Magnetek, Inc. 10-K Annual Report March 2013


•	Q4 net sales of $29.7 million increased slightly over the prior year quarter, but were higher 11% sequentially over Q3 fiscal 2012 sales, due to higher sales of material handling solutions.


•	Q4 adjusted EBITDA (see attached reconciliation) increased to $4.7 million, or 15.8% of sales, from $4.4 million, or 14.9% of sales, for the same period last year.


•	Cash balances increased by $1.6 million during the fourth quarter to nearly $29 million as of December 30, 2012.

Fiscal Year 2012 Highlights


•	FY 2012 sales totaled $114.3 million, a decrease of 3% from the same period last year, as sales declines in renewable energy markets were largely offset by increased sales in material handling markets.


•	Adjusted EBITDA (see attached reconciliation) increased to $17.9 million, or 15.7% of sales, from $15.5 million, or 13.2% of sales, for the same period last year.


•	Full year cash flow prior to pension contributions was $19.7 million in fiscal 2012.

Menomonee Falls, Wis., March 13, 2012 -- Magnetek, Inc. (“Magnetek” or “the Company”, NASDAQ: MAG) today reported the results of its fourth quarter and 2012 fiscal year, ended December 30, 2012.

Fourth Quarter Results

In the fourth quarter of fiscal 2012, Magnetek recorded revenue of $29.7 million, a nominal increase from the same period last year, but a sequential increase of 11% from the third quarter of fiscal 2012. The increase in sales from the prior year quarter reflects sales growth of products for material handling applications, largely offset by lower sales of products with mining and renewable energy applications.

Current year fourth quarter operating income was impacted by non-cash impairment charges of $1.2 million related to the Company's renewable energy fixed assets, as well as higher pension expense. However, the Company's continuing operations remained firmly profitable, with after-tax income of $0.8 million, or $.25 on a per share basis.

The following information was filed by Magnetek, Inc. on Wednesday, March 13, 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Magnetek, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

CIK: 751085
Form Type: 10-K Annual Report
Accession Number: 0000751085-13-000017
Submitted to the SEC: Fri Mar 22 2013 4:38:20 PM EST
Accepted by the SEC: Fri Mar 22 2013
Period: Sunday, December 30, 2012
Industry: Electronic Components