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Last C$20.10 CAD
Change Today 0.00 / 0.00%
Volume 1.5K
VLN On Other Exchanges
Symbol
Exchange
Toronto
As of 1:46 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

velan inc (VLN) Snapshot

Open
C$20.02
Previous Close
C$20.10
Day High
C$20.30
Day Low
C$20.02
52 Week High
04/29/15 - C$22.50
52 Week Low
08/19/14 - C$16.41
Market Cap
441.0M
Average Volume 10 Days
5.2K
EPS TTM
C$0.93
Shares Outstanding
6.4M
EX-Date
06/11/15
P/E TM
21.6x
Dividend
C$0.40
Dividend Yield
1.98%
Current Stock Chart for VELAN INC (VLN)

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velan inc (VLN) Details

Velan Inc. is engaged in designing, manufacturing, and marketing various industrial valves worldwide. It offers gate, globe, and check valves, including cast steel valves for use in process and power industries; stainless steel valves for corrosive applications; small forged valves for industrial applications; forged high pressure valves for use in nuclear and fossil power generation industries, the U.S. Navy, and high pressure/temperature steam applications; Y-pattern valves for use in power plants; knife gate valves to handle slurries; proquip dual-plate check valves for use in oil and gas industries; conduit and double expanding valves for up, mid, and downstream applications; and non slam valves. The company also provides quarter-turn valves comprising resilient-seated ball valves; metal-seated ball valves for high temperature, high corrosive, and/or media applications; ball valves for delayed cokers in oil refineries; power ball valves to handle steam isolation applications; trunnion-mounted pipeline ball valves for cryogenic, offshore, sub sea, and underground applications; torqseal triple-offset butterfly valves for use in offshore oil platforms, fossil and nuclear power plants, and petroleum refineries; and cryogenic butterfly valves for use in liquid natural gas industry. In addition, it offers bimetallic steam traps for steam applications in thermal and nuclear power plants, or aboard ships; Adareg control valves for cryogenic applications; and double block and bleed ball, multi turn ball, ball control, and choke valves, as well as actuators for special applications, such as HIPPS systems and subsea applications. Velan Inc. sells its products directly or through a network of distributors and agents. The company was formerly known as Velan Engineering Ltd. and changed its name to Velan Inc. in February 1981. Velan Inc. was founded in 1950 and is headquartered in Montreal, Canada. Velan Inc. is a subsidiary of Velan Holding Co. Ltd.

2,000 Employees
Last Reported Date: 05/19/15
Founded in 1950

velan inc (VLN) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: C$440.0K
Founder and Chairman Emeritus
Total Annual Compensation: C$338.2K
Chief Financial Officer
Total Annual Compensation: C$244.6K
Chief Operations Officer
Total Annual Compensation: C$255.4K
Executive Vice-President of International Sal...
Total Annual Compensation: C$296.9K
Compensation as of Fiscal Year 2014.

velan inc (VLN) Key Developments

Velan Inc. Announces Management Changes

Velan Inc. announced that Mr. A.K. Velan is retiring as Executive Chairman of the Board of Directors after 65 years of devoted service to the company. He has been appointed to the honorary position of Founder and Chairman Emeritus. Mr. Tom Velan is appointed as Chairman of the Board and CEO, and Mr. William Sheffield is appointed to the new position of Lead Director. These appointments are effective May 19, 2015.

Velan, Inc. Declares Quarterly Dividend, Payable on June 30, 2015; Reports Earnings Results for the Fourth Quarter and Year Ended February 28, 2015

The board of Velan, Inc. declared an eligible quarterly dividend of CAD 0.10 per share, payable on June 30, 2015, to all shareholders of record as at June 15, 2015. The company reported earnings results for the fourth quarter and year ended February 28, 2015. The company's net earnings amounted to $4.7 million or $0.22 basic and diluted per share compared to $10.4 million or $0.47 basic and diluted per share last year. The $5.7 million decrease in net earnings is primarily attributable to a lower gross profit percentage partially offset by decreased administration costs, in particular lower freight costs, the securing of a research and development grant attributable to the Company's Italian operations in the quarter and a decrease in costs associated with the Company's ongoing asbestos litigation. Sales amounted to $114.5 million, a decrease of $6.2 million or 5.1%. Despite the strong push in the quarter to execute shipments of certain large project orders, the Company was not able to match the level of execution achieved in the same quarter of the prior year, particularly in its North American operations. For the year, the company's net earnings amounted to $18.6 million or $0.85 basic and diluted per share compared to $29.4 million or $1.34 basic and diluted per share last year. The $10.8 million decrease in net earnings is primarily attributable to lower sales volume and higher administration costs, in particular an increase in costs recognized in connection with the company's ongoing asbestos litigation, as well as increased research and development costs in one of the company's French subsidiaries related to new product qualifications. Sales amounted to $455.7 million, a decrease of $33.6 million or 6.9% from the prior year. The company's shipments of certain large project orders were lower for the current year compared to the prior year, despite the improved execution in the second half of the year. The strength of the U.S. dollar as well as the uncertainty in oil and gas markets resulting from the decline in the price of oil negatively impacted sales. In addition, project delays on several large projects reduced sales.

Velan, Inc. to Report Q4, 2015 Results on May 19, 2015

Velan, Inc. announced that they will report Q4, 2015 results at 4:30 PM, Eastern Daylight on May 19, 2015

 

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Industry Analysis

VLN

Industry Average

Valuation VLN Industry Range
Price/Earnings 19.3x
Price/Sales 0.8x
Price/Book 1.1x
Price/Cash Flow 5.6x
TEV/Sales NM Not Meaningful
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