Key Developments: LMI Aerospace Inc (LMIA.OQ)
19.53USD
18 Jun 2013
$0.26 (+1.35%)
$19.27
$19.36
$19.75
$19.36
10,671
15,112
$23.10
$16.46
Latest Key Developments (Source: Significant Developments)
LMI Aerospace Inc Lowers FY 2013 Revenue Guidance
LMI Aerospace Inc updated fiscal 2013 guidance and expects net sales between $469 million and $493 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $479 million for fiscal 2013. Full Article
LMI Aerospace Inc Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates
LMI Aerospace Inc announced that for fiscal 2013, it expects net sales between $469 million and $493 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $480 million for fiscal 2013. Full Article
LMI Aerospace Inc Completes Acquisition of Valent Aerostructures
LMI Aerospace Inc announced that it completed its acquisition of Valent Aerostructures, LLC (Valent) on December 28, 2012. Headquartered in Kansas City, Missouri, Valent is a provider of complex, structural components, sub-assemblies and machined parts for OEM and Tier 1 airframe manufacturers in the aerospace and defense industries. The acquisition was structured as a purchase of all the outstanding equity of Valent for a price of $237 million, plus certain retained obligations of $9.7 million and subject to adjustment for working capital and transaction expenses. As part of the purchase price, LMI issued to the former equity holders of Valent an aggregate of approximately 784,000 shares of LMI common stock, which represented $15 million of value. The purchase agreement also includes a potential earnout of up to $40 million in the event Valent surpasses certain EBITDA thresholds in 2013. In connection with the closing of the acquisition, LMI completed its previously announced debt refinancing and entered into $300 million of new senior secured credit facilities comprised of a $225 million term loan facility and a $75 million revolving credit facility. LMI has used or expects to use the new facilities to finance the Valent acquisition, refinance existing debt and for general corporate purposes including working capital requirements. Full Article
LMI Aerospace Inc to Acquire Valent Aerostructures; Provides $300 Million Of New Senior Secured Credit Facilities
LMI Aerospace Inc announced that it has agreed to acquire Valent Aerostructures, LLC for approximately $237 million, plus approximately $9.7 million of certain retained obligations. The transaction, unanimously approved by LMI's Board of Directors and is expected to be completed by December 31, 2012. The purchase consideration payable to Valent's equity holders at closing would be approximately $237 million, less retained indebtedness of approximately $12.6 million and would include $15 million of LMI stock. The aggregate consideration of approximately $246.7 million with respect to the transaction, which includes the retained obligations of $9.7 million. LMI has entered into a commitment letter with RBC Capital Markets to provide $300 million of new senior secured credit facilities to finance the Valent acquisition, refinance existing debt and fund working capital requirements. The new senior credit facilities would replace LMI's existing senior credit facility. Advisors to LMI on the transaction are RBC Capital Markets, exclusive financial advisor; Polsinelli Shughart PC, legal advisor; and AeroAdvisory, LLC, strategic deal planning and due diligence advisor. Advisors to Valent are: Wells Fargo Securities, financial advisor and SNR Denton, legal advisor. Full Article
LMI Aerospace Inc Lowers FY 2012 Revenue Guidance; Raises FY 2013 Revenue Guidance
LMI Aerospace, Inc. updated fiscal 2012 guidance and expects net sales to be net sales between $279.0 million and $283.0 million. For fiscal 2013, it expects net sales between $332.0 million and $350.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $289 million for fiscal 2012 and revenue of $325 million for fiscal 2013. Full Article
LMI Aerospace, Inc. Acquires TASS, Inc
LMI Aerospace, Inc. announced that it has acquired TASS Inc., an after-market engineering and support services firm. Financial terms were not mentioned. Full Article
LMI Aerospace, Inc. Reaffirms FY 2012 Revenue Guidance; Issues FY 2013 Guidance In Line With Analysts' Estimates
LMI Aerospace, Inc. updated fiscal 2012 guidance and expects net sales to be net sales between $282.0 million and $298.0 million. For fiscal 2013, it expects net sales between $314.0 million and $332.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $286 million for fiscal 2012 and revenue of $314 million for fiscal 2013. Full Article
LMI Aerospace, Inc. Reaffirms FY 2012 Revenue Guidance
LMI Aerospace, Inc. reaffirmed its fiscal 2012 Net sales guidance to be in the range of between $282.0 million and $298.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $288 million for fiscal 2012. Full Article
LMI Aerospace, Inc. Lowers FY 2012 Revenue Guidance
LMI Aerospace, Inc. updated fiscal 2012 guidance and expects revenue to be in the range of $282.0 million and $298.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $295 million for fiscal 2012. Full Article
LMI Aerospace, Inc. Lowers FY 2011 Revenue Guidance; Raises FY 2012 Revenue Guidance
LMI Aerospace, Inc. announced that for fiscal 2011, it expects total net sales of between $253.3 million and $259.3 million. For fiscal 2012, it expects net sales of between $290.0 million and $308.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $262 million for fiscal 2011; revenue of $296 million for fiscal 2012. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
