LCI INDUSTRIES LONDON, UK / ACCESSWIRE / February 21, 2018 / Active-Investors.com has just released a free research report on LCI Industries (NYSE: LCII) ("LCI"). 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=LCII as the Company's latest news hit the wire. On February 17, 2018, the Company announced that its wholly-owned subsidiary, Lippert Components Manufacturing, Inc. ("Lippert"), has acquired all of the business assets of Los Angeles-based Hehr International Inc. Hehr manufactures windows as well as tempered and laminated glass for the recreational vehicles (RV), transit, specialty vehicle, and other adjacent industries. It achieved sales of approximately $55 million for the twelve months ended December 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
www.active-investors.com/registration-sg/?symbol=LCII
Following the acquisition, Hehr's team will remain with LCI to lead the acquired business under the direction of Josh Roan, Vice President of Operations.
Acquisition is Expected to be Immediately Accretive to LCI's Earnings
Commenting on the acquisition, Scott Mereness, President of LCI, stated that Hehr's geographic diversification allows the Company to better serve its customers. Additionally, Hehr's customer base is a great mix of various industries that are targeting for growth. Hehr is another highly strategic LCI investment. Scott added that LCI expects to leverage its purchasing, sales, distribution, and administrative capabilities to improve the profitability of the business, and this acquisition is expected to be immediately accretive to LCI's earnings.
LCI's Recent Acquisition
On January 26, 2018, LCI completed the acquisition of Taylor Made Group, LLC. Taylor Made is LCI's largest acquisition in its history.
Headquartered in Gloversville, New York, Taylor Made was one of the recreational marine industry's largest, most diversified suppliers to boat builders and the aftermarket as well as a key supplier to a host of other industrial end markets. Taylor Made operated out of ten facilities, including two in Europe. Sales of the acquired business for the twelve months ending December 2017 were approximately $150 million. The addition of Taylor Made's products enabled LCI to become a leading supplier of marine and industrial market windshields. Post-acquisition, a majority of the Taylor Made team remained with LCI to lead the acquired business under the direction of Jason Falk, Vice President of Operations.
LCI's Q4 2017 Results
On February 08, 2018, the Company reported financial results for the fourth quarter ending December 2017 (Q2 FY17).
LCI's consolidated net sales were $547 million for Q4 FY17, a 36% increase over Q4 FY16 net sales of $403 million. The Company's net income was $17.5 million, or $0.68 per diluted share, in Q4 FY17 compared to net income of $26.3 million, or $1.05 per diluted share, in Q4 FY16. Net income in Q4 FY17 included a one-time non-cash charge of $13.2 million ($0.52 per diluted share) related to the estimated impact of the Tax Cuts and Jobs Act.
The increase in year-over-year net sales reflected industry-wide growth in wholesale shipments of towable and motorized RVs by OEMs, which increased 20% and 16%, respectively, in Q4 FY17, enhanced by solid growth in content per unit and acquisitions. Net sales from acquisitions completed by LCI over the twelve months ended December 31, 2017 contributed $20 million in Q4 FY17. Organic growth rate was 31% for Q4 and acquisitions provided the remainder of the 36% increase. Through continued focus on aftermarket channels for LCI's products, the Company increased net sales to the aftermarket in Q4 FY17 by 36% to $41 million.
About Lippert Components Manufacturing, Inc.
Founded in 1962, Lippert, through its wholly-owned subsidiary, Lippert Components Inc., develops custom product solutions in a broad range of categories including towing, leveling, awnings, chassis, axles, slide-outs, storage, waste management, electronics, windows, doors, mattresses, furniture plastics, e-coating and more, for the leading original equipment manufacturers (OEMs) of RVs and adjacent industries, and the related aftermarkets of those industries. Headquartered in White Plains, New York, the Company's manufacturing and distribution facilities are located throughout the United States, Canada, Ireland, Italy, and the United Kingdom.
Stock Performance Snapshot
February 20, 2018 - At Tuesday's closing bell, LCI Industries' stock was slightly down 0.18%, ending the trading session at $113.55.
Volume traded for the day: 205.60 thousand shares, which was above the 3-month average volume of 149.23 thousand shares.
Stock performance in the previous six-month period ? up 19.59%; and past twelve-month period ? up 4.22%
After yesterday's close, LCI Industries' market cap was at $2.95 billion.
Price to Earnings (P/E) ratio was at 24.04.
The stock has a dividend yield of 1.94%.
The stock is part of the Consumer Goods sector, categorized under the Recreational Vehicles industry.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
