After already having achieved an outstanding first quarter, Acme United (ACU – $21.69) set a new all-time sales and earnings record in its second quarter, ended June 30, 2016.
Sales for the three months ended June 30, 2016, reached $41.0 million, up 21% compared with sales of $34.0 million in the second quarter of 2015. Net income in the second quarter of 2016 rose by an impressive 21% to $3.3 million, or $0.91 per diluted share, versus $2.7 million, or $0.74 per diluted share, in the comparable quarter last year.
Record back-to-school sales, led by Westcott kid scissors and iPoint pencil sharpeners, were strong contributors to this achievement. Also, Westcott shears gained market share in the office channel and their distribution was broadened in the crafts market. In addition, Clauss, Camillus and Cuda tools performed well in the industrial and sporting goods market. Finally, sales of first aid kits were excellent. All of this led to a notable organic sales growth of 17% for the second quarter, and 13% for the year to date. [click to continue…]
In less than a month, EnWave Corp (TSXV:ENW – $1.15 CAD & OTC:NWVCF – $0.89 USD) closed two additional commercial royalty-bearing agreements.
In June, it signed a deal with Merom Farms to produce wasabi-based products. And this week EnWave granted Perdue Foods LLC the exclusive right to use the Company’s Radiant Energy Vacuum (REV) dehydration technology to process pet food and pet treats in the United States and Canada.
In return, Perdue, a leading food and agricultural products company, has ordered a 10kW REV dryer, which it will receive in the coming weeks. In addition, Perdue will pay EnWave a quarterly royalty on sales of REV produced products. Typically, royalty streams range between [click to continue…]
Tecogen Inc. (TGEN – $5.10), which designs, manufactures and installs industrial and commercial Combined Heat and Power (CHP) systems, ended its second quarter with a record backlog of $14 million. This represents more than 20% growth over the $11.5 million backlog at the end of the prior quarter, and is even up 50% compared with the backlog reported at the same time last year.
Moreover, the backlog does not include service contract revenues, which were more than one third of the Company’s revenues in fiscal year 2015.
All in all, the $14 million mark number is significantly above Tecogen’s goal of delivering quarter-end product backlog greater than $10 million. [click to continue…]
After signing a technology evaluation agreement with a major Australasian dairy company a couple of months ago, EnWave Corp (TSXV:ENW – $1.01 CAD & OTC:NWVCF – $0.77 USD) has now closed a similar deal in the same region with a leading manufacturer of fresh and processed meat products.
The Australasian company will rent a 10kW Radiant Energy Vacuum (REV) dehydration machine from EnWave to conduct product and market tests. According to the agreement, the company has a maximum of 12 months to conclude its R&D. The pilot-scale REV equipment will be delivered later this year.
It wasn’t specifically mentioned in the press release, but the meat processor may have to purchase a large scale commercial REV dryer within 12 months if they wish to commercialize their products and retain their exclusivity for meat products in Australia and New Zealand. [click to continue…]
EuroSite Power Inc. (EUSP – $0.71) has signed an On-Site Utility agreement with the prestigious Celtic Manor Resort, in Newport, UK. The contract is worth approximately US$5.32 (£4.11) million over a 15-year long period.
The 400 KW system is estimated to produce up to 2,174,960 kW of electricity and 2,579,990 kW of heat per year, while saving up to 751 tonnes of carbon dioxide (CO2) – equivalent to taking 159 cars off the road. The CHP system at Celtic Manor will be EuroSite Power’s largest in its history. The Company aims to have the CHP system up and running in the fourth quarter of 2016.
The Company has opted to install two 200 kW TEDOM CHP units, instead of just one 400 kW machine. Two separate units not only fit better in the resort’s machine room, there is also a very good economical reason; Celtic Manor requires much less thermal load during the Summer. So by installing two machines, there is greater flexibility to match [click to continue…]
Milne Fruit Products, Inc, a processor and global supplier for the industrial food ingredient, beverage, and health & wellness markets, has ordered a 120kW Radiant Energy Vacuum (REV) dryer from EnWave (TSXV:ENW – $0.93 CAD & OTC:NWVCF – $0.74 USD) to double its processing capacity of MicroDried fruit and vegetable products.
Milne entered the dried fruits and vegetables market a couple of years ago positioning MicroDried products as pure, healthy alternatives to sugar-infused offerings.
The MicroDried products are all-natural fruit pieces and powders with no added sugars, flavors, colors or preservatives. Consequently, they offer more consumer appeal than most other commercial dried products. In fact, in independent side-by-side sensory comparisons, Milne’s MicroDried products were found to [click to continue…]
There is a key moment in the life cycle of every world-changing product. A moment where a small industry is suddenly mainstream and becomes timeless.
It happened for personal computing in the early 1980s, as the machines went from novelty toys to ubiquitous tools. Thirty years before that, it happened for television. And thirty more years before that, it happened for automobiles.
Today, we’re on the eve of a booming marijuana market, as more and more countries around the world allow the use of the product for medical, recreational and industrial applications.
So far, the cannabis industry has gone through the typical pattern for new gigantic industries. Back in 2014, it experienced the initial bubble where investors were wildly enthusiastic about marijuana being decriminalized. Consequently, tens of millions of investment dollars flooded into the industry, driving valuations of companies sky high. Subsequently, the inevitable decline followed as investors realized everything was not yet rosy, from banking issues, to taxes and legal matters. Now with more States in the US, and plenty of other countries worldwide passing regulations, marijuana is set for its resurgence and definite breakthrough. [click to continue…]