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Protective apparel maker DHB revenue reaches record $88mn
29 Jul '05
4 min read
For the six months ended June 30, 2005, DHB reported record revenues of $173,661,000 as compared to revenues of $160,469,000 for the first six months of 2004. DHB was cash flow positive during this period, generating $8,291,000 of cash from operations. During the second quarter of 2004, the Company was cash flow negative, using cash in operations of $19,425,000.
Operating income increased to a record $25,213,000 as compared to $23,883,000 in the first six months of 2004. Income available to common stockholders was a record $15,217,000 or $0.33 per diluted share as compared to $13,839,000 or $0.30 per diluted share in comparable period last year.
The effective tax rate was 35.5 percent as compared to 39.6 percent reported in the comparable six month period of 2004.
Stockholders' equity rose to $92,799,000 at June 30, 2005, a 20.5 percent increase as compared to $77,026,000 at year-end December 31, 2004 and an increase of 8.9 percent as compared to $85,201,000 at March 31, 2005.
Commenting on the Company's second quarter performance, General (Ret.) Larry Ellis said, "I am very pleased with the progress we've made this past quarter, as they continue to execute on their strategy to become the leading and trusted provider of protective body armor to the U.S. Armed Forces, and their nation's federal, state and law enforcement agencies.
The second quarter results are indicative of the ongoing demand for their products and reinforce the quality and reliability that their customers have come to depend upon. The management team at DHB remains focused on driving both top-and bottom-line results and they believe their efforts to strengthen their senior staff, improve business processes and expand their market presence both domestically and internationally will lead to enhanced shareholder value over the long-term."
Operating income increased to a record $25,213,000 as compared to $23,883,000 in the first six months of 2004. Income available to common stockholders was a record $15,217,000 or $0.33 per diluted share as compared to $13,839,000 or $0.30 per diluted share in comparable period last year.
The effective tax rate was 35.5 percent as compared to 39.6 percent reported in the comparable six month period of 2004.
Stockholders' equity rose to $92,799,000 at June 30, 2005, a 20.5 percent increase as compared to $77,026,000 at year-end December 31, 2004 and an increase of 8.9 percent as compared to $85,201,000 at March 31, 2005.
Commenting on the Company's second quarter performance, General (Ret.) Larry Ellis said, "I am very pleased with the progress we've made this past quarter, as they continue to execute on their strategy to become the leading and trusted provider of protective body armor to the U.S. Armed Forces, and their nation's federal, state and law enforcement agencies.
The second quarter results are indicative of the ongoing demand for their products and reinforce the quality and reliability that their customers have come to depend upon. The management team at DHB remains focused on driving both top-and bottom-line results and they believe their efforts to strengthen their senior staff, improve business processes and expand their market presence both domestically and internationally will lead to enhanced shareholder value over the long-term."
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