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What Has Perceptron Soaring 32 Percent Thursday? (PRCP)

Zemanta Related Posts ThumbnailShares of $73 million industrial name, Perceptron (NASDAQ: PRCP) are up 32 percent this morning after the company reported earnings that impressed investors. The company reported fourth quarter EPS of $0.46 and net sales of $20.70 million. In the same quarter of 2012, net sales were $12.8 million for a year over year increase of 61.7 percent.

“We are particularly pleased with our sales, gross margin and operating income in the fourth quarter this year,” said Jack Lowry, Perceptron’s Chief Financial Officer. “Sales of $20.7 million represented a very strong quarter for the Company. Not only was our gross margin very solid at 48.1%, but our operating income for the quarter represented 18% of sales. Other income/expense in the fourth quarter included approximately a $1.1 million gain we recorded from the June redemption, at par, of one of our preferred stock holdings upon which we had recorded an impairment charge in fiscal year 2009. That gain was partially offset by a $240,000 foreign exchange loss in the quarter, principally due to weakness in the Brazilian Real and Japanese Yen. Net income of $4.0 million represented 19.3% of sales.”

Company Profile:

Perceptron develops, produces, and sells non-contact measurement and inspection solutions for industrial applications. The Company’s products provide solutions for manufacturing process control as well as sensor and software technologies for non-contact measurement, scanning, and inspection applications. Automotive and manufacturing companies throughout the world rely on Perceptron’s metrology solutions to help them manage their complex manufacturing processes to improve quality, shorten product launch times and reduce overall manufacturing costs.

The Company also offers Value Added Services such as training and customer support services. Headquartered in Plymouth, Michigan, Perceptron has approximately 235 employees worldwide, with operations in the United States, Germany, France, Spain, Brazil, Japan, Singapore, China and India.

 

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