Graco Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 25, 2015
January 25, 2016 at 04:43 pm
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Graco Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 25, 2015. For the quarter, the company reported net sales of $325,557,000 against $306,005,000 for the same period a year ago. Operating earnings was $76,076,000 against $69,465,000 for the same period a year ago. Earnings before income taxes were $73,034,000 against $67,041,000 for the same period a year ago. Net earnings were $53,544,000 or $0.94 per diluted share against $49,041,000 or $0.80 per diluted share for the same period a year ago. Cash provided by operating activities were $71 million.
For the year, the company reported net sales of $1,286,485,000 against $1,221,130,000 for the same period a year ago. Operating earnings was $302,125,000 against $308,925,000 for the same period a year ago. Earnings before income taxes were $474,713,000 against $315,073,000 for the same period a year ago. Net earnings were $345,713,000 or $5.86 per diluted share against $225,573,000 or $3.65 per diluted share for the same period a year ago. Net cash from operating activities was $189,639,000 compared to $241,255,000 a year ago. Property, plant and equipment additions were $41,749,000 compared to $30,636,000 a year ago.
Graco Inc. is a manufacturing company. It supplies technology and expertise for the management of fluids and coatings in industrial and commercial applications. It operates through three segments: Contractor, Industrial and Process. Contractor segment offers sprayers that apply paint to walls and other structures, with product models for users ranging from do-it-yourself homeowners to professional contractors. It also manufactures two-component proportioning systems that are used to spray polyurethane foam (spray foam) and polyurea coatings. Industrial segment includes the Industrial and Powder divisions. The Industrial segment markets equipment and solutions for moving and applying paints, coatings, sealants, adhesives and other fluids. Process segment includes the Process and Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids.