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Why Kewaunee Scientific is up 18 Percent Wednesday (KEQU)

7544735974_1c5eb77371_zShares of Kewaunee Scientific (NASDAQ: KEQU) are up 18 percent in early trading Wednesday following a blowout earnings announcement. EPS was $0.61 on sales of $32 million and net earnings of $1.58 million. EPS was up an impressive 144 percent year over while revenue was up 20 percent over the same time period.

“We had an excellent quarter, both domestically and internationally,” said David M. Rausch, Kewaunee’s President and Chief Executive Officer.  “During the quarter, the Company substantially benefited from the favorable timing of several projects. I also am extremely pleased with the performance achieved throughout our organization. In Statesville where Domestic sales were up nearly 20% over the prior year, our Metal Plant and Epoxy Resin Plant produced record shipments, while maintaining high levels of quality and productivity. Our International Operations also had an excellent quarter with sales up nearly 22% over the prior year. Despite these much higher volumes, our Associates continued to do an excellent job in controlling operating costs.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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