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Standex International Corporation reports developments for a global multi-industry manufacturer operating through Electronics, Engineering Technologies, Scientific, Engraving, and Specialty Solutions businesses. News commonly covers quarterly earnings, segment sales and margins, order trends, new product activity, and demand in markets served by its sensing, switching, magnetic power conversion, engraving, scientific, and engineered-technology operations.
Company updates also include portfolio actions such as completed divestitures, acquisition contributions, debt reduction, dividend declarations, and investor conference participation. Standex’s disclosures frequently emphasize its Electronics segment, global manufacturing footprint, fast-growth market sales, and long-running quarterly dividend history as part of its public-company profile.
Standex International Corporation (NYSE:SXI) reported its 4Q fiscal 2020 results, revealing a 17.4% decline in net sales to $139.4 million and a 50.7% drop in net income from continuing operations to $6.1 million. Operating income plummeted 47.9% to $10.1 million. EBITDA also decreased 31.4% to $18.6 million, with a notable fall in diluted EPS of 49.5% to $0.50. In contrast, dividends per share saw a 10% increase to $0.22. The company anticipates flat to slightly increased revenue for the first quarter of fiscal 2021, mainly due to recovery in Electronics and Engraving segments.
Standex International Corporation (NYSE:SXI) will announce its fourth quarter fiscal 2020 financial results on August 24, 2020 after market close. A live conference call will be held on August 25, 2020 at 8:30 a.m. ET, featuring Chairman David Dunbar and CFO Ademir Sarcevic discussing the results and outlook. Investors can access the call through the "Investors" section of Standex's website. A replay will be available post-presentation.
Standex International Corporation (NYSE: SXI) has declared a quarterly cash dividend of $0.22 per share, payable on August 25, 2020, to shareholders on record as of August 6, 2020. This marks the company's 224th consecutive quarterly cash dividend, reflecting its commitment to returning value to shareholders. Standex has consistently paid dividends since its public listing in November 1964.
Standex International Corporation (NYSE: SXI) has acquired Florida-based Renco Electronics for approximately $28 million in cash, with a potential three-year earnout based on financial targets. The acquisition is financed through Standex's existing cash reserves and is expected to be accretive to earnings in its first year. Renco, which reported trailing revenues of $28 million, specializes in customized magnetics components for various markets, enhancing Standex's engineering expertise and customer relationships.