Analyst Summary
- Net 2024 consolidated sales increased $47.3 million or 13.9% to $388.2 million.
- Net earnings were up $6.9 million or 20% to $41.5 million ($5.82 per share).
- Defense sales increased $42.3 million or 17.5%, due to increased shipments from its sizable backlog.
- Housewares/Small Appliance segment net revenues were up $5.2 million or 5.3%.
- The Safety segment reported a loss as it continued its efforts to secure certification of its smoke detectors and fire extinguishers.
- The Board of Directors announced the 2025 dividend of $1.00 per share.
- There will be no extra dividend paid in 2025 due to the cash requirements for the Defense segment’s backlog.
Potential Implications
Company Performance
- The Defense segment’s sizable backlog exceeding one-billion dollars will require significant inventory buildup.
- The Safety segment’s efforts to secure certification of its smoke detectors and fire extinguishers may impact future performance.
Stock Price
- The announcement of a regular dividend may positively influence the stock price.
- The absence of an extra dividend may have a neutral or slightly negative impact on the stock price.