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Last $18.23 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

span-america medical sys inc (SPAN) Snapshot

Open
$18.88
Previous Close
$18.23
Day High
$18.88
Day Low
$18.20
52 Week High
05/5/15 - $21.62
52 Week Low
10/9/14 - $15.82
Market Cap
54.5M
Average Volume 10 Days
9.7K
EPS TTM
$0.93
Shares Outstanding
3.0M
EX-Date
05/8/15
P/E TM
19.6x
Dividend
$0.60
Dividend Yield
8.78%
Current Stock Chart for SPAN-AMERICA MEDICAL SYS INC (SPAN)

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span-america medical sys inc (SPAN) Details

Span-America Medical Systems, Inc. manufactures and distributes various therapeutic support surfaces and related products for the medical, consumer, and industrial markets in the United States and Canada. It operates through two segments, Medical and Custom Products. The Medical segment offers various medical products consisting of polyurethane foam mattress overlays, non-powered and powered therapeutic support surfaces, patient positioners, medical beds, and tables and related in-room furnishings, as well as seating, skin care, and fall protection products to acute care hospitals, long-term care facilities, and home health care providers. The Custom Products segment provides consumer bedding products comprising convoluted and contour-cut mattress overlays, and specially designed pillows for the consumer bedding market; and engineered industrial products, including engineered foam products that are used in various markets, such as automotive, packaging, durable goods, electronics, and water sports equipment industries. The company was founded in 1970 and is headquartered in Greenville, South Carolina.

253 Employees
Last Reported Date: 12/23/14
Founded in 1970

span-america medical sys inc (SPAN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $329.6K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $213.2K
Vice President of Custom Products
Total Annual Compensation: $189.3K
Vice President of Research & Development and ...
Total Annual Compensation: $176.3K
Vice President of Medical Sales and Marketing
Total Annual Compensation: $221.6K
Compensation as of Fiscal Year 2014.

span-america medical sys inc (SPAN) Key Developments

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.

Span-America Medical Systems, Inc. and TD Bank, N.A. Enters into Revolving Credit Facility

On May 27, 2015, Span-America Medical Systems Inc. and its credit facility lender TD Bank, N.A. entered into a First Amendment to Loan Documents amending the Company's revolving credit facility by extending the maturity date to April 30, 2018, reducing the maximum availability under the facility from $10 million to $5 million (and eliminating the unused line fee if the outstanding balance on the line is less than $5 million that was applicable prior to the amendment), eliminating the dividends covenant and modifying the tangible net worth covenant to update the tangible net worth threshold to the threshold in effect in accordance with the terms of the covenant at the time of execution of the amendment. There is currently no outstanding balance on the line of credit, and the Company is not in default under the line of credit.

Span-America Medical Systems Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 28, 2015; Provides Earnings Guidance for the Second Half of 2015

Span-America Medical Systems Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 28, 2015. For the quarter, the company’s sales rose 2% to $15.0 million compared with $14.7 million in the second quarter of fiscal 2014. The sales increase came from solid growth from M.C. Healthcare, consumer bedding and industrial product lines. Sales results for the second quarter were adversely affected by having a 12-week quarter in 2015 compared with a 13-week quarter in the second quarter of 2014. Net income for the second quarter of fiscal 2015 was decreased by 13% to $773,000, or $0.26 per diluted share, compared with $891,000, or $0.30 per diluted share, in the second quarter of fiscal 2014. Earnings results for the second quarter were adversely affected by a less profitable sales mix, resulting in lower gross margins in both the medical and custom products segments. Operating income decreased by 31% to $925,000 for the second quarter this year compared with $1.3 million in the second quarter last year. The decreases in operating income and net income were due primarily to the decline in gross profit level combined with slightly higher operating expenses during the second quarter this year compared with the same quarter last year. Income before income taxes was $1,096,438 compared to $1,356,681 a year ago. Earnings for the second quarter did not keep pace with the company’s sales growth due to a less profitable sales mix in its medical and custom products segments. For the first half of fiscal 2015, total sales rose 4% to $30.8 million compared with $29.6 million in the first half of last fiscal year. The first-half sales increase benefited from higher medical segment sales and to a lesser extent from sales of the company’s industrial product lines, which are part of the custom products segment. Net income increased 12% to $1.7 million, or $0.58 per diluted share, compared with $1.6 million, or $0.52 per diluted share, in the same period last year. The increase in earnings for the first half of fiscal 2015 was the result of higher sales volume in medical segment, particularly among the company’s M.C. Healthcare product lines. Operating income was $2,268,862 compared to $2,345,803,000 a year ago. Income before income taxes was $2,506,763 compared to $2,367,811,000 a year ago. The company provided earnings guidance for the second half of 2015. The company expects sales and earnings for the second half of fiscal 2015 to exceed those in the first half of this year. The company expects sales and earnings for the remainder of this fiscal year to be higher than in the first half of fiscal 2015 due to anticipated sales growth of medical and custom products.

 

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SPAN Competitors

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Company Last Change
Chemed Corp $130.99 USD -1.94
CONMED Corp $58.56 USD -0.18
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Industry Analysis

SPAN

Industry Average

Valuation SPAN Industry Range
Price/Earnings 19.7x
Price/Sales 1.0x
Price/Book 2.0x
Price/Cash Flow 19.6x
TEV/Sales 0.9x
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