tmrMay 10, 2021 8
Refrigerated counters have been witnessing strong demand globally majorly due to the growing presence of restaurants and food chains around the world. The refrigerated counters market is mostly concentrated in North America and Europe owing to a large number of hotels and catering service providers in these regions. The emergence of new hotels and cafes in response to the ever-growing tourism industry in developing countries is also likely to support the growth of the refrigerated counters market.
The implementation of government regulations to control energy consumption and reduce the use of harmful refrigerants is expected to boost the replacement demand for refrigerated counters among end users in the coming years. Increasing stringency of food safety and quality regulations are also anticipated to support the market.
Standex: Fiscal Q3 Earnings Snapshot
May 6, 2021
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SALEM, N.H. (AP) Standex International Corp. (SXI) on Thursday reported fiscal third-quarter net income of $1.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Salem, New Hampshire-based company said it had profit of 11 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were $1.19 per share.
The equipment manufacturing company posted revenue of $172.2 million in the period.
Standex shares have increased 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $98.70, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SXI at https://www.zacks.com/ap/SXI
Operator
Good day, and welcome to the Standex International Third Quarter Fiscal Year 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Gary Farber with Affinity Growth Advisors. Please go ahead.
Gary Farber
Analyst
Thank you, operator, and good morning. Please note that the presentation accompanying management s remarks can be found on the Investor Relations portion of the company s website at www.standex.com. Please refer to Standex s safe harbor statement on slide two. Matters that Standex management will discuss on today s conference call include predictions, estimates, expectations and other forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially. You should refer to Standex s most recent annual report or Form 10-K as well as other SEC filings and public announcements for a detailed list of risk factors. In addition, I d like to remind you
Technavio Research: Commercial Refrigeration Equipment Market 2020-2024- Featuring AB Electrolux, Ali Group Srl, among others to contribute to the market growth | Industry Analysis, Market Trends, Opportunities, and Forecast 2024
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210106005766/en/
Technavio has announced its latest market research report titled Global Commercial Refrigeration Equipment Market 2020-2024 (Graphic: Business Wire)
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