Key Developments For RC2 Corporation
RC2 Corporation (RCRC.O) (Nasdaq)
RC2 Corporation Raises FY 2009 Earnings Outlook
RC2 Corporation announced that it now expects fiscal 2009 net income to be higher than the $23.5 million reflected in its previous diluted earnings per share (EPS) guidance and will range from approximately $25 to $27 million or $1.30 to $1.40 per fully diluted share. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $1.33 and net profit of $26 million for fiscal 2009.
RC2 Corporation Completes Common Stock Offering And Announces Exercise Of Underwriters' Over-Allotment Option
RC2 Corporation announced that it has completed its previously announced public offering of common stock at a price of $15.00 per share to the public. The Company also announced that the underwriters in the offering have exercised their option to purchase additional shares to cover over-allotments in full, resulting in a total sale to the public of 4,025,000 shares of common stock. The Company expects to receive net proceeds from the offering of $57.1 million after deducting underwriting discounts and commissions and estimated expenses of the offering. The Company will use the net proceeds from the offering for general corporate and working capital purposes, including the potential repayment of long-term debt and the funding of future acquisitions. Robert W. Baird & Co. acted as the lead underwriter for the offering. BMO Capital Markets and Needham & Company acted as co-managers for the offering.
RC2 Corporation Announces Pricing Of Common Stock Offering
RC2 Corporation announced that it has priced a public offering of 3,500,000 shares of common stock. RC2 Corporation has granted the underwriters in the offering an option to purchase up to 525,000 additional shares of common stock at the same price per share to cover any over-allotments. The public offering of shares is expected to close on August 4, 2009. Assuming no exercise of the underwriter's over-allotment option, RC2 expects to receive net proceeds from the offering of approximately $49.6 million after deducting underwriting discounts and commissions and estimated expenses of the offering. The Company will use the net proceeds from the offering for the potential repayment of long-term debt and the funding of future acquisitions. Robert W. Baird & Co. acted as the lead underwriter for the offering. BMO Capital Markets and Needham & Company acted as co-managers for the offering.
RC2 Corporation Announces Common Stock Offering
RC2 Corporation announced that it has commenced a public offering of 3,000,000 shares of common stock. RC2 Corporation will grant the underwriters in the offering an option to purchase up to 450,000 additional shares of common stock at the same price per share to cover any over-allotments. RC2 Corporation expects to use the net proceeds from the offering for general corporate and working capital purposes, including the potential repayment of long-term debt and the funding of future acquisitions. Robert W. Baird & Co. will act as the lead underwriter for the offering.
RC2 Corporation Reaffirms FY 2009 EPS Guidance
RC2 Corporation announced that it continues to expect fiscal 2009 diluted earnings per share (EPS) to be approximately $1.35 with potential earnings upside if recent chain retailer ordering patterns prove to be sustainable and order trends in the specialty retailer, wholesaler and OEM channel improve in the second half of 2009.
