Stock Monitor: Zebra Technologies Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 02, 2018 / Active-Investors.com has just released a free earnings report on Colfax Corp. (NYSE: CFX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CFX. The Company reported its fourth quarter fiscal 2017 (Q4 FY17) and full year 2017 (FY17) on February 06, 2018. Colfax's net sales grew 7.6% y-o-y during Q4 FY17. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Zebra Technologies Corporation (NASDAQ: ZBRA), which also belongs to the Industrial Goods sector as the Company Colfax. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=ZBRA
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Colfax most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=CFX
Earnings Highlights and Summary
In Q4 FY17, Colfax reported net sales of $874.08 million, which came in above the $812.41 million reported in the year-ago same period. However, net sales numbers for the reported quarter missed market consensus estimates of $899.6 million. Additionally, the Company's Air and Gas Handling orders increased to $368.5 million in Q4 FY17 from $328.8 million in last year's comparable quarter.
The manufacturing and engineering company posted a net loss from continuing operations attributable to Colfax of $188.97 million, or $1.53 loss per diluted share, in Q4 FY17 compared to net income from continuing operations attributable to Colfax of $38.12 million, or $0.31 per diluted share, reported in Q4 FY16. Meanwhile, the Company's adjusted net income from continuing operations for Q4 FY17 came in at $55.84 million, or $0.45 per diluted share, compared to $64.10 million, or $0.52 per diluted share, in Q4 FY16. Moreover, Wall Street had expected adjusted net income of $0.44 per diluted share.
The Annapolis Junction, Maryland-based Company's net sales for full-year FY17 stood at $3.30 billion versus $3.19 billion a year ago. The Company reported adjusted net income from continuing operations of $216.33 million, or $1.74 per diluted share, in FY17 compared to $222.21 million, or $1.80 per diluted share, reported in FY16.
Operational Metrics
The Company's cost of sales increased to $606.40 million in Q4 FY17 from $562.42 million in Q4 FY16. Gross profit for the reported quarter came in at $267.68 million, up from $249.99 million in Q4 FY16. selling, general, and administrative (SG&A) expenses also increased to $198.79 million in Q4 FY17 from $169.93 million in the last year's corresponding period. Furthermore, the Company's adjusted operating income came in at $68.89 million, or 7.9% of net sales, in Q4 FY17 versus $80.06 million, or 9.9% of net sales, in Q4 FY16.
Cash Flow and Liquidity
For the year ended December 31, 2017, the Company generated $218.77 million in cash from its operating activities compared to $246.97 million in the last fiscal year. The Company reported cash and cash equivalents of $262.02 million as on December 31, 2017, compared to $208.81 million as on December 31, 2016. Furthermore, the Company had long-term debt amounting to $1.06 billion as on December 31, 2017, compared to $1.29 billion as on December 31, 2016.
Outlook
In its guidance for FY18, Colfax is forecasting adjusted net income per share in the range of $2.00 to $2.15.
Stock Performance Snapshot
March 01, 2018 - At Thursday's closing bell, Colfax's stock marginally declined 0.25%, ending the trading session at $31.71.
Volume traded for the day: 1.15 million shares, which was above the 3-month average volume of 883.72 thousand shares.
After yesterday's close, Colfax's market cap was at $3.89 billion.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.
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