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Last C$21.34 CAD
Change Today +0.01 / 0.05%
Volume 803.0
VLN On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 2:22 PM 07/3/15 All times are local (Market data is delayed by at least 15 minutes).

velan inc (VLN) Snapshot

Open
C$21.25
Previous Close
C$21.33
Day High
C$21.34
Day Low
C$21.25
52 Week High
04/29/15 - C$22.50
52 Week Low
08/19/14 - C$16.41
Market Cap
468.4M
Average Volume 10 Days
8.6K
EPS TTM
C$0.89
Shares Outstanding
6.4M
EX-Date
06/11/15
P/E TM
24.1x
Dividend
C$0.40
Dividend Yield
1.87%
Current Stock Chart for VELAN INC (VLN)

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velan inc (VLN) Details

Velan Inc. manufactures and sells industrial valves worldwide. It offers gate, globe, and check valves, including pressure seal, cast steel, small forged, dual-plate check, bolted bonnet high pressure, cast stainless steel corrosion resistant, bonnetless, and knife gate valves, as well as maintenance valves for nuclear service. The company also provides quarter-turn valves, such as ball, metal-seated ball, forged ball, power ball, high performance three-piece ball, general purpose ball, triple-offset butterfly, high performance cryogenic butterfly, coker ball, and cap-tight batch digester capping valves. In addition, it offers cryogenic valves comprising cast steel cryogenic, small forged cryogenic, cryogenic triple-offset, ball, and cryogenic control valves; cast steel and small forged hydrofluoric acid valves; and bellows seal bolted bonnet high pressure, seal cast steel, and seal API small forged valves. Further, the company provides bimetallic steam and thermodynamic steam traps; and specialty valves and actuators for oil and gas, LNG, and petrochemical processes, as well as offers spare parts. It serves nuclear power, power, oil and gas refining, chemical, pulp and paper, marine, mining, LNG and cryogenics, and water and wastewater industries. Velan Inc. primarily sells its products through independent third party distributors and sales 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 Montréal, Canada. Velan Inc. is a subsidiary of Velan Holding Co. Ltd.

2,067 Employees
Last Reported Date: 05/22/15
Founded in 1950

velan inc (VLN) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: C$469.7K
Founder and Chairman Emeritus
Total Annual Compensation: C$338.2K
Chief Financial Officer
Total Annual Compensation: C$264.8K
Chief Operations Officer
Total Annual Compensation: C$271.9K
Executive Vice President
Total Annual Compensation: C$312.8K
Compensation as of Fiscal Year 2015.

velan inc (VLN) Key Developments

Unionized Employees of Velan Inc. Ends Lockout in Montreal

On Friday June 5, 2015, unionized employees of Velan Inc.'s plants in Montreal have accepted the recommendation of the mediator-conciliator nominated by the Ministry of Labour. Therefore, Velan ends the lockout that it had declared on May 25, 2015. The agreement includes a joint Operation Improvement Committee that will coordinate the implementation of new work methods and the coordination of related training activities. It also stipulates that the parties will ask the Secretary of Labour to appoint a resource to support the Committee in its meetings. The new collective bargaining agreement will be in force for three years.

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.

 

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VLN

Industry Average

Valuation VLN Industry Range
Price/Earnings 20.1x
Price/Sales 0.8x
Price/Book 1.1x
Price/Cash Flow 5.8x
TEV/Sales NM Not Meaningful
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