Last10K.com

Amcol International Corp (ACO) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

SEC Filings

Amcol International Corp

CIK: 813621 Ticker: ACO
 


Exhibit 99.1
 
 
For further information, contact:  Don Pearson 
  Senior Vice President & Chief Financial Officer 
  847.851.1500 

 
AMCOL INTERNATIONAL CORPORATION (NYSE:ACO)
REPORTS FOURTH QUARTER RESULTS

HOFFMAN ESTATES, IL, January 24, 2014

For the fourth quarter of 2013, AMCOL International Corporation (NYSE:ACO) reported $0.72 of diluted earnings per share attributable to AMCOL shareholders as compared to $0.34 per share in the prior year’s period.  The current quarter includes special items netting to a $0.27 per share gain recognized during the quarter.  Excluding special items, diluted earnings are $0.45 per share.  As discussed later herein, these items include a $0.35 per share gain on the sale of our investment in Ashapura Minechem Limited (AML), unusual expenses of $0.05 per share, and $0.03 per share of income tax expense related to effect of the impairment previously recognized in South Africa on our annual tax expense.  In addition, we estimate that the severe, adverse weather conditions in the 2013 fourth quarter depressed earnings by $0.05 per share.

Net sales increased $22.9 million, or 9.7%, to $258.5 million in the 2013 fourth quarter.  These sales were gained at margins comparative to the prior year’s quarter, yielding an increase in gross profit of $5.6 million, or 9.2%.  As selling, general and administrative expenses remained relatively constant as a percent of sales, operating profit increased $2.2 million, or 12.2%, while operating profit margin remained fairly constant.  Excluding the special items mentioned above, operating profit margin would have been 8.9% as compared to 7.6% in the prior year’s quarter.

The 21.4% effective tax rate for the 2013 fourth quarter is significantly affected by the AML share sale.  Excluding this transaction and the effect of the South African impairment, our effective tax rate for the fourth quarter of 2013 was 25.6% as compared to 27.5% in the prior year’s period.  The difference is largely due to increased benefit of depletion deductions on the effective tax rate.

 “We are very pleased to have ended 2013 on a strong note with record fourth quarter sales of $258.5 million.  We also achieved a milestone for the company as annual sales topped $1 billion for the first time ever,” said AMCOL President and CEO Ryan McKendrick.

“Our performance materials segment experienced nice growth on both the top and bottom lines with operating profit increasing 17.6%.  The outlook for our flagship metalcasting products looks positive as our customers serving the auto industry anticipate steady demand in our core US and China markets.  Demand continues to be strong for our pet products as we increase volumes to existing customers as well as gain new packaged product customers.  Within basic minerals, all product lines experienced sales growth, especially due to demand for non-foundry chromite and bulk bentonite product,” McKendrick said.
 
 
 

 

“In construction technologies, our restructuring and operational streamlining activities are really starting to pay off as operating profit nearly tripled and sales saw a healthy 12.8% increase in what is seasonally one of our lower quarters.  However, performance was less than expected as it was hampered by severe weather, which pushed $3.8 million of revenue into 2014.  Lining technologies led the revenue increase as we continue to win large mining and industrial bids.  Our drilling product revenues also increased due to demand related to infrastructure projects,” McKendrick continued.

“Our energy services segment increased their revenues slightly, but operating profits decreased $2.6 million.  The decrease largely stems from increased SG&A expenses – especially a $1.6 million bad debt in the quarter.  The weather adversely affected energy services’ results as well, delaying 17 projects worth $4.7 million in Texas and the Gulf of Mexico,” McKendrick added.


DETAILED ANALYSIS OF RESULTS

The following paragraphs discuss our most recent results.  The statement of operations highlights are supported by the quarterly segment results schedules included in this press release.  As they relate to our results as contained in the statement of operations, the following comments relate to our results for the current quarter as compared to the same quarter in the prior year, unless otherwise noted.  As they relate to the balance sheet, the following paragraphs highlight our financial condition as of December 31, 2013 as compared to December 31, 2012.  As they relate to our statement of cash flows, the following comments compare our results for the year ended December 31, 2013 as compared to the prior year.

As mentioned previously, our operating profit was negatively affected by certain unusual items within the segments as follows:

 
Performance
Materials
Energy
Services
Corporate
Total
Q4 operating profit reduction - $ million
$0.3
$2.1
$0.3
$2.7
Q4 estimated EPS reduction - $ / share
$0.01
$0.04
$0.01
$0.05


The expense in our performance materials segment relates to inventory write offs for discontinued products.  The expense in our energy services segment is primarily from a large bad debt expense of $1.6 million.  The $0.3 million in corporate relates to increased professional fees associated with the impairment of our South African operations.
 
 
 

 
 
On a segment basis, revenues in our performance materials segment increased $14.2 million, or 12.8%, largely due to improved volumes.  Although basic minerals revenues led the overall increase due to strong demand for bulk product, non-foundry grade chromite and drilling fluid additives, our core metalcasting and pet products continue to be in strong demand.  These increased volumes helped increase gross profit and operating profit margin.

Construction technologies segment revenues also increased 12.8%, or $6.4 million, due to increased demand for lining technology and drilling products.  Gross profit margins decreased largely due to product mix.  Our restructuring efforts are also beginning to show results in SG&A, which decreased $1.3 million and were a large contributor to the $2.4 million increase in operating profit and the 400 basis point improvement in operating profit margin.

Revenues in our energy services segment increased $1.1 million, or 1.5%.  Revenues increased $2.4 million domestically and decreased $1.3 million internationally.  Our domestic filtration and nitrogen service revenues increased nicely whereas we experienced decreased revenues in coil tubing and well testing services.  While activity in the Gulf of Mexico continues to increase for our filtration services, we estimate that the segment in total would have had $4.7 million more revenue if adverse weather conditions had not occurred, especially in our land based services.  SG&A expenses increased $2.9 million, largely due to a $1.6 bad debt expense.

Our cash flows from operating activities decreased $8.8 million to $99.9 million, the largest contributing factor of which is an increase in working capital to support the growth in revenues.  For example, whereas receivables decreased $1.7 million in 2012, they increased $11.9 million in 2013.  Investments in equipment for energy services and software within our corporate segment account for the entire increase in capital expenditures as most other segments experienced a decrease.  We invested $5.0 million in Novinda in the first quarter of 2013, and we divested of our investment in Ashapura Minechem Limited in the fourth quarter of 2013, yielding a $13.9 million cash inflow.  The combination of these factors resulted in debt levels staying relatively the same as compared to the prior year end.  We declared quarterly dividends of $0.20 per share in the fourth quarters of 2013 and 2012.

This release should be read in conjunction with the attached unaudited, condensed, consolidated financial statements. It contains certain forward-looking statements regarding AMCOL's expected performance for future periods and actual results for such periods might materially differ. Such forward-looking statements are subject to uncertainties, which include, but are not limited to, actual growth in AMCOL's various markets, utilization of AMCOL's plants, currency exchange rates, currency devaluation, delays in development, production and marketing of new products, integration of acquired businesses, and other factors detailed from time to time in AMCOL's annual report and other reports filed with the Securities and Exchange Commission. AMCOL undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in AMCOL's expectations.

Founded in 1927, AMCOL International Corporation is a leading producer and marketer of diverse specialty materials with a core expertise in minerals and polymer science. Through four business segments, Performance Materials, Construction Technologies, Energy Services, and Transportation and Logistics, AMCOL creates solutions that enhance the quality, efficiency and sustainability of its customers’ products and services in a growing global marketplace. Headquartered in Hoffman Estates, Illinois, AMCOL International Corporation is a publicly owned company traded under the symbol ACO (NYSE). AMCOL's web address is www.amcol.com.  AMCOL’s quarterly quarter conference call will be available live today at 11 a.m. ET on the AMCOL website via webcast or by dialing 866-226-1792.

Financial tables follow.
 
 
 

 
 
AMCOL INTERNATIONAL CORPORATION
 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 
(unaudited)
 
(In Millions, Except per Share Data)
 
                         
   
Twelve Months Ended
   
Three Months Ended
 
 
December 31,
   
December 31,
 
 
2013
   
2012
   
2013
   
2012
 
                         
Continuing Operations
                       
Net sales
  $ 1,013.7     $ 967.4     $ 258.5     $ 235.6  
Cost of sales
    797.1       701.9       192.1       174.8  
Gross profit
    216.6       265.5       66.4       60.8  
Selling, general and administrative expenses
    179.8       167.7       46.2       42.8  
Operating profit
    36.8       97.8       20.2       18.0  
Other income (expense):
                               
Interest expense, net
    (10.2 )     (10.4 )     (2.6 )     (2.4 )
Gain on sale of securities available-for-sale
    12.6       -       12.6       -  
Other, net
    (2.8 )     (3.4 )     (0.8 )     (0.7 )
      (0.4 )     (13.8 )     9.2       (3.1 )
Income before income taxes and income from affiliates and joint ventures
    36.4       84.0       29.4       14.9  
Income tax expense
    11.3       23.3       6.3       4.1  
 
Income before income from affiliates and joint ventures
    25.1       60.7       23.1       10.8  
Income from affiliates and joint ventures
    3.2       3.9       0.7       0.5  
                                 
 
Income (loss) from continuing operations
    28.3       64.6       23.8       11.3  
                                 
Discontinued Operations
                               
Income (loss) on discontinued operations
    (4.2 )     0.3       (0.2 )     (0.3 )
Net income (loss)
    24.1       64.9       23.6       11.0  
                                 
Net income (loss) attributable to noncontrolling interests
    (6.9 )     (0.2 )     (0.1 )     -  
                                 
Net income (loss) attributable to AMCOL shareholders
  $ 31.0     $ 65.1     $ 23.7     $ 11.0  
                                 
Weighted average common shares outstanding
    32.5       32.1       32.6       32.1  
                                 
Weighted average common and common equivalent shares outstanding
    32.8       32.4       32.9       32.5  
                                 
Earnings (loss) per share attributable to AMCOL shareholders
                               
                                 
Basic earnings (loss) per share:
                               
Continuing operations
  $ 1.08     $ 2.02     $ 0.74     $ 0.35  
Discontinued operations
    (0.13 )     0.01       (0.01 )     (0.01 )
Net income (loss)
  $ 0.95     $ 2.03     $ 0.73     $ 0.34  
                                 
Diluted earnings (loss) per share:
                               
Continuing operations
  $ 1.08     $ 2.00     $ 0.73     $ 0.35  
Discontinued operations
    (0.13 )     0.01       (0.01 )     (0.01 )
Net income (loss)
  $ 0.95     $ 2.01     $ 0.72     $ 0.34  
                                 
Dividends declared per share
  $ 0.80     $ 0.76     $ 0.20     $ 0.20  
 
 
 

 
 
AMCOL INTERNATIONAL CORPORATION
 
CONDENSED CONSOLIDATED BALANCE SHEETS
 
(In Millions)
 
             
             
ASSETS
 
  December 31,    
December 31,
 
  2013    
2012
 
 
(unaudited)
       
Current assets:
           
Cash and equivalents
  $ 47.8     $ 40.0  
Accounts receivable, net
    214.6       202.7  
Inventories
    143.9       153.8  
Prepaid expenses
    20.6       17.0  
Assets held-for-sale
    13.4       0.2  
Income tax receivable
    12.7       7.0  
Deferred income tax
    8.5       7.0  
Other
    0.7       1.8  
Total current assets
    462.2       429.5  
                 
Noncurrent assets:
               
Property, plant, equipment, and mineral rights and reserves:
               
Land
    10.7       13.0  
Mineral rights
    5.0       48.6  
Depreciable assets
    573.2       552.0  
      588.9       613.6  
Less: accumulated depreciation and depletion
    325.3       311.7  
      263.6       301.9  
                 
Goodwill
    68.7       70.2  
Intangible assets, net
    27.9       33.9  
Investments in and advances to affiliates and joint ventures
    34.1       27.8  
Available-for-sale securities
    -       14.6  
Deferred income tax
    27.3       7.4  
Other assets
    28.0       25.3  
Total noncurrent assets
    449.6       481.1  
Total Assets
  $ 911.8     $ 910.6  
LIABILITIES AND SHAREHOLDERS' EQUITY
               
               
Current liabilities:
               
Accounts payable
  $ 52.0     $ 51.1  
Accrued income tax
    9.1       5.0  
Accrued liabilities
    60.8       58.4  
Total current liabilities
    121.9       114.5  
                 
                 
Noncurrent liabilities:
               
Long-term debt
    249.1       248.8  
Pension liabilities
    26.6       37.5  
Deferred income tax
    29.8       12.8  
Deferred compensation
    12.0       9.4  
Other liabilities
    20.3       22.5  
Total noncurrent liabilities
    337.8       331.0  
                 
Common stock
    0.3       0.3  
Additional paid in capital
    117.1       105.1  
Retained earnings
    360.3       355.2  
Accumulated other comprehensive income (loss)
    (21.9 )     0.8  
Total AMCOL shareholders' equity
    455.8       461.4  
                 
Noncontrolling interest
    (3.7 )     3.7  
Total equity
    452.1       465.1  
Total Liabilities and Shareholders' Equity
  $ 911.8     $ 910.6  

 
 

 
 
AMCOL INTERNATIONAL CORPORATION
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
 
(In Millions)
 
             
   
Twelve Months Ended
 
 
December 31,
 
 
2013
   
2012
 
Cash flow from operating activities:
           
Net income
  $ 24.1     $ 64.9  
Adjustments to reconcile net income to net cash
               
provided by (used in) operating activities:
               
Depreciation, depletion, and amortization
    49.7       45.3  
Impairment charge
    59.8       0.9  
Gain on sale of securities
    (12.6 )     -  
Undistributed earnings from affiliates and joint ventures
    (1.5 )     (2.0 )
Decrease (increase) in deferred income taxes
    (8.8 )     (0.8 )
Other non-cash charges
    8.7       10.7  
Changes in assets and liabilities, net of effects of acquisitions:
               
Decrease (increase) in current assets
    (29.9 )     (8.3 )
Decrease (increase) in noncurrent assets
    (3.2 )     (0.4 )
Increase (decrease) in current liabilities
    8.8       (7.8 )
Increase (decrease) in noncurrent liabilities
    4.8       6.2  
Net cash provided by (used in) operating activities
    99.9       108.7  
                 
Cash flow from investing activities:
               
Capital expenditures
    (87.7 )     (74.5 )
Proceeds from sale of securities available for sale
    13.9       -  
Proceeds from sale of land and depreciable assets
    5.2       2.4  
Proceeds from sale of interests in affliates and businesses
    -       2.4  
(Increase) decrease in investments in and advances (to) from affiliates and joint ventures
    (4.8 )     0.2  
Other
    0.9       1.4  
Net cash used in investing activities
    (72.5 )     (68.1 )
Cash flow from financing activities:
               
Net change in outstanding debt
    0.2       (12.3 )
Net proceeds from stock compensation activity
    7.0       9.7  
Dividends paid
    (25.9 )     (23.5 )
Excess tax benefits from stock-based compensation
    0.2       0.4  
Contribution from noncontrolling partner
    0.1       0.1  
Net cash provided by (used in) financing activities
    (18.4 )     (25.6 )
Effect of foreign currency rate changes on cash
    (1.2 )     0.9  
Net increase (decrease) in cash and cash equivalents
    7.8       15.9  
Cash and cash equivalents at beginning of period
    40.0       24.1  
Cash and cash equivalents at end of period
    47.8       40.0  

 
 

 
 
AMCOL INTERNATIONAL CORPORATION
SEGMENT RESULTS (unaudited)
QUARTER-TO-DATE

   
Three Months Ended December 31,
 
Performance Materials
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 125.3       100.0 %   $ 111.1       100.0 %   $ 14.2       12.8 %
Cost of sales
    95.5       76.2 %     85.4       76.9 %     10.1       11.8 %
Gross profit
    29.8       23.8 %     25.7       23.1 %     4.1       16.0 %
Selling, general and
                                               
administrative expenses
    12.4       9.9 %     10.9       9.8 %     1.5       13.8 %
Operating profit
    17.4       13.9 %     14.8       13.3 %     2.6       17.6 %

   
Three Months Ended December 31,
 
Construction Technologies
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 56.5       100.0 %   $ 50.1       100.0 %   $ 6.4       12.8 %
Cost of sales
    40.3       71.3 %     35.0       69.9 %     5.3       15.1 %
Gross profit
    16.2       28.7 %     15.1       30.1 %     1.1       7.3 %
Selling, general and
                                               
administrative expenses
    12.5       22.1 %     13.8       27.5 %     (1.3 )     -9.4 %
Operating profit
    3.7       6.6 %     1.3       2.6 %     2.4       184.6 %

   
Three Months Ended December 31,
 
Energy Services
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 72.9       100.0 %   $ 71.8       100.0 %   $ 1.1       1.5 %
Cost of sales
    53.8       73.8 %     53.0       73.8 %     0.8       1.5 %
Gross profit
    19.1       26.2 %     18.8       26.2 %     0.3       1.6 %
Selling, general and
                                               
administrative expenses
    13.4       18.4 %     10.5       14.6 %     2.9       27.6 %
Operating profit
    5.7       7.8 %     8.3       11.6 %     (2.6 )     -31.3 %

   
Three Months Ended December 31,
 
Transportation
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 11.1       100.0 %   $ 10.5       100.0 %   $ 0.6       5.7 %
Cost of sales
    9.9       89.2 %     9.4       89.5 %     0.5       5.3 %
Gross profit
    1.2       10.8 %     1.1       10.5 %     0.1       9.1 %
Selling, general and
                                               
administrative expenses
    1.0       9.0 %     1.0       9.5 %     -       0.0 %
Operating profit
    0.2       1.8 %     0.1       1.0 %     0.1       100.0 %

   
Three Months Ended December 31,
 
Corporate
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                         
Intersegment sales
  $ (7.3 )   $ (7.9 )   $ 0.6        
Intersegment cost of sales
    (7.4 )     (8.0 )     0.6        
Gross profit (loss)
    0.1       0.1       0.0        
Selling, general and
                             
administrative expenses
    6.9       6.6       0.3       4.5 %
Operating loss
    (6.8 )     (6.5 )     (0.3 )     4.6 %

 
 

 
 
AMCOL INTERNATIONAL CORPORATION
SEGMENT RESULTS (unaudited)
YEAR-TO-DATE
 
   
Twelve Months Ended December 31,
 
Performance Materials
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 488.0       100.0 %   $ 473.7       100.0 %   $ 14.3       3.0 %
Cost of sales
    418.5       85.8 %     352.4       74.4 %     66.1       18.8 %
Gross profit
    69.5       14.2 %     121.3       25.6 %     (51.8 )     -42.7 %
Selling, general and
                                               
administrative expenses
    49.5       10.1 %     45.3       9.6 %     4.2       9.3 %
Operating profit
    20.0       4.1 %     76.0       16.0 %     (56.0 )     -73.7 %
 
   
Twelve Months Ended December 31,
 
Construction Technologies
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 218.1       100.0 %   $ 223.1       100.0 %   $ (5.0 )     -2.2 %
Cost of sales
    149.4       68.5 %     154.6       69.3 %     (5.2 )     -3.4 %
Gross profit
    68.7       31.5 %     68.5       30.7 %     0.2       0.3 %
Selling, general and
                                               
administrative expenses
    54.7       25.1 %     52.9       23.7 %     1.8       3.4 %
Operating profit
    14.0       6.4 %     15.6       7.0 %     (1.6 )     -10.3 %

   
Twelve Months Ended December 31,
 
Energy Services
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 296.5       100.0 %   $ 257.3       100.0 %   $ 39.2       15.2 %
Cost of sales
    223.2       75.3 %     186.2       72.4 %     37.0       19.9 %
Gross profit
    73.3       24.7 %     71.1       27.6 %     2.2       3.1 %
Selling, general and
                                               
administrative expenses
    46.8       15.8 %     42.4       16.5 %     4.4       10.4 %
Operating profit
    26.5       8.9 %     28.7       11.1 %     (2.2 )     -7.7 %

   
Twelve Months Ended December 31,
 
Transportation
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                                     
Net sales
  $ 45.5       100.0 %   $ 44.0       100.0 %   $ 1.5       3.4 %
Cost of sales
    40.6       89.2 %     39.4       89.5 %     1.2       3.0 %
Gross profit
    4.9       10.8 %     4.6       10.5 %     0.3       6.5 %
Selling, general and
                                               
administrative expenses
    3.7       8.1 %     3.8       8.6 %     (0.1 )     -2.6 %
Operating profit
    1.2       2.7 %     0.8       1.9 %     0.4       50.0 %

   
Twelve Months Ended December 31,
 
Corporate
 
2013
   
2012
   
2013 vs. 2012
 
   
(Dollars in Millions)
 
                         
Intersegment sales
  $ (34.4 )   $ (30.7 )   $ (3.7 )      
Intersegment cost of sales
    (34.6 )     (30.7 )     (3.9 )      
Gross profit (loss)
    0.2       -       0.2        
Selling, general and
                             
administrative expenses
    25.1       23.3       1.8       7.7 %
Operating loss
    (24.9 )     (23.3 )     (1.6 )     6.9 %

 
 

 
 
AMCOL INTERNATIONAL CORPORATION
SUPPLEMENTARY INFORMATION (unaudited)
QUARTER-TO-DATE

   
Three Months Ended December 31, 2013
 
  Composition of Sales by Geographic Region
 
Americas
   
EMEA
   
Asia Pacific
   
Total
 
 
Performance materials
    25.1 %     11.1 %     12.3 %     48.5 %
Construction technologies
    6.7 %     9.0 %     6.2 %     21.9 %
Energy services
    23.8 %     2.0 %     2.4 %     28.2 %
Transportation & intersegment sales
    1.4 %     0.0 %     0.0 %     1.4 %
Total - current year's period
    57.0 %     22.1 %     20.9 %     100.0 %
Total from prior year's comparable period
    60.5 %     20.6 %     18.9 %     100.0 %
 
   
Three Months Ended December 31, 2013
 
   
vs.
 
Percentage of Revenue Growth by Component
 
Three Months Ended December 31, 2012
 
       
   
Organic
   
Acquisitions
   
Foreign Exchange
   
Total
 
 
Performance materials
    6.6 %     0.0 %     -0.6 %     6.0 %
Construction technologies
    2.5 %     0.0 %     0.2 %     2.7 %
Energy services
    0.8 %     0.0 %     -0.3 %     0.5 %
Transportation
    0.5 %     0.0 %     0.0 %     0.5 %
Total
    10.4 %     0.0 %     -0.7 %     9.7 %
% of growth
    107.2 %     0.0 %     -7.2 %     100.0 %

   
Three Months Ended December 31,
 
Performance Materials Product Line Sales
 
2013
   
2012
   
% change
 
   
(Dollars in Millions)
 
                   
Metalcasting
  $ 68.8     $ 64.0       7.5 %
Specialty materials
    19.8       21.2       -6.6 %
Pet products
    17.4       12.9       34.9 %
Basic minerals
    18.0       12.2       47.5 %
Other product lines
    1.3       0.8       62.5 %
Total
    125.3       111.1       12.8 %

   
Three Months Ended December 31,
 
Construction Technologies Product Line Sales
 
2013
   
2012
   
% change
 
   
(Dollars in Millions)
 
                   
Lining technologies
  $ 24.9     $ 19.8       25.8 %
Building materials
    18.2       17.7       2.8 %
Drilling products
    9.6       7.6       26.3 %
Contracting services
    3.8       5.0       -24.0 %
Total
    56.5       50.1       12.8 %
 
 
 

 
 
AMCOL INTERNATIONAL CORPORATION
SUPPLEMENTARY INFORMATION (unaudited)
YEAR-TO-DATE
 
   
Twelve Months Ended December 31, 2013
 
  Composition of Sales by Geographic Region
 
Americas
   
EMEA
   
Asia Pacific
   
Total
 
Performance materials
    25.4 %     11.0 %     11.8 %     48.2 %
Construction technologies
    8.2 %     9.5 %     3.8 %     21.5 %
Energy services
    25.0 %     1.8 %     2.4 %     29.2 %
Transportation & intersegment sales
    1.1 %     0.0 %     0.0 %     1.1 %
Total - current year's period
    59.7 %     22.3 %     18.0 %     100.0 %
Total from prior year's comparable period
    60.9 %     22.0 %     17.1 %     100.0 %

   
Twelve Months Ended December 31, 2013
 
   
vs.
 
   
Twelve Months Ended December 31, 2012
 
Percentage of Revenue Growth by Component      
   
Organic
   
Acquisitions
   
Foreign Exchange
   
Total
 
 
Performance materials
    1.8 %     0.0 %     -0.3 %     1.5 %
Construction technologies
    -0.7 %     0.0 %     0.2 %     -0.5 %
Energy services
    4.3 %     0.1 %     -0.3 %     4.1 %
Transportation
    -0.3 %     0.0 %     0.0 %     -0.3 %
Total
    5.1 %     0.1 %     -0.4 %     4.8 %
% of growth
    106.3 %     2.0 %     -8.3 %     100.0 %
 
   
Twelve Months Ended December 31,
 
Performance Materials Product Line Sales
 
2013
   
2012
   
% change
 
   
(Dollars in Millions)
 
                   
Metalcasting
  $ 269.2     $ 265.6       1.4 %
Specialty materials
    84.6       91.2       -7.2 %
Pet products
    61.2       52.9       15.7 %
Basic minerals
    63.9       60.2       6.1 %
Other product lines
    9.1       3.8       139.5 %
Total
    488.0       473.7       3.0 %

   
Twelve Months Ended December 31,
Construction Technologies Product Line Sales
 
2013
   
2012
   
% change
 
   
(Dollars in Millions)
                   
Lining technologies
  $ 92.3     $ 91.8       0.5 %
Building materials
    74.3       75.9       -2.1 %
Drilling products
    41.1       36.6       12.3 %
Contracting services
    10.4       18.8       -44.7 %
Total
    218.1       223.1       -2.2 %
 



The following information was filed by Amcol International Corp (ACO) on Friday, January 24, 2014 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 Amcol International Corp'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 Amcol International Corp.

Continue

Assess how Amcol International Corp's management team is paid from their Annual Proxy

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

Amcol International Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:

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

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (parenthetical)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Balance Sheet Related Information
Balance Sheet Related Information (tables)
Balance Sheet Related Information - Accrued Liabilities (details)
Balance Sheet Related Information - Allowance For Doubtful Accounts (details)
Balance Sheet Related Information - Inventories (details)
Balance Sheet Related Information - Inventory, Raw Materials And Supplies, Net Of Services (details)
Balance Sheet Related Information - Reclamation Liability (details)
Contingencies
Contingencies (details)
Debt
Debt (tables)
Debt - Amounts Of Long-term Debt (details)
Debt - Maturities Of Long-term Debt Outstanding (details)
Debt - Obligations (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities - Changes In Fair Value Of Foreign Contracts (details)
Derivative Instruments And Hedging Activities - Debt Instruments (details)
Derivative Instruments And Hedging Activities - Fair Value Of Derivative Instruments In Balance Sheet (details)
Derivative Instruments And Hedging Activities - Summary Of Cash Flow Hedges (details)
Discontinued Operations
Discontinued Operations (details)
Discontinued Operations (tables)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Amounts Recognized In Other Comprehensive Income And Prior Service Cost (details)
Employee Benefit Plans - Assumptions Used To Determine Net Periodic Benefit Cost (details)
Employee Benefit Plans - Assumptions Used To Determine Pension Obligation (details)
Employee Benefit Plans - Expected Payment Of Future Benefits (details)
Employee Benefit Plans - Fair Value Of Pension Plan Assets (details)
Employee Benefit Plans - Net Periodic Pension Cost (details)
Employee Benefit Plans - Pension Obligation And Funded Status (details)
Employee Benefit Plans - Reconciliation Of Changes In Fair Value Measurement Of Plan Assets (details)
Employee Benefit Plans - Text (details)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Balance Of Goodwill By Segment (details)
Goodwill And Other Intangible Assets - Balance Of Intangible Assets By Segments (details)
Goodwill And Other Intangible Assets - Estimated Amortization Expenses Of Intangible Assets (details)
Goodwill And Other Intangible Assets - Weighted Average Amortization Period (details)
Goodwill And Other Intangible Assets, Impairment Charge (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Activity Related To Unrecognized Tax Benefit (details)
Income Taxes - Components Of Provision For Income Taxes (details)
Income Taxes - Effective Income Tax Rate Reconciliation (details)
Income Taxes - Income From Continuing Operations Before Income Taxes And Income (loss) From Affiliates And Joint Ventures (details)
Income Taxes - Income Tax Expense (benefit), (details)
Income Taxes - Significant Portion Of The Deferred Tax Assets And Liabilities (details)
Income Taxes - Text (details)
Investments In Joint Ventures
Investments In Joint Ventures (tables)
Investments In Joint Ventures - Income Loss From Affiliates And Joint Ventures (details)
Investments In Joint Ventures - Investments In And Advance To Affiliates And Joint Venture (details)
Leases
Leases (tables)
Leases - Future Minimum Lease Payment For Operating Leases (details)
Leases - Lease Rental Payments (details)
Noncontrolling Interest
Noncontrolling Interest (tables)
Noncontrolling Interest - Interest Acquired And Interest Sold (details)
Noncontrolling Interest - Net Income And Transfers From Noncontrolling Interest (details)
Property, Plant, Equipment And Mineral Rights And Reserves
Property, Plant, Equipment And Mineral Rights And Reserves (details)
Property, Plant, Equipment And Mineral Rights And Reserves (tables)
Property, Plant, Equipment And Mineral Rights And Reserves - Depreciation And Depletion Charged To Income (details)
Property, Plant, Equipment And Mineral Rights And Reserves - Useful Lives (details)
Property, Plant, Equipment And Mineral Rights And Reserves, Impairment Charge (details)
Quarterly Results (unaudited)
Quarterly Results (unaudited) (details)
Quarterly Results (unaudited) (tables)
Quarterly Results (unaudited) - Text (details)
Reorganization Charges
Reorganization Charges (details)
Reorganization Charges (tables)
Segment, Geographic, And Market Information
Segment, Geographic, And Market Information (tables)
Segment, Geographic, And Market Information - Financial Information (details)
Segment, Geographic, And Market Information - Net Sales By Product (details)
Segment, Geographic, And Market Information - Sales To Unaffiliated Customers (details)
South Africa Asset Impairment
South Africa Asset Impairment (details)
Stock Compensation Plans
Stock Compensation Plans (tables)
Stock Compensation Plans - Summary Of All Stock Option Plan (details)
Stock Compensation Plans - Summary Of Changes In Options Outstanding (details)
Stock Compensation Plans - Summary Of Fair Value Of Awards Granted (details)
Stock Compensation Plans - Summary Of Nonvested Stock Compensation Awards (details)
Stock Compensation Plans - Summary Of Stock Option Compensation Awards Outstanding And Exercisable (details)
Stock Compensation Plans - Text (details)
Subsequent Event
Subsequent Event (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Consolidation Policies (details)
Summary Of Significant Accounting Policies - Reconciliation Between Basic And Diluted Earnings Per Share (details)
Summary Of Significant Accounting Policies - Revenue By Segment (details)
Ticker: ACO
CIK: 813621
Form Type: 10-K Annual Report
Accession Number: 0001140361-14-010423
Submitted to the SEC: Mon Mar 03 2014 9:36:33 AM EST
Accepted by the SEC: Mon Mar 03 2014
Period: Tuesday, December 31, 2013
Industry: Mining And Quarrying Of Nonmetallic Minerals No Fuels

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/aco/0001140361-14-010423.htm