Delaware
|
1-11406
|
52-1762325
|
(State or Other Jurisdiction
|
(Commission File Number)
|
(IRS Employer
|
of Incorporation)
|
Identification No.)
|
One Technology Park Drive
|
||
Westford, Massachusetts
|
01886
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
|
Item 2.02 Results of Operations and Financial Condition.
|
|
Item 9.01 Financial Statements and Exhibits.
|
(c) Exhibit
|
||
The following exhibit relating to Item 2.02 shall be deemed to be furnished and not filed.
|
||
Exhibit
No
|
Description of Exhibit
|
|
99
|
Slides to be presented by the Company on July 31, 2012
|
|
KADANT INC.
|
||
Date: July 31, 2012
|
By
|
/s/ Thomas M. O’Brien
|
Thomas M. O’Brien
Executive Vice President and
Chief Financial Officer
|
#5#++P8,@"[.\@Y(<$(Q`T,NV.P&J"0C$.7!E
M("]&;VYT#0H^/@T*96YD;V)J#0H-"C$S(#`@;V)J#0H\/`T*+T)A)Q=DTV.HS`0A?>
7N1/5>>T.:.:-<0S34GV.*_N='9=X]OI]"9[W-B>UBT_XS.S^@^*Z;!"G?N
M+<)'GY(W;Q@]8>SF+Z?]VUHH>D*CWS0A$;\-?ZV5!"D^@\+GW.\C^;Y7P-]U
MF]L/SAK90@.B%>;_8V0KC%\+1UAC/N;X8H)%S?P@R'NL)L
MB#B0AI8:ZXJ26VJ92G$E;NG=-!S7[2[-<1B!FB7)5=L6W:S%]ZPEV_?6*IH3
MJZMEUNO1*+@(#F^;T`UF-2-.^A$_,Y;C2M#&JFZ([ZC9J]%`CYZ)<]_'##WK
M2L=T[U')#E&5"5*GK,@H:CRNLTBN+8I8/1,S
|
Q2 2012
|
Q2 2011
|
Revenue
|
$83.0 million
|
$82.5 million
|
Gross Margin
|
43.7%
|
45.7%
|
Operating Income1
|
$9.4 million
|
$10.5 million
|
Net Income1
|
$6.5 million
|
$7.3 million
|
Diluted EPS1
|
$0.56
|
$0.59
|
EBITDA2
|
$11.4 million
|
$12.5 million
|
EBITDA2/Sales
|
13.8%
|
15.1%
|
Cash Flow1
|
$8.6 million
|
$6.8 million
|
Net Cash (cash less debt)
|
$30.1 million
|
$28.6 million
|
($ Millions)
|
Q2 2012
|
Q2 2011
|
% CHANGE
|
EXCL. FX
|
Stock-Preparation
|
$28.7
|
$32.3
|
-11.3%
|
-8.7%
|
Fluid-Handling
|
23.7
|
24.5
|
-3.0%
|
2.4%
|
Doctoring
|
14.0
|
13.7
|
2.1%
|
6.6%
|
Water-Management
|
13.1
|
8.5
|
53.2%
|
60.8%
|
Fiber-based Products
|
3.0
|
2.9
|
6.5%
|
6.5%
|
Other
|
0.5
|
0.6
|
-17.1%
|
-4.3%
|
TOTAL
|
$83.0
|
$82.5
|
0.6%
|
4.9%
|
($ Millions)
|
Q2 2012
|
Q2 2011
|
% CHANGE
|
EXCL. FX
|
Stock-Preparation
|
$28.0
|
$30.8
|
-9.1%
|
-5.3%
|
Fluid-Handling
|
24.2
|
28.4
|
-15.1%
|
-10.2%
|
Doctoring
|
14.8
|
14.5
|
2.3%
|
6.8%
|
Water-Management
|
7.3
|
11.1
|
-34.0%
|
-31.8%
|
Fiber-based Products
|
2.6
|
1.8
|
47.3%
|
47.3%
|
Other
|
0.5
|
0.7
|
-29.2%
|
-18.5%
|
TOTAL
|
$77.4
|
$87.3
|
-11.4%
|
-7.3%
|
|
2Q12
|
1Q12
|
2Q11
|
Sequential ∆
|
Y-O-Y ∆
|
Papermaking Systems Segment
|
43.4%
|
45.1%
|
45.3%
|
-1.7%
|
-1.9%
|
Fiber-based Products
|
52.8%
|
56.3%
|
56.6%
|
-3.5%
|
-3.8%
|
TOTAL
|
43.7%
|
45.6%
|
45.7%
|
-1.9%
|
-2.0%
|
($ Millions)
|
2Q12
|
1Q12
|
2Q11
|
Sequential ∆
|
Y-O-Y ∆
|
SG&A
|
$25.5
|
$26.1
|
$25.8
|
$(0.6)
|
$(0.3)
|
% Revenues
|
30.7%
|
31.1%
|
31.3%
|
-0.4%
|
-0.6%
|
($ Millions)
|
2Q12
|
2Q11
|
2Q12 YTD
|
2Q11 YTD
|
Income from Continuing Operations
|
$6.6
|
$7.4
|
$13.7
|
$13.3
|
Depreciation and Amortization
|
2.0
|
2.0
|
4.3
|
3.8
|
Stock-Based Compensation
|
1.2
|
1.1
|
2.3
|
1.9
|
Other Items
|
0.3
|
-
|
(0.1)
|
0.5
|
Change in Current Assets & Liabilities (excl. acquisitions)
|
(1.5)
|
(3.7)
|
(15.7)
|
(12.3)
|
Cash Provided by Continuing Operations
|
$8.6
|
$6.8
|
$4.5
|
$7.2
|
|
2Q12
|
1Q12
|
2Q11
|
Days in Receivables
|
74
|
73
|
63
|
Days in Payables
|
49
|
57
|
54
|
Days in Inventory
|
97
|
101
|
113
|
|
2Q12
|
1Q12
|
2Q11
|
Working Capital % LTM Revenues*
|
13.8%
|
13.7%
|
13.4%
|
($ Millions)
|
2Q12
|
1Q12
|
2Q11
|
Cash, cash equivalents, restricted cash
|
$42.1
|
$43.0
|
$46.1
|
Debt
|
(12.0)
|
(12.1)
|
(17.5)
|
NET CASH
|
$30.1
|
$30.9
|
$28.6
|
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