Measurement Specialties Q4 Profit Rises, But EPS Flat

(RTTNews) - Measurement Specialties Inc. (MEAS) reported fourth-quarter net income of $9.3 million or $0.56 per share, compared to net income of $9.1 million or $0.56 per share for the same period last year.

Consolidated net sales increased 17.9% year-over-year to $104.9 million. Excluding sales attributed to the Spectrum and Sensotherm acquisitions of approximately $6.5 million for the latest-quarter, organic sales increased $9.4 million or approximately 10.6%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share and revenues of $104.70 million for the quarter. Analysts' estimates typically exclude special items.

Frank Guidone, Company CEO said, "We are pleased with our fiscal 2014 performance. With strong 4th quarter bookings, momentum on development programs and contribution from the Wema acquisition announced yesterday, we believe we are well positioned to deliver solid growth and strong earnings performance in fiscal 2015, with acceleration in fiscal 2016 through integration and synergies. While Wema will be initially dilutive to EBITDA margin, we are confident through growth and synergies it should perform in-line with our base business. We expect Wema to add approximately $100 million in sales for the remaining 10 months of fiscal 2015, and are therefore raising fiscal 2015 sales guidance to approximately $540 million."

The company expects fiscal 2015 Adjusted EBITDA margin of about 19% of sales, with improvement in margin in fiscal 2016 as synergies are realized.