Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - TRIMAS CORP | ex991.htm |
| 8-K - 8-K - TRIMAS CORP | form8k_recast.htm |
Exhibit 99.2
TriMas Corporation
Company and Business Segment Financial Information
Continuing Operations
(Unaudited, dollars in thousands)
2015 quarterly periods ended | ||||||||
March 31 | June 30 | |||||||
Packaging | ||||||||
Net sales | $ | 78,960 | $ | 89,580 | ||||
Operating profit | $ | 17,510 | $ | 20,710 | ||||
Special Items to consider in evaluating operating profit: | ||||||||
Severance and business restructuring costs | $ | 150 | $ | 280 | ||||
Excluding Special Items, operating profit would have been | $ | 17,660 | $ | 20,990 | ||||
Aerospace | ||||||||
Net sales | $ | 45,740 | $ | 43,220 | ||||
Operating profit | $ | 8,080 | $ | 7,220 | ||||
Special Items to consider in evaluating operating profit: | ||||||||
Severance and business restructuring costs | $ | 790 | $ | 830 | ||||
Excluding Special Items, operating profit would have been | $ | 8,870 | $ | 8,050 | ||||
Energy | ||||||||
Net sales | $ | 51,160 | $ | 50,150 | ||||
Operating profit (loss) | $ | 340 | $ | (7,170 | ) | |||
Special Items to consider in evaluating operating profit: | ||||||||
Severance and business restructuring costs | $ | 1,430 | $ | 3,910 | ||||
Excluding Special Items, operating profit (loss) would have been | $ | 1,770 | $ | (3,260 | ) | |||
Engineered Components | ||||||||
Net sales | $ | 48,270 | $ | 41,950 | ||||
Operating profit | $ | 5,970 | $ | 6,220 | ||||
Special Items to consider in evaluating operating profit: | ||||||||
Severance and business restructuring costs | $ | 80 | $ | 60 | ||||
Excluding Special Items, operating profit would have been | $ | 6,050 | $ | 6,280 | ||||
Corporate Expenses | ||||||||
Operating loss | $ | (8,880 | ) | $ | (7,770 | ) | ||
Total Continuing Operations | ||||||||
Net sales | $ | 224,130 | $ | 224,900 | ||||
Operating profit | $ | 23,020 | $ | 19,210 | ||||
Total Special Items to consider in evaluating operating profit | $ | 2,450 | $ | 5,080 | ||||
Excluding Special Items, operating profit would have been | $ | 25,470 | $ | 24,290 | ||||
TriMas Corporation
Company and Business Segment Financial Information
Continuing Operations
(Unaudited, dollars in thousands)
2014 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2014 | ||||||||||||||||
Packaging | ||||||||||||||||||||
Net sales | $ | 81,430 | $ | 86,250 | $ | 89,320 | $ | 80,710 | $ | 337,710 | ||||||||||
Operating profit | $ | 18,360 | $ | 20,540 | $ | 20,770 | $ | 18,180 | $ | 77,850 | ||||||||||
Special Items to consider in evaluating operating profit: | ||||||||||||||||||||
Severance and business restructuring costs | $ | — | $ | — | $ | 620 | $ | 2,220 | $ | 2,840 | ||||||||||
Excluding Special Items, operating profit would have been | $ | 18,360 | $ | 20,540 | $ | 21,390 | $ | 20,400 | $ | 80,690 | ||||||||||
Aerospace | ||||||||||||||||||||
Net sales | $ | 27,190 | $ | 31,820 | $ | 27,410 | $ | 35,090 | $ | 121,510 | ||||||||||
Operating profit | $ | 4,860 | $ | 5,660 | $ | 3,870 | $ | 3,440 | $ | 17,830 | ||||||||||
Special Items to consider in evaluating operating profit: | ||||||||||||||||||||
Severance and business restructuring costs | $ | — | $ | — | $ | — | $ | 620 | $ | 620 | ||||||||||
Excluding Special Items, operating profit would have been | $ | 4,860 | $ | 5,660 | $ | 3,870 | $ | 4,060 | $ | 18,450 | ||||||||||
Energy | ||||||||||||||||||||
Net sales | $ | 52,780 | $ | 52,320 | $ | 50,290 | $ | 51,330 | $ | 206,720 | ||||||||||
Operating profit (loss) | $ | 2,600 | $ | (630 | ) | $ | (1,100 | ) | $ | (7,530 | ) | $ | (6,660 | ) | ||||||
Special Items to consider in evaluating operating profit: | ||||||||||||||||||||
Severance and business restructuring costs | $ | — | $ | 2,350 | $ | 2,080 | $ | 7,460 | $ | 11,890 | ||||||||||
Release of historical translation adjustments related to the closure of Brazilian manufacturing facility | $ | — | $ | — | $ | — | $ | 1,270 | $ | 1,270 | ||||||||||
Excluding Special Items, operating profit would have been | $ | 2,600 | $ | 1,720 | $ | 980 | $ | 1,200 | $ | 6,500 | ||||||||||
Engineered Components | ||||||||||||||||||||
Net sales | $ | 55,430 | $ | 54,320 | $ | 55,310 | $ | 56,300 | $ | 221,360 | ||||||||||
Operating profit | $ | 7,880 | $ | 8,950 | $ | 8,090 | $ | 9,160 | $ | 34,080 | ||||||||||
Corporate Expenses | ||||||||||||||||||||
Operating loss | $ | (9,590 | ) | $ | (9,150 | ) | $ | (11,110 | ) | $ | (6,600 | ) | $ | (36,450 | ) | |||||
Total Continuing Operations | ||||||||||||||||||||
Net sales | $ | 216,830 | $ | 224,710 | $ | 222,330 | $ | 223,430 | $ | 887,300 | ||||||||||
Operating profit | $ | 24,110 | $ | 25,370 | $ | 20,520 | $ | 16,650 | $ | 86,650 | ||||||||||
Total Special Items to consider in evaluating operating profit | $ | — | $ | 2,350 | $ | 2,700 | $ | 11,570 | $ | 16,620 | ||||||||||
Excluding Special Items, operating profit would have been | $ | 24,110 | $ | 27,720 | $ | 23,220 | $ | 28,220 | $ | 103,270 | ||||||||||
TriMas Corporation
Company and Business Segment Financial Information
Continuing Operations
(Unaudited, dollars in thousands)
2013 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2013 | ||||||||||||||||
Packaging | ||||||||||||||||||||
Net sales | $ | 74,350 | $ | 78,640 | $ | 82,010 | $ | 78,220 | $ | 313,220 | ||||||||||
Operating profit | $ | 14,630 | $ | 19,600 | $ | 31,320 | $ | 18,220 | $ | 83,770 | ||||||||||
Special Items to consider in evaluating operating profit: | ||||||||||||||||||||
Release of historical translation adjustments related to the sale of Italian business | $ | — | $ | — | $ | (7,910 | ) | $ | — | $ | (7,910 | ) | ||||||||
Excluding Special Items, operating profit would have been | $ | 14,630 | $ | 19,600 | $ | 23,410 | $ | 18,220 | $ | 75,860 | ||||||||||
Aerospace | ||||||||||||||||||||
Net sales | $ | 18,950 | $ | 23,450 | $ | 25,830 | $ | 27,300 | $ | 95,530 | ||||||||||
Operating profit | $ | 3,650 | $ | 5,810 | $ | 6,350 | $ | 7,020 | $ | 22,830 | ||||||||||
Energy | ||||||||||||||||||||
Net sales | $ | 54,920 | $ | 58,820 | $ | 47,680 | $ | 44,160 | $ | 205,580 | ||||||||||
Operating profit (loss) | $ | 5,870 | $ | 5,210 | $ | 1,450 | $ | (3,910 | ) | $ | 8,620 | |||||||||
Engineered Components | ||||||||||||||||||||
Net sales | $ | 46,270 | $ | 50,020 | $ | 47,540 | $ | 41,540 | $ | 185,370 | ||||||||||
Operating profit | $ | 5,700 | $ | 5,890 | $ | 2,860 | $ | 5,000 | $ | 19,450 | ||||||||||
Corporate Expenses | ||||||||||||||||||||
Operating loss | $ | (10,070 | ) | $ | (10,000 | ) | $ | (9,410 | ) | $ | (7,980 | ) | $ | (37,460 | ) | |||||
Total Continuing Operations | ||||||||||||||||||||
Net sales | $ | 194,490 | $ | 210,930 | $ | 203,060 | $ | 191,220 | $ | 799,700 | ||||||||||
Operating profit | $ | 19,780 | $ | 26,510 | $ | 32,570 | $ | 18,350 | $ | 97,210 | ||||||||||
Total Special Items to consider in evaluating operating profit | $ | — | $ | — | $ | (7,910 | ) | $ | — | $ | (7,910 | ) | ||||||||
Excluding Special Items, operating profit would have been | $ | 19,780 | $ | 26,510 | $ | 24,660 | $ | 18,350 | $ | 89,300 | ||||||||||
TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
(Unaudited, dollars in thousands, except per share amounts)
2015 quarterly periods ended | ||||||||
March 31 | June 30 | |||||||
Income from continuing operations, as reported | $ | 11,940 | $ | 8,490 | ||||
After-tax impact of Special Items to consider in evaluating quality of income from continuing operations: | ||||||||
Severance and business restructuring costs | 1,900 | 4,030 | ||||||
Debt extinguishment costs | — | 1,240 | ||||||
Excluding Special Items, income from continuing operations would have been | $ | 13,840 | $ | 13,760 | ||||
2015 quarterly periods ended | ||||||||
March 31 | June 30 | |||||||
Diluted earnings per share from continuing operations, as reported | $ | 0.26 | $ | 0.19 | ||||
After-tax impact of Special Items to consider in evaluating quality of EPS from continuing operations: | ||||||||
Severance and business restructuring costs | 0.05 | 0.08 | ||||||
Debt extinguishment costs | — | 0.03 | ||||||
Excluding Special Items, EPS from continuing operations would have been | $ | 0.31 | $ | 0.30 | ||||
Weighted-average shares outstanding | 45,400,843 | 45,418,907 | ||||||
TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
(Unaudited, dollars in thousands, except per share amounts)
2014 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2014 | ||||||||||||||||
Income from continuing operations, as reported | $ | 13,690 | $ | 14,440 | $ | 11,090 | $ | 7,670 | $ | 46,890 | ||||||||||
Less: Net income attributable to noncontrolling interests | 810 | — | — | — | 810 | |||||||||||||||
Income from continuing operations attributable to TriMas Corporation | 12,880 | 14,440 | 11,090 | 7,670 | 46,080 | |||||||||||||||
After-tax impact of Special Items to consider in evaluating quality of income from continuing operations: | ||||||||||||||||||||
Release of historical translation adjustments related to the closure of Brazilian manufacturing facility | — | — | — | 1,270 | 1,270 | |||||||||||||||
Severance and business restructuring costs | — | 2,270 | 2,530 | 9,180 | 13,980 | |||||||||||||||
Debt financing and extinguishment costs | — | — | — | 2,120 | 2,120 | |||||||||||||||
Excluding Special Items, income from continuing operations attributable to TriMas Corporation would have been | $ | 12,880 | $ | 16,710 | $ | 13,620 | $ | 20,240 | $ | 63,450 | ||||||||||
2014 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2014 | ||||||||||||||||
Diluted earnings per share from continuing operations attributable to TriMas Corporation, as reported | $ | 0.29 | $ | 0.32 | $ | 0.24 | $ | 0.17 | $ | 1.02 | ||||||||||
After-tax impact of Special Items to consider in evaluating quality of EPS from continuing operations: | ||||||||||||||||||||
Release of historical translation adjustments related to the closure of Brazilian manufacturing facility | — | — | — | 0.03 | 0.03 | |||||||||||||||
Severance and business restructuring costs | — | 0.05 | 0.05 | 0.20 | 0.31 | |||||||||||||||
Debt financing and extinguishment costs | — | — | — | 0.04 | 0.04 | |||||||||||||||
Excluding Special Items, EPS from continuing operations would have been | $ | 0.29 | $ | 0.37 | $ | 0.29 | $ | 0.44 | $ | 1.40 | ||||||||||
Weighted-average shares outstanding | 45,186,114 | 45,230,862 | 45,276,199 | 45,384,460 | 45,269,409 | |||||||||||||||
TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures
(Unaudited, dollars in thousands, except per share amounts)
2013 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2013 | ||||||||||||||||
Income from continuing operations, as reported | $ | 11,810 | $ | 16,490 | $ | 24,710 | $ | 6,230 | $ | 59,240 | ||||||||||
Less: Net income attributable to noncontrolling interests | 860 | 910 | 1,320 | 1,430 | 4,520 | |||||||||||||||
Income from continuing operations attributable to TriMas Corporation | 10,950 | 15,580 | 23,390 | 4,800 | 54,720 | |||||||||||||||
After-tax impact of Special Items to consider in evaluating quality of income from continuing operations: | ||||||||||||||||||||
Release of historical translation adjustments related to the sale of Italian business | — | — | (7,910 | ) | — | (7,910 | ) | |||||||||||||
Debt financing and extinguishment costs | — | — | — | 1,530 | 1,530 | |||||||||||||||
Tax restructuring | — | — | 2,200 | — | 2,200 | |||||||||||||||
Excluding Special Items, income from continuing operations attributable to TriMas Corporation would have been | $ | 10,950 | $ | 15,580 | $ | 17,680 | $ | 6,330 | $ | 50,540 | ||||||||||
2013 quarterly periods ended | ||||||||||||||||||||
March 31 | June 30 | September 30 | December 31 | Year ended December 31, 2013 | ||||||||||||||||
Diluted earnings per share from continuing operations attributable to TriMas Corporation, as reported | $ | 0.27 | $ | 0.39 | $ | 0.57 | $ | 0.10 | $ | 1.32 | ||||||||||
After-tax impact of Special Items to consider in evaluating quality of EPS from continuing operations: | ||||||||||||||||||||
Release of historical translation adjustments related to the sale of Italian business | — | — | (0.19 | ) | — | (0.19 | ) | |||||||||||||
Debt financing and extinguishment costs | — | — | — | 0.03 | 0.04 | |||||||||||||||
Tax restructuring | — | — | 0.05 | — | 0.05 | |||||||||||||||
Excluding Special Items, EPS from continuing operations would have been | $ | 0.27 | $ | 0.39 | $ | 0.43 | $ | 0.13 | $ | 1.22 | ||||||||||
Weighted-average shares outstanding | 39,790,524 | 39,886,593 | 40,746,503 | 45,159,205 | 41,395,706 | |||||||||||||||