year. Net income attributable to common stockholders was $69.5 million, or $1.21 per basic share, compared to $30.9 million, or $0.54 per basic share, in the prior year. Income before income tax expense was $67,582,000 against $30,478,000 a year ago. Non-GAAP income from operations was $64,291,000 against $42,303,000 a year ago. Non-GAAP net Income attributable to common stockholders was $51,882,000 against $31,602,000 a year ago. Capital expenditures were $95 million. The company provided earnings guidance for the fiscal year 2016. For the year, the company expects continued growth momentum in the Nutritional Food segment, mainly driven by powdered formula products, and greater operating leverage as sales expand. Total net sales are expected to be between $450 million and 500 million, as there can be more variance from the sales of bulk packaged milk and whey powder in the Other Business segment. The company expects to incur income tax expense consistent with the statutory rate of 25% in fiscal 2016 compared to the income tax benefit recorded in fiscal 2015 due to the reversal of valuation allowances of deferred tax assets. As such the company expects net income to be between $50 million and 60 million, in line with $72.0 million and $54.4 million for GAAP and non-GAAP net income in fiscal 2015, respectively. The company expects to spend over $120 million in capital expenditures. The company reported impairment of long-lived assets and intangible assets of $5,845,000 compared with $1,040,000 a year ago.

Synutra International Inc. to Report Q4, 2015 Results on Jun 12, 2015

Synutra International Inc. announced that they will report Q4, 2015 results at 5:00 PM, Eastern Standard Time on Jun 12, 2015

Synutra International Inc., Q4 2015 Earnings Call, Jun 15, 2015

Synutra International Inc., Q4 2015 Earnings Call, Jun 15, 2015

Synutra International Inc. Presents at Bernstein Asia Consumer Summit, May-12-2015

Synutra International Inc. Presents at Bernstein Asia Consumer Summit, May-12-2015 . Venue: Conrad Hotel Hong Kong, Hong Kong. Speakers: Ning Cai, Chief Financial Officer.

Synutra International Inc. Revises Earnings Guidance for the Fiscal Year 2015; Provides Earnings Guidance for the Fiscal Year 2016

Synutra International Inc. revised earnings guidance for the fiscal year 2015 and provided earnings guidance for the fiscal year 2016. For the fiscal year 2015, the company expects sales guidance in the range of $410 million to $420 million, including infant formula sales of $380 million to $390 million. Meanwhile, to narrow net income guidance and are increasing the bottom end of net income target range to $60 million to $65 million, from $55 million to $65 million for fiscal 2015. The company expects to pay an effective tax rate in the range of 15% to 25% for fiscal 2016. That net income will remain flat or decline slightly year-over-year in 2016, expect profit growth to be in the range of 15% to 20%.

 

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SYUT

Industry Average

Valuation SYUT Industry Range
Price/Earnings 5.2x
Price/Sales 0.9x
Price/Book 3.2x
Price/Cash Flow 5.2x
TEV/Sales NM Not Meaningful
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