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Columbus Mckinnon - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Columbus Mckinnon (ISIN: US1993331057, WKN: 899458) Kursdatum: 21.07.2017 Kurs: 25,420 USD
Beschreibung Daten
Symbol CMCO
Marktkapitalisierung 530.972.960,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Bauindustrie
Rohdaten nach US GAAP in Millionen USD
Aktiensplits
Internet
Letztes Bilanz Update 31.05.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
11,52 8,78 0,63% 0,81 30,65 59,12 0,83 1,56

Firmenbeschreibung

Selected Quarterly Financial Data (Unaudited)Below is selected quarterly financial data for fiscal 2016 and 2015:  Three Months Ended  June 30, 2015 September 30, 2015 December 31, 2015 March 31, 2016Net sales $136,236 $146,041 $159,738 $155,088Gross profit 43,584 46,945 48,341 48,393Income from operations 11,291 6,512 10,958 11,809Net income $6,911 $(448) $7,227 $5,889                  Net income per share – basic $0.35 $(0.02) $0.36 $0.29         Net income per share – diluted $0.34 $(0.02) $0.36 $0.29  Three Months Ended  June 30,2014 September 30,2014 December 31,2014 March 31,2015Net sales $142,932 $146,991 $140,791 $148,929Gross profit 45,565 47,156 43,409 45,477Income from operations 13,006 16,134 12,615 12,893Net income $6,733 $10,599 $7,861 $1,997                  Net income per share – basic $0.34 $0.53 $0.39

Firmenstrategie

Consolidation These consolidated financial statements include the accounts of the Company and its global subsidiaries; all significant intercompany accounts and transactions have been eliminated.

RevenueRecognitionPolicyTextBlock

Revenue Recognition, Accounts Receivable and Concentration of Credit Risk

 

Sales are recorded when title passes to the customer which is generally at time of shipment to the customer. The Company performs ongoing credit evaluations of its customers’ financial condition, but generally does not require collateral to support customer receivables. The credit risk is controlled through credit approvals, limits and monitoring procedures. Accounts receivable are reported at net realizable value and do not accrue interest. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other factors. Accounts receivable are charged against the allowance for doubtful accounts once all collection efforts have been exhausted.  The Company does not routinely permit customers to return product. However, sales returns are permitted in specific situations and typically include a restocking charge or the purchase of additional product. Sales tax is excluded from revenue.

SegmentReportingDisclosureTextBlock

Business Segment Information

 

ASC Topic 280, “Segment Reporting,” establishes the standards for reporting information about operating segments in financial statements. The Company has one operating and reportable segment for both internal and external reporting purposes.


Financial information relating to the Company’s operations by geographic area is as follows:


 
 
Year Ended March 31,
 
 
2016
 
2015
 
2014
Net sales:
 
 
 
 
 
 
United States
 
$
382,923

 
$
345,244

 
$
338,744

Europe
 
151,702

 
161,620

 
171,605

Canada
 
20,750

 
21,731

 
21,723

Other
 
41,728

 
51,048

 
51,218

Total
 
$
597,103

 
$
579,643


$
583,290


Note: Net sales to external customers are attributed to geographic areas based upon the location from which the product was shipped from the Company to the customer.

 
 
Year Ended March 31,
 
 
2016
 
2015
 
2014
Total assets:
 
 

 
 

 
 

United States
 
$
519,361

 
$
304,888

 
$
374,033

Europe
 
199,385

 
208,015

 
156,101

Canada
 
9,665

 
8,055

 
15,635

Other
 
44,633

 
45,366

 
52,905

Total
 
$
773,044

 
$
566,324


$
598,674

 
 
Year Ended March 31,
 
 
2016
 
2015
 
2014
Long-lived assets:
 
 

 
 

 
 

United States
 
$
308,504

 
$
142,241

 
$
142,409

Europe
 
78,831

 
79,496

 
65,994

Other
 
10,300

 
9,955

 
10,429

Total
 
$
397,635

 
$
231,692

 
$
218,832


Note: Long-lived assets include net property, plant, and equipment, goodwill, and other intangibles, net.


EarningsPerSharePolicyTextBlock

Earnings per Share and Stock Plans

 

Earnings per Share

 

The Company calculates earnings per share in accordance with ASC Topic 260, “Earnings per Share.”  Basic earnings per share exclude any dilutive effects of options, warrants, and convertible securities. Diluted earnings per share include any dilutive effects of stock options, unvested restricted stock units, unvested performance shares, and unvested restricted stock.  Stock options and performance shares with respect to 282,000, 114,000, and 16,000 common shares were not included in the computation of diluted earnings per share for fiscal 2016, 2015 and 2014, respectively, because they were antidilutive. For the year ended March 31, 2016 an additional 77,000 in contingently issuable shares were not included in the computation of diluted earnings per share because a performance condition had not yet been met.

 

The following table sets forth the computation of basic and diluted earnings per share (share data presented in thousands):

 

Sales by major product group are as follows:
 
Year Ended March 31,
 
 
2016
 
2015
 
2014
Hoists
 
$
351,965

 
$
393,571

 
 
Year Ended March 31,
Numerator for basic and diluted earnings per share:
 
2016
 
2015
 
2014
Net income (loss)
 
$
19,579

 
$
27,190

 
$
30,421

 
 
 
 
 
 
 
Denominators:
 
 

 
 

 
 

Weighted-average common stock outstanding— denominator for basic EPS
 
20,079

 
19,939

 
19,655

Effect of dilutive employee stock options, RSU's and performance shares
 
236

 
285

 
295

 
 
 
 
 
 
 
Adjusted weighted-average common stock  outstanding and assumed conversions— denominator for diluted EPS
 
20,315

 
20,224

 
19,950


 

The weighted-average common stock outstanding shown above is net of unallocated ESOP shares (see Note 13).


Stock Plans


The Company records stock-based compensation in accordance with ASC Topic 718, “Compensation – Stock Compensation,” applying the modified prospective method. This Statement requires all equity-based payments to employees, including grants of employee stock options, to be recognized in the statement of earnings based on the grant date fair value of the award. Under the modified prospective method, the Company is required to record equity-based compensation expense for all awards granted after the date of adoption and for the unvested portion of previously granted awards outstanding as of the date of adoption.


Prior to the adoptions of the 2010 Long Term Incentive Plan, the Company maintained several different stock plans, specifically: 1995 Incentive Stock Option Plan, Non-Qualified Stock Option Plan, Restricted Stock Plan and 2006 Long Term Incentive Plan, collectively referred to as the “Prior Stock Plans”.  The specifics of each of these plans are discussed below.


Stock based compensation expense was $4,063,000, $3,895,000, and $3,633,000 for fiscal 2016, 2015 and 2014, respectively.  Stock compensation expense is included in cost of goods sold, selling, and general and administrative expenses. The Company recognizes expense for all share–based awards over the service period, which is the shorter of the period until the employees’ retirement eligibility dates or the service period for the award, for awards expected to vest.  Accordingly, expense is generally reduced for estimated forfeitures.  ASC Topic 718 requires forfeitures to be estimated at the time of grant and revised if necessary, in subsequent periods if actual forfeitures differ from those estimates.


The Company recognized compensation expense for stock option awards and unvested restricted share awards that vest based on time or market parameters straight-line over the requisite service period for vesting of the award.



Long Term Incentive Plan


On July 26, 2010, the shareholders of the Company approved the 2010 Long Term Incentive Plan (“LTIP” or the "Plan").  The Company grants share based compensation to eligible participants under the LTIP.  The total number of shares of common stock with respect to which awards may be granted under the plan is 1,250,000 including shares not previously authorized for issuance under any of the Prior Stock Plans and any shares not issued or subject to outstanding awards under the Prior Stock Plans.  As of March 31, 2016, 291,817 shares remain for future grants. The LTIP was designed as an omnibus plan and awards may consist of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, or stock bonuses.


Under the Plan, the granting of awards to employees may take the form of options, restricted shares, and performance shares. The Compensation Committee of our Board of Directors determines the number of shares, the term, the frequency and date, the type, the exercise periods, any performance criteria pursuant to which awards may be granted and the restriction and other terms and conditions of each grant in accordance with terms of the Plan.


In connection with the acquisition of Magnetek, the Company agreed to continue the 2014 Stock Incentive Plan of Magnetek, Inc. (the "Magnetek Stock Plan"). In doing so, the Company has available under the Magnetek Stock Plan 205,602 of the Company's shares which can be granted to certain employees as stock based compensation.

 

Stock Option Plans


Existing prior to the adoption of the LTIP, the Company maintained two stock option plans, a Non-Qualified Stock Option Plan ("Non-Qualified Plan") and an Incentive Stock Option Plan ("Incentive Plan").  Effective with adoption of the LTIP no new grants can be made from the Non-Qualified Plan or the Incentive Stock Plan.  Options outstanding under the Non-Qualified Plan or the Incentive Stock Plan generally become exercisable over a four-year period at a rate of 25% per year commencing one year from the date of grant and exercise price of not less than 100% of the fair market value of the common stock on the date of grant. Options granted under the Non-Qualified Plan or the Incentive Stock Plan are exercisable not earlier than one year and not later than ten years from the date such option was granted.


A summary of option transactions during each of the three fiscal years in the period ended March 31, 2016 is as follows:

 
 
Shares
 
Weighted-
average
Exercise Price
 
Weighted-
average
Remaining
Contractual
Life (in years)
 
Aggregate
Intrinsic
Value
Outstanding at April 1, 2013
 
736,301

 
14.46

 
 
 
 
Granted
 
136,793

 
18.95

 
 
 
 
Exercised
 
(230,619
)
 
9.51

 
 
 
 
Cancelled
 
(29,969
)
 
20.00

 
 
 
 
Outstanding at March 31, 2014
 
612,506

 
17.05

 
 
 
 
Granted
 
118,060

 
27.08

 
 
 
 
Exercised
 
(87,210
)
 
18.41

 
 
 
 
Cancelled
 
(31,207
)
 
15.71

 
 
 
 
Outstanding at March 31, 2015
 
612,149

 
18.86

 
 
 
 
Granted
 
157,999