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Last C$17.00 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 4:00 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

intertape polymer group inc (ITP) Snapshot

Open
C$16.85
Previous Close
C$16.77
Day High
C$17.18
Day Low
C$16.79
52 Week High
02/25/15 - C$20.57
52 Week Low
05/15/14 - C$11.70
Market Cap
1.0B
Average Volume 10 Days
321.5K
EPS TTM
C$0.64
Shares Outstanding
59.8M
EX-Date
03/17/15
P/E TM
22.0x
Dividend
C$0.51
Dividend Yield
3.01%
Current Stock Chart for INTERTAPE POLYMER GROUP INC (ITP)

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intertape polymer group inc (ITP) Details

Intertape Polymer Group Inc. develops, manufactures, and sells packaging products in Canada, the United States, and internationally. It offers paper and film based tapes, including carton sealing tapes, such as hot melt, acrylic, natural rubber, and water-activated tapes; and industrial and specialty tapes comprising paper, flatback, duct, double-coated, foil, electrical and electronic, and filament tapes, as well as stencil products. The company sells its tape products to industrial distributors and retailers under the Intertape, Central, American, Anchor, and Crowell brands, as well as to third parties under private brands. It also provides polyethylene and specialized polyolefin films, such as shrink films, stretch wraps, and air pillows under the SuperFlex, StretchFlex, ExlfilmPlus, Exlfilm, and iCushion brands to industrial distributors and retailers, as well as to third parties under private brands; and packaging systems under the Interpack brand name for use in production lines at the packaging level, and fulfillment industries. In addition, the company offers woven coated fabrics, such as building and construction products comprising lumber wraps, membrane structure fabrics, and roof underlayment; agro-environmental products comprising geomembrane fabrics, hay wraps, and poultry fabrics; specialty fabrics; industrial packaging products; and flexible intermediate bulk containers to end-users in various industries, including lumber, construction, and agriculture industries. Further, it provides carton closing systems, including automatic and semi-automatic carton sealing equipment. The company markets its products through a network of paper, packaging, and industrial distributors. Intertape Polymer Group Inc. was founded in 1981 and is headquartered in Montreal, Canada.

Founded in 1981

intertape polymer group inc (ITP) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $525.0K
Chief Financial Officer
Total Annual Compensation: $222.3K
Senior Vice President of Operations
Total Annual Compensation: $339.9K
Senior Vice President of Logistics & Supply C...
Total Annual Compensation: $302.4K
Corporate Controller
Total Annual Compensation: $200.4K
Compensation as of Fiscal Year 2014.

intertape polymer group inc (ITP) Key Developments

Intertape Polymer Group Inc. Launches New Air Pillow Machine Solution

Intertape Polymer Group Inc. launched an air pillow machine solution, the AP7000. Securely brace products during transit and ship clean, professional-looking packages with the AP7000 Air Pillow System. Designed for medium to large packaging operations, the AP7000 produces 90 pillows (8"x8") per minute. Air pillows are lightweight, perforated for easy separation and made of nonabrasive poly which will not scratch the surface of products. They are reusable and recyclable, with disposal requiring little volume in landfills when deflated.

Intertape Polymer Group Inc. Declares Dividend for the Fourth Quarter Ended December 31, 2014, Payable on March 31, 2015

The Board of Directors of Intertape Polymer Group Inc. declared a dividend for the fourth quarter ended December 31, 2014 of $0.12 per common share payable on March 31, 2015 to shareholders of record at the close of business March 19, 2015.

Intertape Polymer Group Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Second Half of 2015 and Provides Capital Expenditure Guidance for the Year 2015

Intertape Polymer Group Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported revenue for the fourth quarter of 2014 decreased 4.0% from $209.1 million for the third quarter of 2014. The decrease in revenue was primarily due to a decrease in average selling price, including the impact of product mix, of approximately 4% primarily related to a shift in the mix from higher sales of certain tape products. Net earnings for the fourth quarter of 2014 totaled $6.1 million or $0.10 diluted earnings per share, a $47.6 million decrease from $53.6 million or $0.86 diluted earnings per share for the same period in 2013. Adjusted EBITDA totaled $20.6 million for the fourth quarter of 2014, a 14.0% decrease from $24.0 million for the same period in 2013 and a 24.0% decrease from $27.1 million for the third quarter of 2014. The decrease in adjusted EBITDA compared to the fourth quarter of 2013 was primarily due to higher professional fees, higher variable compensation expenses and lower gross profit. The decrease in adjusted EBITDA compared to the third quarter of 2014 was primarily due to lower gross profit. Adjusted net earnings totaled $11.9 million or $0.19 diluted adjusted earnings per share for the fourth quarter of 2014, a $40.5 million decrease from $52.4 million or $0.84 diluted adjusted earnings per share for the same period in 2013. The decrease was primarily due to the $43 million income tax benefit recorded during the year ended December 31, 2013, to recognize the previously derecognized U.S. deferred tax assets. Free cash flows increased in the fourth quarter of 2014 by $16.2 million to an inflow of $26.8 million from an inflow of $10.6 million for the same period in 2013, primarily due to a decrease in inventory and lower capital expenditures. EBITDA was $16.3 million compared to $22.3 million a year ago. Cash flows from operating activities were $33.8 million against $22.9 million a year ago. Purchases of property, plant and equipment and other assets was $7.0 million against $12.3 million a year ago. Earnings before income tax expense (benefit) was $7.2 million compared to $14.3 million a year ago. For the year, the company reported revenue for the year ended December 31, 2014 was $812.7 million, a 4.0% increase from $781.5 million in 2013. Net earnings for the year ended December 31, 2014 totaled $35.8 million or $0.58 diluted earnings per share, a $31.5 million decrease from $67.4 million or $1.09 diluted earnings per share in 2013. Adjusted EBITDA totaled $103.9 million for the year ended December 31, 2014, a 0.8% increase from $103.1 million in 2013, primarily due to an increase in gross profit partially offset by an increase in professional fees, research expenses, credit insurance coverage for accounts receivable and the non-recurrence of a bad debt recovery recorded in 2013. Adjusted net earnings totaled $52.4 million or $0.84 diluted adjusted earnings per share for the year ended December 31, 2014, a $51.0 million decrease from $103.4 million or $1.68 diluted adjusted earnings per share in 2013. Free cash flows increased in 2014 by $11.0 million to an inflow of $46.3 million from an inflow of $35.3 million in 2013, primarily due to lower capital expenditures and an increase in gross profit. EBITDA was $91.1 million compared to $65.9 million a year ago. Cash flows from operating activities were $86.9 million against $82.2 million a year ago. Purchases of property, plant and equipment and other assets was $40.6 million against $46.8 million a year ago. Earnings before income tax expense (benefit) was $58.7 million compared to $31.6 million a year ago. Net debt was $114.9 million compared to $127.3 million a year ago. Return on equity was 15.7% compared to 29.2% a year ago. The company anticipates the first quarter of 2015 revenue to be lower than the first quarter of 2014 primarily due to the temporary impact on demand from the de-stocking of inventory by customers, and a decline in average selling price mainly in film products, both due to the recent decline in resin and crude oil prices. Gross margin and adjusted EBITDA in the first quarter of 2015 are also anticipated to be lower than the first quarter of 2014 due to the factors mentioned above, as well as the impact of the South Carolina Duplicate Overhead Costs as the company continue its major transition of operations in the first half of 2015. The company anticipates approximately $2.3 million in South Carolina Duplicate Overhead Costs in the first quarter of 2015 of which approximately $0.7 million are non-cash charges and will not affect adjusted EBITDA. Duplicate Overhead Costs are expected to total approximately $3.7 million in the first half of the year. The company expects a related negative impact for profitability in the first quarter of 2015, with gross margin and adjusted EBITDA expected to be lower than the first quarter of 2014. For the second half of 2015, The company expects gross margin between 22% and 24%. Total capital expenditures for 2015 are currently expected to be between $32 and $37 million excluding any additional high-return projects identified throughout the year. Income taxes for 2015 are still expected to result in a 30% to 35% effective tax rate and full utilization of US net operating losses towards the end of 2015.

 

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Industry Analysis

ITP

Industry Average

Valuation ITP Industry Range
Price/Earnings 23.9x
Price/Sales 1.0x
Price/Book 3.7x
Price/Cash Flow 23.0x
TEV/Sales 0.9x
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