Last10K.com

Accellent Inc (1342505) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Accellent Inc

CIK: 1342505


Exhibit 99.1




Investor Contact: Jeremy Friedman
Executive Vice President and Chief Financial Officer
(978) 570-6900
jeremy.friedman@accellent.com

FOR IMMEDIATE RELEASE

Accellent Inc. Announces Fourth Quarter 2012 Results

Wilmington, MA (March 27, 2013) - Accellent Inc. (the “Company” or “Accellent”), a wholly owned subsidiary of Accellent Holdings Corp., today announced results for its fiscal fourth quarter ended December 31, 2012.

Fourth Quarter 2012 Financial Results

Net sales were $122.1 million in the fourth quarter of 2012 compared with $120.8 million in the fourth quarter of 2011. Income from continuing operations was $11.2 million in the fourth quarter of 2012, compared with $13.7 million in the fourth quarter of 2011. Net loss was $3.3 million in the fourth quarter of 2012 compared to $3.4 million in the fourth quarter of 2011.

Adjusted EBITDA in the fourth quarter of 2012 was $22.0 million, or 18.0% of net sales, compared to Adjusted EBITDA of $23.1 million, or 19.1% of net sales, in the fourth quarter of 2011.

“Although the challenging market conditions continued and we saw only slight growth in the fourth quarter of 2012, we remained focused on improving the fundamentals of the business,” stated Donald Spence, President and CEO of Accellent. “With improved working capital management and the divestiture of non-strategic sites, we ended 2012 with a record cash balance of nearly $60 million. I am optimistic that our actions will continue to generate positive results.”

Twelve Months Ended December 31, 2012 Financial Results

Net sales decreased 1.3% to $498.6 million in the twelve months of 2012 compared with $505.4 million in the twelve months of 2011. Income from continuing operations was $51.0 million in the twelve months of 2012 compared with $58.1 million in the twelve months of 2011. Net loss was $22.4 million in the twelve months of 2012 compared with a net loss of $14.9 million in the twelve months of 2011.

Adjusted EBITDA for the twelve months of 2012 was $98.7 million, or 19.8% of net sales compared to Adjusted EBITDA of $100.2 million, or 19.8% of net sales in the twelve months of 2011.

Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the financial information accompanying this press release.

The financial information included in this press release reflect results from continuing operations for all periods presented and assets to be held and used. Results of discontinued operations and assets held for sale are presented separately for all periods presented.




The following information was filed by Accellent Inc on Wednesday, March 27, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Accellent Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Accellent Inc.

Continue

Assess how Accellent Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Accellent Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts - Allowance And Reserve Rollforward (detail)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholder’s Equity
Capital Stock
Capital Stock - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Future Minimum Rental Commitments (detail)
Discontinued Operations And Divestitures
Discontinued Operations And Divestitures (tables)
Discontinued Operations And Divestitures - Additional Information (details)
Discontinued Operations And Divestitures - Assets And Liabilities Of Discontinued Operations (details)
Discontinued Operations And Divestitures - Income (loss) From Discontinued Operations (details)
Discontinued Operations And Divestitures - Pre-tax Operating Results From Discontinued Operations (details)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Additional Information (detail)
Employee Benefit Plans - Assumptions For Benefit Obligations (detail)
Employee Benefit Plans - Assumptions For Net Periodic Benefit Costs (detail)
Employee Benefit Plans - Change In Domestic Plan Assets (detail)
Employee Benefit Plans - Change In Projected Benefit Obligation (detail)
Employee Benefit Plans - Components Of Net Periodic Benefit Cost (detail)
Employee Benefit Plans - Domestic Plan Target Asset Allocation (detail)
Employee Benefit Plans - Estimated Annual Future Benefit Payments (detail)
Employee Benefit Plans - Fair Value Of Domestic Plan's Assets By Asset Class (detail)
Employee Benefit Plans - Reconciliation Of Accrued Benefit Costs (detail)
Employee Benefit Plans - Schedule Of Change In Projected Benefit Obligation Recognized In Aoci (detail)
Environmental Matters
Environmental Matters - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Fair Value Measurements - Summary Of Financial Assets And Liabilities Recorded At Fair Value (detail)
Geographic Information
Geographic Information (tables)
Geographic Information - Net Sales And Long-lived Assets (detail)
Geographic Information - Sale Concentration (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Intangible Assets (detail)
Goodwill And Other Intangible Assets - Schedule Of Goodwill (detail)
Goodwill And Other Intangible Assets - Weighted-average Amortization Periods (detail)
Income Taxes
Income Taxes - Additional Information (detail)
Income Taxes - Deferred Tax Assets And Liabilities (detail)
Income Taxes - Income Tax Reconciliation (detail)
Income Taxes - Provision For Income Taxes (detail)
Income Taxes - Unrecognized Tax Benefit Rollforward (detail)
Income Taxes Income Taxes (tables)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Schedule Of Inventories (detail)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Additional Information (detail)
Long-term Debt - Annual Minimum Principal Payments (detail)
Long-term Debt - Long-term Debt (phantom) (detail)
Long-term Debt - Schedule Of Long-term Debt (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Restructuring Charges
Restructuring Charges (tables)
Restructuring Charges - Additional Information (detail)
Restructuring Charges - Schedule Of Restructuring Activities (detail)
Stock Award Plans
Stock Award Plans (tables)
Stock Award Plans - Activity Relating To Roll-over Options During Period (detail)
Stock Award Plans - Additional Information (detail)
Stock Award Plans - Assumptions To Determine Fair Value Of Roll-over Options (detail)
Stock Award Plans - Assumptions To Determine Fair Value Of Time-based And Performance-based Options (detail)
Stock Award Plans - Classification Of Stock-based Compensation (detail)
Stock Award Plans - Restricted Stock Activity (detail)
Stock Award Plans - Stock-based Compensation By Type Of Award (detail)
Stock Award Plans - Time-based And Performance-based Option Activity (detail)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Accumulated Other Comprehensive Income (detail)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Deferred Financing Costs And Other Costs (detail)
Summary Of Significant Accounting Policies - Major Customers And Concentration Of Credit (detail)
Summary Of Significant Accounting Policies - Other Intangible Assets (detail)
Summary Of Significant Accounting Policies - Other Liabilities (detail)
Summary Of Significant Accounting Policies - Property, Plant, And Equipment (detail)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (tables)
Supplemental Guarantor Financial Information - Condensed Consolidating Balance Sheet Information (detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Operations Information (detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statements Of Cash Flows (detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statements Of Comprehensive Income (loss) (detail)
CIK: 1342505
Form Type: 10-K Annual Report
Accession Number: 0001445305-13-000763
Submitted to the SEC: Mon Apr 01 2013 5:23:01 PM EST
Accepted by the SEC: Mon Apr 01 2013
Period: Monday, December 31, 2012
Industry: Surgical And Medical Instruments And Apparatus

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1342505/0001445305-13-000763.htm