KELL looks very good for a CNBC play today. Their recent earnings below were great. ONly 8 million in the float with 1.5 million short. I think it was ready to move up significantly anyway, it just needed a push. Well CNBC will give it the push today. Could be a nice squeeze situation too.
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Kellstrom Industries Reports 172%, 143% and 62% Increase in First Quarter Revenues, Net Income and EPS
EBITDA RISES 158% AS OPERATING INCOME GROWS 147%
SUNRISE, FL--(BUSINESS WIRE)--April 27, 1999-- Kellstrom Industries, Inc. [NASDAQ: KELL] today announced record results for its first quarter ended March 31, 1999, continuing a long term trend of significant earnings growth.
Kellstrom's revenues for the first quarter increased by 172% to $79,056,009 from $29,090,571 for the same quarter in 1998. Cash earnings, as reflected by EBITDA, grew by 158% to $23,177,180. Operating income increased by 147% to $15,679,361 from $6,352,073 in last year's first quarter. Net income also increased by 143% to $7,148,328, or $0.47 per diluted share from $2,941,610, or $0.29 per diluted share in the first quarter of 1998.
Michael Wallace, Chief Financial Officer of Kellstrom Industries stated, ''Our 'Free Cash Flow', defined as 'Net income plus amortization of goodwill plus depreciation of property, plant and equipment' for the quarter was $8,349,728, compared to $3,534,833 in 1998, an increase of 136%. 'Free Cash Flow' represents the surplus cash available to the Company, without using external financing resources, to be used to finance growth and/or repay debt. Our gross, operating and net margins incorporate the consolidation of our Solair Division, which starting in January began improving its historically lower margins. Solair's performance on a stand-alone basis was actually ahead of budget, which resulted in better than expected overall Company earnings.'' |
