{"id":1170,"date":"2013-04-27T16:48:18","date_gmt":"2013-04-27T14:48:18","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=1170"},"modified":"2013-04-27T16:48:18","modified_gmt":"2013-04-27T14:48:18","slug":"colfax-solid-results-in-a-still-sluggish-environment","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=1170","title":{"rendered":"Colfax &#8211; solid results in a still sluggish environment"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">As always <a title=\"Transcript\" href=\"http:\/\/seekingalpha.com\/article\/1370951-colfax-management-discusses-q1-2013-results-earnings-call-transcript?source=yahoo\" target=\"_blank\">Seeking Alpha published the conference call transcript of Colfax Corp. Q1 2013 Conference Call.<\/a><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: medium; font-family: 'Times New Roman', serif;\">Adjusted EPS for the 2013 first quarter came in at $0.26 per share, an increase of 13%.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\"><span style=\"color: #000000;\">Net sales were $947.1 million, an increase of 6.8% from Q1 2012 net sales of $886.4 million<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">Sales in the gas- and fluid handling segment were 2% lower compared to last year&#8217;s first quarter, but fabrication technology segment grew revenue by 13,2% year over year to $522.0 million<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><em><strong><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">The most interesting news this quarter certainly is how the company <span style=\"color: #000000;\">is improving margins!<\/span><\/span><\/span><\/span><\/strong><\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\"><span style=\"color: #000000;\">Colfax\u2019s gross profit margin in the quarter was 30.7% in the quarter, increasing 340 basis points year over year<\/span> and the adjusted operating margin is now 8.3%<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">They are applying their cost control measures called \u201eCBS\u201c &#8211; Colfax Business System &#8211; to all recently acquired segments and companies. They will continue to apply these measures over the year even repeatedly and therefore are able to confirm their 2013 earnings guidance.<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">Colfax stock yesterday rose about 1% on an otherwise down day of the stock market to $ 46.21<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333333;\"><span style=\"font-family: 'Times New Roman', serif;\"><span style=\"font-size: medium;\">It now sells at a p\/e of 23, not cheap for an industrial company.\u00a0<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: medium; font-family: 'Times New Roman', serif;\">If you want to build a new position in Colfax you probably should wait for better days! \u00a0\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>As always Seeking Alpha published the conference call transcript of Colfax Corp. Q1 2013 Conference Call. Adjusted EPS for the 2013 first quarter came in at $0.26 per share, an increase of 13%. Net sales were $947.1 million, an increase of 6.8% from Q1 2012 net sales of $886.4 million Sales in the gas- and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1170"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1170"}],"version-history":[{"count":8,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1170\/revisions"}],"predecessor-version":[{"id":1178,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1170\/revisions\/1178"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1170"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}