Somero Enterprises, Inc. Provides Earnings Guidance for the Year Ending December 31, 2016
July 12, 2016 at 02:00 am EDT
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Somero Enterprises, Inc. provided earnings guidance for the year ending December 31, 2016. For the period, the company highlighted overall results were tracking comfortably in-line with market expectations for the full year ending 31 December 2016 due to positive trading in the company's core North American, European and Chinese markets. Somero to report that trading in June was significantly stronger than both the previous month and when compared to a year ago. This was led by particularly strong activity in North America; with China, the Middle East, and Europe each contributing satisfactorily to overall growth. The strong performance in June and the continuation of the positive trading environment together with margin improvement and solid operating cash flow generation mean the Company now expects to report results slightly ahead of current market expectations for the full year ending 31 December 2016.
Somero Enterprises, Inc. designs, assembles, remanufactures, sells, and distributes concrete leveling, contouring and placing equipment, related parts and accessories, and training services around the world. Its products are machinery used in the process of horizontal concrete placement. Its product categories include Lightweight Screeds, Ride-on Laser Concrete Screeds, Boom Screeds, Skyline Stationary Laser Screeds, Materials Placement, and Software Packages. Its Lightweight Screeds include Mini Screed C and CopperHead XD 3.0. Its Ride-on Laser Concrete Screeds consist of S-485 Laser Screed and S-940 Laser Screed. Its Boom Screeds include S-28EZ Laser Screed, S-PS50 Laser Screed, and others. Its Skyline Stationary Laser Screeds consist of SkyScreed 36 (SkyStrip). Its Materials Placement includes Broom + Cure Machine, Somero LineDragon, and STS-11M Topping Spreader. Its software packaging includes 3-D Concrete Profiler System, SiteShape System, and Somero Floor Levelness System.