Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Hamilton Beach Net Income Down Slightly
Aug 11, 2014
 Printable format
 Email this Article
 Search

Hamilton Beach, the small appliances business of NACCO Industries, Inc. (Cleveland, OH), saw its net income decrease to $1.4 million in the second quarter of 2014, from $2.0 million in 2Q 2013.

Hamilton Beach revenues in 2Q 2014 were $118.4 million, from $114.7 million in 2Q 2013.

The moderate revenue increase came from an increase in sales of products with higher price points, mainly in the commercial appliances market and in the United States and Canadian consumer markets.

In the first six months Hamilton Beach's net income was $1.7 million on revenues of $219.7 million, compared to net income of $3.5 million and revenues of $220.8 million in the first six months of 2013.

Hamilton Beach said it saw the overall consumer retail market continue to struggle with consumer traffic at the high-end and middle markets, which was not returning to its expected levels in the second quarter of 2014.

The company said the market conditions were creating uncertainty for the second half of 2014 regarding retail market strength and expectations for consumer activity in the second half of 2014. This concern is particularly strong with the Hamilton Beach target consumer, the middle-market mass consumer. Hamilton Beach sees this customer continuing to struggle with financial and economic concerns.

Hamilton Beach said that, as a result, sales volumes in the middle-market portion of the U.S. small kitchen appliance market in which the appliance maker participates are projected to grow only moderately in the second half.

It expects the Canadian retail market to follow U.S. trends. Other Hamilton Beach international and commercial product markets are expected to grow moderately in the second half.

Te appliance maker expects net income in the second half of 2014 to be comparable to or moderately lower than the second half of 2013.

NACCO's other businesses are gourmet accessories retail chain Kitchen Collection and mining business North American Coal.

NACCO Industries as a whole had a net loss of $3.6 million and revenues of $200.4 million in the second quarter of 2014, compared with net income of $5.1 million and revenues of $196.0 million in the second quarter of 2013.

The company reported a net loss for the six months ended June 30, 2014 of $5.1 million, or $0.66 per diluted share, and revenues of $377.8 million compared with net income of $9.6 million, or $1.16 per diluted share, and revenues of $392.1 million for the first six months of 2013.

Back to Daily News

 

Daily News

...........................................................

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows