Published on November 15th, 2013 | Edited by: Jim Destefani0
Ceramics and glass business news of the weekPublished on November 15th, 2013 | Edited by: Jim Destefani
SCI Engineered Materials Inc., a Columbus, Ohio, manufacturer of advanced materials for physical vapor deposition thin-film applications, recently reported financial results for the third quarter (pdf). Total revenue of $1,810,044 was the highest quarterly amount this year, but still less than the $1,982,403 reported in Q3 2012. Gross profit was $416,836 for the third quarter 2013 compared to $562,176 a year ago. Gross profit was 23% of total revenue—the highest of 2013—compared with 28.4% for the third quarter 2012. Earnings before interest, taxes, depreciation, and amortization totaled $81,754 for the third quarter 2013 versus $258,257 for the same period in 2012. Quarterly adjusted EBITDA, which excludes non-cash stock based compensation, was $113,110 versus $289,673 a year ago. The company reported a loss of $76,322 for the quarter versus income of $84,711 for the third quarter 2012.
Plibrico Co. LLC, the Chicago, Ill.-based supplier of aluminosilicate and high alumina monolithic refractory products, has added Riendeau Refractaires Inc., Sainte-Julie, Quebec, to its preferred exclusive network of refractory contractors. Riendeau will be Plibrico’s preferred exclusive agent for Quebec. The company provides refractory expertise in a number of industries, including aluminum, cement/lime, petrochemical, ferrosilicon, copper, steel, boilers, and incinerators.
Rockwood Holdings has released third-quarter earnings data, reporting earnings per share of $0.63. The company says it had revenue of $890.1 million for the quarter, an increase of 3.2% over Q3 2012 revenue. The company also declared a $0.45 per share quarterly dividend and announced a new share repurchase program of up to $500 million to be completed over two years. This program is in addition to the $400 million share repurchase program recently completed in the third quarter 2013.
Micromeritics Instrument Corp. has completed the acquisition of PoroTechnology, a Texas-based company that provides rock property data to the US and international oil and gas industry. PoroTechnology will operate as a business unit of Micromeritics and leverage the analytical assets of the latter’s Analytical Services division. The division provides AutoPore mercury injection capillary pressure instruments and laboratory facilities. In addition to providing contract analytical laboratory services, Micromeritics also manufactures, sells, and services analytical lab instrumentation.
(The Hindu Business Line) New Delhi, India, tile manufacturer (and ACerS Corporate Member) Somany Ceramics Ltd. plans to increase tile production by more than 15% through joint ventures and outsourcing to contract manufacturers. The company says it will focus more on value-added products and begin outsourcing “plain vanilla” products to smaller manufacturers. Somany currently can produce 35 million m2 of tile; it would like to increase that to 41 million m2 through the new strategy. Three joint ventures are currently operational, with more possible by the end of the current fiscal year, the company says.
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