Quote of the Day
"Our non-U.S. revenues increased 135% in 2007, contributing over 30% of our total revenues and strong cash returns. - William Griffiths, chairman, president and CEO of Champion Enterprises, Inc.
Black & Decker Director Sells Shares. "A director of toolmaker Black & Decker Corp. (BDK) exercised options for 2,500 shares of common stock, according to a SEC filing Wednesday. In a Form 4 filed with the SEC, Norman R. Augustine reported he exercised options for the shares Tuesday for $49.88 apiece and then sold the same number of them the same day for $68.51 to $68.54 apiece. Insiders file Form 4s with the SEC to report transactions in their companies' shares."
Interface Reports Record Fourth Quarter and Full Year 2007 Results. "Interface, Inc. (IFSIA) a worldwide floorcoverings company [said] sales for Q4'07 increased 13.2% to $293.3 million from sales of $259.1M in Q4'06... Operating income for Q4'07 increased 31.9% to a record $39.4M, or 13.4% of sales, compared with operating income of $29.9M, or 11.5% of sales, in Q4'06. Income from continuing operations was a record $20.3M in Q4'07, an increase of 63.1% compared with income from continuing operations of $12.4M in Q4'06. Net income for Q4'07 was $20.3M, or $0.33/diluted share, compared with net income of $12.1M, or $0.21/diluted share, in Q4'06."
Champion Enterprises Reports 8 Percent Increase in Revenues and $44 Million Increase in Cash from Operations for the Fourth Quarter of 2007. "Champion Enterprises, Inc. (CHB), a leader in factory-built construction, [said] Q4 revenues increased 8.2% to $325.6 million compared to $300.9M for Q4'06. The Company reported a Q4 net loss of $6.0M, or $0.08/diluted share, compared to net income of $3.6M, or $0.05/diluted share, for Q4'06... Revenues for 2007 decreased 6.7% to $1.27 billion compared to $1.36B reported for 2006. Net income for 2007 totaled $7.2M, or $0.09/diluted share, compared to net income of $138.3M, or $1.78/diluted share, in 2006. Net income in 2006 included $101.9M of income from the reversal of the previously recorded deferred tax valuation allowance and $4.7M of pre-tax gains from property sales."
Tupperware Brands Corporation Declares Quarterly Dividend. "Tupperware Brands Corporation (NYSE:TUP) announced today that its board of directors declared the Company's regular quarterly dividend of 22 cents per share, payable on April 3, 2008, to shareholders of record as of March 13, 2008."
Masco Expects Housing Starts To Drop In '08. "Masco Corp.'s forecast for U.S. housing starts should give the chills to anyone looking for homebuilding and related industries to rebound anytime soon. The maker of Behr paints, Delta faucets and KraftMaid cabinets expects a decline this year that will at least match last year's drop, the biggest since 1991. The forecast, included in Masco's fourth-quarter earnings released last week, calls for U.S. builders to break ground on 900,000-1 million homes. Even if starts reach the high end of the company's range, 2008 will be the worst year in the five decades that the Commerce Department has tracked them."
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