Connecticut
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001-07698
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06-0236700
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(State or other jurisdiction of
incorporation or organization)
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(Commission file number)
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(I.R.S. Employer
Identification No.)
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60 Round Hill Road, Fairfield, Connecticut
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06824
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(Address of principal executive offices)
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(Zip Code)
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By | /s/ Walter C. Johnsen | |
Walter C. Johnsen
Chairman and
Chief Executive Officer
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Dated: March 1, 2012
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By | /s/ Paul G. Driscoll | |
Paul G. Driscoll
Vice President and
Chief Financial Officer
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Dated: March 1, 2012
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CONTACT: | Paul G. Driscoll | Acme United Corporation | 60 Round Hill Road | Fairfield, CT 06824 |
Phone: (203) 254-6060 | FAX: (203) 254-6521 |
ACME UNITED CORPORATION
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME
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||||||||
YEAR END REPORT 2011
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(Unaudited) | ||||||||
Quarter Ended
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Quarter Ended
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|||||||
Amounts in $000's except per share data
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December 31, 2011
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December 31, 2010
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||||||
Net sales
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$ | 15,836 | $ | 13,360 | ||||
Cost of goods sold
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10,143 | 8,316 | ||||||
Gross profit
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5,693 | 5,044 | ||||||
Selling, general, and administrative expenses
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5,171 | 4,968 | ||||||
Income from operations
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522 | 76 | ||||||
Interest expense
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(100 | ) | (84 | ) | ||||
Interest income
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37 | 48 | ||||||
Net interest expense
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(63 | ) | (36 | ) | ||||
Other (expense) income, net
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(6 | ) | 108 | |||||
Total other (expense) income, net
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(69 | ) | 72 | |||||
Pre-tax income
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453 | 148 | ||||||
Income tax expense (benefit)
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187 | (33 | ) | |||||
Net income
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$ | 266 | $ | 181 | ||||
Shares outstanding - Basic
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3,125 | 3,065 | ||||||
Shares outstanding - Diluted
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3,125 | 3,121 | ||||||
Earnings per share basic
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$ | 0.09 | $ | 0.06 | ||||
Earnings per share diluted
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0.09 | 0.06 |
ACME UNITED CORPORATION
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME
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YEAR END REPORT 2011 (cont.)
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(Unaudited)
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Year Ended
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Year Ended
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|||||||
Amounts in $000's except per share data
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December 31, 2011
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December 31, 2010
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||||||
Net sales
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$ | 73,302 | $ | 63,149 | ||||
Cost of goods sold
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46,977 | 39,784 | ||||||
Gross profit
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26,325 | 23,365 | ||||||
Selling, general, and administrative expenses
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22,040 | 20,385 | ||||||
Income from operations
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4,285 | 2,980 | ||||||
Interest expense
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(404 | ) | (301 | ) | ||||
Interest income
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150 | 160 | ||||||
Net interest expense
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(254 | ) | (142 | ) | ||||
Other (expense) income, net
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(4 | ) | 72 | |||||
Total other (expense), net
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(259 | ) | (69 | ) | ||||
Pre-tax income
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4,026 | 2,911 | ||||||
Income tax expense
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1,215 | 338 | ||||||
Net income
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$ | 2,811 | $ | 2,573 | ||||
Shares outstanding - Basic
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3,100 | 3,129 | ||||||
Shares outstanding - Diluted
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3,100 | 3,194 | ||||||
Earnings per share basic
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$ | 0.91 | $ | 0.82 | ||||
Earnings per share diluted
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0.91 | 0.81 |
ACME UNITED CORPORATION
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CONDENSED CONSOLIDATED BALANCE SHEETS
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YEAR END REPORT 2011
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(Unaudited)
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Amounts in $000's
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December 31, 2011
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December 31, 2010
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Assets:
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Current assets:
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Cash
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$ | 7,853 | $ | 6,601 | ||||
Accounts receivable, net
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12,904 | 12,331 | ||||||
Inventories
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24,495 | 22,293 | ||||||
Prepaid and other current assets
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1,270 | 1,402 | ||||||
Total current assets
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46,522 | 42,627 | ||||||
Property and equipment, net
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2,506 | 2,216 | ||||||
Long term receivable
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1,766 | 1,839 | ||||||
Other assets
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4,428 | 2,899 | ||||||
Total assets
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$ | 55,222 | $ | 49,581 | ||||
Liabilities and stockholders' equity:
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Current liabilities
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Accounts payable
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$ | 4,935 | $ | 5,679 | ||||
Other current liabilities
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3,769 | 3,539 | ||||||
Total current liabilities
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8,705 | 9,218 | ||||||
Non-current liabilities
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Long term debt
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17,568 | 13,522 | ||||||
Other non current liabilities
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1,174 | 1,489 | ||||||
Total liabilities
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27,447 | 24,229 | ||||||
Total stockholders' equity
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27,775 | 25,352 | ||||||
Total liabilities and stockholders' equity
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$ | 55,222 | $ | 49,581 |