Hawkins Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 30, 2012
January 30, 2013 at 05:20 pm EST
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Hawkins Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 30, 2012. For the quarter, the company reported net income of $1,348,000 or $0.13 per basic and diluted share on sales of $85,527,000 against net income of $5,552,000 or $0.54 per basic share and $0.53 per diluted share on sales of $84,160,000 a year ago. Operating income was $509,000 compared to $8,516,000 a year ago. Income from continuing operations before income taxes was $544,000 compared to $8,542,000 a year ago. Income from continuing operations was $1,348,000 or $0.13 per basic and diluted share compared to $5,285,000 or $0.51 per basic and diluted share a year ago. Adjusted net income from continuing operations was $5,800,000, or $0.56 per share, fully diluted.
For the nine months, the company reported net income of $12,961,000 or $1.24 per basic share and $1.23 per diluted share on sales of $262,786,000 against net income of $19,180,000 or $1.86 per basic share and $1.84 per diluted share on sales of $260,624,000 a year ago. Operating income was $19,330,000 compared to $29,492,000 a year ago. Income from continuing operations before income taxes was $19,429,000 compared to $29,611,000 a year ago. Income from continuing operations was $12,943,000 or $1.24 per basic share and $1.23 per diluted share compared to $18,356,000 or $1.78 per basic share and $1.76 per diluted share a year ago. Adjusted net income from continuing operations was $19,400,000, or $1.85 per share, fully diluted, compared to adjusted net income from continuing operations of $18,400,000 or $1.76 per share, fully diluted, for the first nine months of fiscal 2012.
Hawkins, Inc. is a specialty chemical and ingredients company that formulates, distributes, blends, and manufactures products for its industrial, water treatment, and health and nutrition customers. Its segments include Industrial, Water Treatment, and Health and Nutrition. The Industrial segment specializes in providing industrial chemicals, products and services to industries, such as agriculture, chemical processing, electronics, energy, food, pharmaceuticals and plating. Water Treatment segment specializes in providing chemicals, products, equipment, services and solutions for potable water, municipal and industrial wastewater, industrial process water, non-residential swimming pool water and agricultural water. Health and Nutrition segment specializes in providing ingredient distribution, processing and formulation solutions to manufacturers of nutraceutical, functional food and beverage, personal care, dietary supplement and other nutritional food, health and wellness products.