893 9701e Mail: InvestorRelations@Standex.com STANDEX REPORTS THIRD QUARTER FISCAL 2014 FINANCIAL RESULTS Sample Clauses


893-9701e-mail: InvestorRelations@Standex.com STANDEX REPORTS THIRD-QUARTER FISCAL 2014 FINANCIAL RESULTS. Reports $1.04 in EPS from Continuing Operations; $0.93 in Non-GAAP EPS from Continuing OperationsAll Five Segments Report Year-over-Year Growth in Revenue and Operating IncomeSALEM, NH – May 2, 2014 . . . . Standex International Corporation (NYSE:SXI) today reported financial results for the third quarter of fiscal year 2014 ended March 31, 2014. Third Quarter Fiscal 2014 Results from Continuing Operations§Net sales increased 7.7% to $178.8 million from $166.0 million in the third quarter of fiscal 2013. §Income from operations was $14.2 million, compared with $11.7 million in the third quarter of fiscal 2013. Operating income for the third quarter of fiscal 2014 included, pre-tax, $1.4 million of restructuring charges and $1.4 million of non-recurring management transition expenses. The third quarter of fiscal 2013 included, pre-tax, $1.1 million of restructuring charges, a legal settlement expense of $2.8 million, and a $2.3 million benefit relating to the discontinuation of a retiree life insurance benefit. Excluding these items from both periods, the Company reported non-GAAP third-quarter fiscal 2014 operating income of $17.0 million, compared with $13.3 million in the year-earlier quarter.§Net income from continuing operations was $13.2 million, or $1.04 per diluted share, including, after tax, $1.0 million of restructuring charges, $1.0 million of non-recurring management transition expenses, and an insurance proceeds gain of $3.4 million. This compares with third quarter of fiscal 2013 net income from continuing operations of $9.6 million, or $.76 per diluted share, including $0.8 million of tax-effected restructuring charges, a $2.0 million expense related to a legal settlement, a $1.6 million life insurance benefit and a $1.4 million benefit from discrete tax items. Excluding the aforementioned items from both periods, non-GAAP net income from continuing operations was $11.8 million, or $0.93 per diluted share, compared with $9.4 million, or $0.74 per diluted share, in the third quarter of fiscal 2013.§EBITDA (earnings before interest, income taxes, depreciation and amortization) was $21.4 million, compared with $15.4 million in the third quarter of fiscal 2013. Excluding the previously mentioned items from both periods, EBITDA for the third quarter of fiscal 2014 was $20.8 million, compared with $17.0 million in the year-earlier quarter.