Key Developments For Dynamic Materials Corp
Dynamic Materials Corp (BOOM.O) (Nasdaq)
Dynamic Materials Corporation Issues Q4 2009 Revenue Guidance In Line With Analysts' Estimates; Issues FY 2009 Revenue Guidance Slightly Above Analysts' Estimates-Conference Call
Dynamic Materials Corporation announced that for fourth quarter of 2009, it expects sales to be up sequentially by 10%-20% versus the third quarter of 2009. The Company reported revenue of $34.69 million for third quarter of 2009. For fiscal 2009, it expects sales to be 29%-31% below sales in fiscal 2008. The Company reported revenue of $232.58 million for fiscal 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $39.03 million for fourth quarter of 2009; revenue of $159.6 million for fiscal 2009.
Dynamic Materials Corporation Acquires Canadian LRI Oil Tools
Dynamic Materials Corporation announced it has acquired 100% of the stock of Alberta, Canada-based LRI Oil Tools Inc. (LRI). The cash and stock transaction is valued at approximately USD650,000, and includes 9,584 shares of DMC restricted common stock. The Company intends to make an additional capital contribution of approximately USD2.2 million into the LRI business to reduce indebtedness and enhance working capital.
Dynamic Materials Corporation Declares Regular Cash Dividend
Dynamic Materials Corporation announced that its Board of Directors has declared a regular quarterly cash dividend of $0.04 per share. The dividend is payable on October 15, 2009, to shareholders of record as of September 30, 2009.
Dynamic Materials Corporation Awarded $14.8 Million In Orders For Clad Plates To Be Used In Major Australian Natural Gas Project
Dynamic Materials Corporation announced that its Explosive Metalworking business has received two related orders with a combined value at $14.8 million. Both orders are for explosion-welded plates to be used to manufacture upstream equipment for the Gorgon natural gas project located off of Australia's northwest coast. The plates will be produced at Dynamic Materials Corporation's Mt. Braddock, Pennsylvania production facility and are scheduled to ship to German and U.S. fabricator customers during the first half of 2010.
Dynamic Materials Corporation Lowers FY 2009 Revenue Guidance; Issues Q3 2009 Revenue Guidance Below Analysts' Estimates
Dynamic Materials Corporation announced that it is now forecasting fiscal 2009 sales to be down between 28% and 32% versus fiscal 2008. The Company previously had forecasted a decline of between 17% and 23%. The Company is expecting that third quarter 2009 sales to be 10% to 15% below those of the second quarter 2009. The Company reported revenue of $232.58 million for fiscal 2008 and revenue of $37.8 million for the second quarter 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $162.50 million for fiscal 2009; revenue of $36.52 million for the third quarter 2009.
