Winpak Ltd., $17.01, symbol WPK on Toronto (Shares outstanding: 65 million; Market cap: $1.1 billion; www.winpak.com), makes and distributes packaging machines and materials. Its products are mainly used for perishable foods, beverages and in health care applications.
The U.S. is Winpak’s largest market, accounting for 79% of its sales. Canada supplies 16%, and the rest of world accounts for the remaining 5%.
In the three months ended September 30, 2012, Winpak lowered its selling prices in response to lower raw material costs. That pushed down its revenue by 3.1%, to $165.4 million from $170.9 million a year earlier (all figures except share price and market cap in U.S. dollars). However, earnings rose 18.3%, to $17.3 million, or $0.26 a share, from $14.6 million, or $0.22 a share. Improved operating performance and favourable currency movements pushed up earnings. Winpak’s income tax bill also fell.
The company’s balance sheet is strong. It holds cash of $120.3 million, or $1.85 a share, and has…
Privacy Policy and Terms of Use
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