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Sales at Standex Corp grow, albiet slowly
31 Oct '08
3 min read
million, up 24% versus the prior year quarter.
-- Net working capital (defined as accounts receivable plus
inventories less accounts payable) was $135.8 million at the
end of the first quarter of fiscal 2009 compared with $129.3
million in the prior year. Working capital turns decreased to
5.3 turns from 5.4 turns for the first fiscal quarter of 2008.
Net working capital for the first quarter included $923,000 of
working capital associated with the acquisition of BG Labs,
which was completed during the first quarter.
-- Net debt (defined as short-term debt plus long-term debt less cash) increased to $115.3 million at September 30, 2008 from $106.0 million at June 30, 2008. The Company's balance sheet leverage ratio of net debt to total capital was 34.4% at
September 30, 2008 compared with 32.2% at June 30, 2008.
-- Net working capital (defined as accounts receivable plus
inventories less accounts payable) was $135.8 million at the
end of the first quarter of fiscal 2009 compared with $129.3
million in the prior year. Working capital turns decreased to
5.3 turns from 5.4 turns for the first fiscal quarter of 2008.
Net working capital for the first quarter included $923,000 of
working capital associated with the acquisition of BG Labs,
which was completed during the first quarter.
-- Net debt (defined as short-term debt plus long-term debt less cash) increased to $115.3 million at September 30, 2008 from $106.0 million at June 30, 2008. The Company's balance sheet leverage ratio of net debt to total capital was 34.4% at
September 30, 2008 compared with 32.2% at June 30, 2008.
Standex Corp
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