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Last C$14.65 CAD
Change Today -0.08 / -0.54%
Volume 607.7K
ITP On Other Exchanges
Symbol
Exchange
OTC US
Toronto
As of 4:00 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

intertape polymer group inc (ITP) Snapshot

Open
C$14.74
Previous Close
C$14.73
Day High
C$14.84
Day Low
C$14.43
52 Week High
02/25/15 - C$20.57
52 Week Low
08/24/15 - C$13.67
Market Cap
873.5M
Average Volume 10 Days
850.7K
EPS TTM
C$0.62
Shares Outstanding
59.6M
EX-Date
09/11/15
P/E TM
17.9x
Dividend
C$0.52
Dividend Yield
3.90%
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. Signs Agreement with Bunker Industries Incorporated

Intertape Polymer Group Inc. has signed an agreement with Bunker Industries Incorporated. IPG will perform the distribution function for Bunker Industries Inc. to include all retail distribution in the USA. As the exclusive distributor, IPG will incorporate Bunker Industries three main product brands into the IPG line of goods available for retail sale. IPG's distribution services will include all major retail locations as well two tier distribution and the implied web resales for Hurricane Tape; F.A.W.C. TAPE; and Clarious HP. Hurricane Tape is a durable, woven tape designed for use in marine, automotive, construction and home applications. Its woven structure and strong adhesive is designed to perform in the harshest conditions. F.A.W.C. TAPE is a fabric tape designed to meet the rigors of the construction world. Its high coat weight and fabric laminate makes this product hand tearable, yet incredibly durable. Clarious HP is a carton sealing tape, clear-to-the-core, high performance packaging tape. Its acrylic adhesive makes it ideal for multiple box sealing applications.

Intertape Polymer Group Inc. Declares Dividend for the Second Quarter Ended June 30, 2015 Payable on September 30, 2015

On August 12, 2015, the Board of Directors of Intertape Polymer Group Inc. has amended the company's quarterly dividend policy to increase the annualized dividend from $0.48 to $0.52 per share and concurrently declared a dividend of $0.13 per common share for the second quarter ended June 30, 2015 payable on September 30, 2015 to shareholders of record at the close of business on September 15, 2015.

Intertape Polymer Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and for the Full Year of 2015

Intertape Polymer Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $196,586,000, operating profit of $17,782,000, earnings before income tax of $16,495,000, net earnings of $11,748,000 or $0.19 per diluted share compared to revenue of $196,586,000, operating profit of $20,802,000, earnings before income tax of $19,568,000, net earnings of $12,114,000 or $0.19 per diluted share a year ago. The decrease in net earnings was primarily due to an increase in selling, general and administrative expenses (SG&A) relating to (i) stock-based compensation expense and (ii) the Better Packages acquisition (as defined below), and a decrease in gross profit, partially offset by a decrease in income tax expense. Adjusted net earnings for the second quarter of 2015 decreased to $14.1 million or $0.23 diluted adjusted earnings per share compared to $14.7 million or $0.23 diluted adjusted earnings per share for the second quarter of 2014. Adjusted net earnings decreased primarily due to a decrease in gross profit, an increase in SG&A resulting from the Better Packages acquisition and an increase in research expenses associated with the South Carolina Project, partially offset by a decrease in income tax expense. Adjusted EBITDA decreased $2.4 million from $29.5 million for the second quarter of 2014 to $27.1 million for the second quarter of 2015. The decrease in adjusted EBITDA was primarily due to a decrease in gross profit, an increase in research expenses associated with the South Carolina Project and an increase in SG&A resulting from the Better Packages acquisition. Cash flows from operating activities were $25.7 million compared to $18.2 million a year ago. Purchases of property, plant and equipment was $6.2 million compared to $10.2 million a year ago. Cash flows from operating activities increased in the second quarter of 2015 by $7.6 million, primarily due to an increase in accounts payable and accrued liabilities related to the timing of annual compensation-related payments and a decrease in inventory in the second quarter of 2015 compared to an inventory build in the second quarter of 2014 to support the South Carolina Project. The $0.6 million decrease in adjusted net earnings was primarily due to a decrease in gross profit, an increase in SG&A resulting from the Better Packages acquisition and an increase in research expenses associated with the South Carolina Project, partially offset by a decrease in income tax expense. Net earnings for the first six months of 2015 decreased to $23.5 million or $0.38 diluted earnings per share, compared to $23.7 million or $0.38 diluted earnings per share a year ago. The decrease was primarily due to a decrease in gross profit and increase in SG&A, partially offset by decreases in income tax expense, manufacturing facility closures, restructuring and other related charges, and foreign exchange losses. Adjusted net earnings for the first six months of 2015 increased to $26.8 million or $0.43 diluted adjusted earnings per share compared to $26.5 million or $0.42 diluted adjusted earnings per share for the same period in 2014. Adjusted net earnings increased primarily due to decreases in income tax expense and variable compensation expense partially offset by a decrease in gross profit. Adjusted EBITDA decreased $5.5 million from $56.1 million for the first six months of 2014 to $50.6 million for the first six months of 2015, primarily due to a decrease in gross profit, partially offset by a decrease in variable compensation expense. The company reported a 4.3% decrease in revenue for the first six months of 2015 as compared to the first six months of 2014. The decrease in both periods was primarily due to a decrease in average selling price, including the impact of product mix, partially offset by an increase in sales volume. Cash flows from operating activities increased in the first six months of 2015 by $3.6 million to $26.6 million from $23.0 million in the first six months of 2014, primarily due to a smaller increase in trade receivables due to a decrease in revenue in the first six months of 2015, partially offset by decrease in gross profit. Purchases of property, plant and equipment was $15.1 million compared to $24.5 million a year ago. Net debt at June 30, 2015, was $148.1 million, an increase of $33.2 million compared to December 31, 2014. The company anticipates revenue for the third quarter of 2015 to be higher compared to revenue for the second quarter of 2015 primarily due to seasonally higher sales volume. Gross margin for the third quarter of 2015 is anticipated to be lower compared to the second quarter of 2015 primarily due to sequentially higher manufacturing overhead related to the planned annual maintenance shutdowns at many of the company's manufacturing facilities. As a result of the revenue and gross margin outlook above, adjusted EBITDA for the third quarter of 2015 is anticipated to be similar to the second quarter of 2015. For the year 2015, the company capex to be in a range of $32 million to $37 million. Assuming there are no material changes to the company's expected geographic mix of earnings, the company expects its effective tax rate for the third quarter and full financial year of 2015 to be approximately 25% to 30%.

 

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ITP

Industry Average

Valuation ITP Industry Range
Price/Earnings 19.3x
Price/Sales 0.8x
Price/Book 3.0x
Price/Cash Flow 18.6x
TEV/Sales 0.6x
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