Cadre Holdings, Inc. manufactures and distributes safety and survivability equipment for law enforcement, first responder, military and nuclear markets. Its product categories include body armor, explosive ordnance disposal equipment, duty gear, nuclear safety products and blast attenuation seating, with brands including Safariland and Med-Eng.
Recurring Cadre news centers on operating results and guidance, Product and Distribution segment performance, quarterly cash dividend actions, contract awards for mission-critical safety equipment, and acquisition activity tied to public safety and nuclear safety markets. Company updates also describe customer applications across federal, state and local law enforcement, fire and rescue professionals, emergency medical technicians and explosive ordnance disposal teams.
Cadre Holdings, Inc. (NYSE: CDRE) reported second-quarter 2022 net sales of $118.2 million, a slight increase from $114.6 million in Q2 2021. However, net income dropped to $4.4 million ($0.12/share) from $6.8 million y-o-y. Adjusted EBITDA for the quarter was $18.4 million, down from $20.5 million in Q2 2021. Gross profit margin fell to 36.6%, influenced by inventory amortization and a less favorable portfolio mix. Cadre reaffirmed its 2022 guidance, expecting net sales between $444.0 million and $452.0 million. The company remains focused on enhancing its liquidity through strategic acquisitions and operational efficiencies.
Cadre Holdings, Inc. (NYSE: CDRE) will release its second quarter financial results for the period ending June 30, 2022, on August 11, 2022, after market close. A conference call, featuring CEO Warren Kanders and other executives, is scheduled for 5:00 p.m. ET the same day. Participants can join by dialing (888)-510-2553 for domestic or (646)-960-0473 for international access. A replay will be available until August 25, 2022, and webcast details will be archived for 30 days on the company's website.
Cadre Holdings, Inc. (NYSE: CDRE) has declared a quarterly cash dividend of $0.08 per share, amounting to $0.32 annually. This payment will be distributed on August 12, 2022, to shareholders recorded as of August 1, 2022. The future dividends will be determined at the discretion of Cadre's Board of Directors. Cadre specializes in safety and survivability products for first responders and operates globally, supplying critical protective gear.
Cadre Holdings, Inc. (NYSE: CDRE) announced a public offering of 4,000,000 shares at $23.50 each, comprising 2,250,000 shares from the company and 1,750,000 from selling stockholders. The primary offering increased from an initial 1,750,000 shares. An additional 600,000 shares may be purchased by underwriters within 30 days of the offering's close, expected on June 14, 2022. Net proceeds will reduce debt and fund corporate needs. BofA Securities and Jefferies lead the offering.
Cadre Holdings, Inc. (NYSE: CDRE) has announced a public offering of 1,750,000 shares of common stock, with a 30-day option for underwriters to buy an additional 525,000 shares. The offering is part of a registration statement filed with the SEC. Proceeds will be used to reduce debt and for general corporate purposes, while selling stockholders will receive the net proceeds from their shares. BofA Securities and Jefferies LLC are the lead book-running managers for this offering.
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Cadre Holdings, Inc. (NYSE: CDRE) has completed its acquisition of Cyalume Technologies for $35 million, expected to be immediately accretive. The purchase has been funded through available cash and credit facilities. Cyalume's management will remain with the business post-acquisition. Cadre is a leading manufacturer of safety and survivability products for first responders, providing essential equipment used by emergency professionals globally.
Cadre Holdings, Inc. (NYSE: CDRE) announced plans to release its financial results for Q1 2022 on May 12, 2022, after market close. A conference call will take place the same day at 5:00 p.m. ET, featuring CEO Warren Kanders and other executives. Interested participants can join via phone or a live webcast, accessible through Cadre's website. A replay will be available until May 26, 2022.
Cadre Holdings, Inc. (NYSE: CDRE) announced the acquisition of Cyalume Technologies for $35 million, a move aimed at bolstering its mission-critical product portfolio. Cyalume, a leader in chemical illumination solutions for military and commercial sectors, is expected to generate approximately $25 million in annual revenues. The transaction, anticipated to be immediately accretive, is set to close in May 2022, funded through cash reserves and credit facilities. This acquisition aligns with Cadre's strategy of acquiring high-margin companies with strong cash flows.
Cadre Holdings, Inc. (NYSE: CDRE) has declared a quarterly cash dividend of $0.08 per share, amounting to $0.32 annually. This will be paid on May 13, 2022 to shareholders on record as of May 2, 2022. As a leader in safety equipment for first responders, Cadre provides crucial protection products used across over 100 countries. However, future dividends depend on the Board of Directors’ discretion.