<\/p>\n
So the stock is up but how do the numbers look like?<\/p>\n
What could one expect given the current economic environment?<\/p>\n
Colfax posted net income of $4.4 mil (0.10 $ \/share basic and diluted) in Q2 2009<\/p>\n
Adjusted net income (which backs out restructuring charges and asbestos related costs) was $8.5 mil ($ 0.20 \/ share), a decrease of 38.8%. This includes a negative currency effect of 4 cts\/share.<\/p>\n
Net sales were $ 129.2 mil, a decrease of 20% year over year.<\/p>\n
Only in the segment \u201eGlobal Navy and Commercial Marine End Markets” sales were up.<\/p>\n
Orders in the second quarter were $ 104.1 mil, a decrease of 44.9%<\/p>\n
Brutal numbers indeed!<\/p>\n
But the CEO was rather upbeat on the conference call given the current environment.<\/p>\n
Colfax Corp. rapidly started a cost reduction program of $ 13 mil until the end of 2009 and if necessary further cost reductions can be implemented.<\/p>\n
He points to the healthy balance sheet: the debt\/EBITDA ratio is 1.<\/p>\n
As acquisitions are part of Colfax’s business model they also mention an improving \u201eacquisitions pipeline”.<\/p>\n
Perhaps the best news are – if all goes well – that the legacy asbestos problem goes to trial in october and Colfax awaits a definitive solution at the end of this year.<\/p>\n
…….\u00a0 continues\u00a0 …..<\/p>\n","protected":false},"excerpt":{"rendered":"
So the stock is up but how do the numbers look like? What could one expect given the current economic environment? Colfax posted net income of $4.4 mil (0.10 $ \/share basic and diluted) in Q2 2009 Adjusted net income (which backs out restructuring charges and asbestos related costs) was $8.5 mil ($ 0.20 \/ […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","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\/208"}],"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=208"}],"version-history":[{"count":7,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/208\/revisions"}],"predecessor-version":[{"id":215,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/208\/revisions\/215"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=208"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}