UNOVA Announces Second Quarter 2005 Results
Thursday August 4, 4:00 pm ET
biz.yahoo.com
EVERETT, Wash.--(BUSINESS WIRE)--Aug. 4, 2005--UNOVA, Inc. (NYSE:UNA - News):
Intermec Revenues increased 16.6% over the prior-year-quarter to $217.5 million
Intermec Operating Profit was $23.8 million; an 11.0% Operating Margin
EPS from Continuing Operations increased to $0.19 versus $0.05 in the prior-year-quarter
UNOVA, Inc. (NYSE:UNA - News) today announced financial results for its fiscal second quarter which ended July 3, 2005.
UNOVA reported second quarter revenues of $217.5 million and earnings from continuing operations of $11.9 million, or $0.19 per diluted share, compared to 2004 second quarter revenues of $186.6 million and earnings from continuing operations of $3.2 million, or $0.05 per diluted share. Including discontinued operations, net earnings for the second quarter of 2005 was $12.1 million, or $0.19 per diluted share compared to net earnings of $5.7 million, or $0.09 per diluted share in the prior year's second quarter.
Intermec operating profits increased to $23.8 million for the second quarter of 2005, a 53 percent increase compared to $15.6 million for the same prior year period. Intermec operating margins were 11.0 percent for the second quarter of 2005, compared to 8.4 percent for the prior-year quarter.
"We are pleased with our recent strategic progress," said Larry D. Brady, Chairman and CEO. "The impact of our Rapid Start licensing program, the continued advancement of our divestiture plans, and the strong growth and solid execution we are seeing at Intermec, have contributed to our conviction that we are on a clear path to establishing industry leadership."
Intermec product revenue categories achieved double digit growth over the comparable 2004 quarter. Systems and Solutions revenue increased 17 percent and Printer and Media revenues increased 19 percent over the comparable prior-year period. Service revenue increased 9 percent over the comparable prior-year period.
Geographically, North American revenues achieved an increase of 21 percent over the comparable prior-year period. Revenues in Europe, Mid-East and Africa (EMEA) increased 10 percent, Latin America revenues increased 30 percent and revenues in Asia Pacific decreased 11 percent.
Corporate and other expenditures were $5.4 million for the second quarter of 2005, versus $5.7 million in the prior-year-quarter.
The Company's discontinued operations contributed an after-tax profit of $0.2 million for the current quarter, compared to $2.5 million for the second quarter of 2004.
The Company's cash and cash equivalent position at the end of the second quarter was $172.8 million, an increase of $17.6 million during the second quarter. |
