I have enjoyed good dividends and growth in the Wajax shares I have owned for approximately two years. What is your opinion on Wajax going forward? Regards.
Wajax Corp., $40.51, symbol WJX on Toronto (Shares outstanding: 16.6 million; Market cap: $672.5 million; www.wajax.ca), sells and services heavy equipment, including cranes and lift trucks. It also sells related parts (such as bearings, motors, hoses and fittings) and power systems (including diesel engines and transmissions).
Wajax operates through a network of 117 branches across Canada. Its customers are in the natural resources, construction, manufacturing, industrial processing and transportation industries.
In the three months ended September 30, 2011, the company’s revenue rose 22.9%, to $361.9 million from $294.4 million a year earlier. However, earnings fell 8.6%, to $17.9 million, or $1.08 a share, from $19.6 million or $1.18 a share. Cash flow per share rose 26.4%, to $1.82 from $1.44. That’s because the company had to start paying income tax in the latest quarter (a total of $6.7 million). It did not pay taxes a year earlier, when it was still an income trust.
Wajax is seeing continued strong demand across all its…
Privacy Policy and Terms of Use
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Changes to this Policy
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