Tuesday, May 26, 2015

AirBoss of America Corporation - BOS.t

AirBoss of America Corporation - BOS.t is one of North America’s largest custom rubber mixers serving a diverse group of rubber products manufacturers.

The company engineers and moulds rubber products for the transportation, defense and industrial markets as well as for proprietary designs of personal protective wear.
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On May 13, 2015 the company released Numbers

"Q1 2015 versus Q1 2014 Highlights:

 Net sales increased by 7.6% to $76.9 million
 Gross margin improved to 16.2% from 13.2%
 EPS increased by 27.3% to US $0.14 from US $0.11
 EBITDA increased by 12.6% to $7.1 million”

The first quarter of 2015 showed continued momentum across all of our divisions, demonstrating management’s focus on executing our business plan with a keen focus on margin improvement and delivering excellent returns to our shareholders. Net income increased 28% to $3.2 million and gross margin improved to 16.2% from 13.2% driven by strong performances across all of our divisions. We are very encouraged by these results and our team’s ongoing efforts.

For the quarter, Rubber Compounding volumes (expressed in pounds shipped) increased 1.6% over the same period in 2014. Volume increases in our mining, solid tire and defense segments more than offset declines in off road tire retreading, which were negatively impacted by the severe winter weather conditions in the US, and the forecasted decline in our conveyor belting segment. Gross margin, both as a percentage and on a dollar basis, showed impressive improvement over Q1 2014. Tolling, as a proportion of overall volume, was down 1.1% however we are seeing strong demand in this segment for Q2 2015 and we have several positive opportunities which we expect to commercialize in the second half of the year.