Harsco Discusses Tax Rate and 3 Stocks that Have Hit 52-Week Highs
Altra Holdings (NASDAQ:AIMC): Closing price $24.98
Altra estimates its fiscal year 2013 revenue at between $740 million and $750 million with consensus at $737.48 million. The firm said, “Looking ahead, while we do not expect substantial end market growth in 2013, we plan to significantly enhance our bottom line performance due to a number of strategic actions. In addition to the cost savings and productivity improvement initiatives we completed in 2012, we expect that new products and programs that we have been developing should contribute to our performance in the coming year.” Shares closed down 0.36 percent on the day at $24.98 and have been traded in a 52-week range of $14.55 to $25.44.
Aviat Networks (NASDAQ:AVNW): Closing price $3.73
Aviat said that it received orders worth in excess of $10 million for a combination of microwave backhaul equipment and services in support of the public safety network of one of the biggest city municipalities in the United States. Shares closed up 1.36 percent on the day at $3.73 and have been traded in a 52-week range of $2.03 to $3.89.
B&G Foods Holdings (NYSE:BGS): Closing price $32.24
B&G Foods estimates its fiscal year 2013 capital expenditures at around $13 million and cash interest expense at roughly $35 million. Shares closed up 0.03 percent on the day at $32.24, having been traded in a 52-week range of $20.99 to $32.84.
Harsco Corporation (NYSE:HSC): Closing price $24.71
Harsco projects its effective income tax rate to approximate 30 percent for both the first quarter and its fiscal 2013. This modest increase over historical levels is because of losses from operations in certain jurisdictions where tax benefits will not be able to be recognized and the geographic mix of income. In the future, there could be some variability in the reported GAAP tax rate from quarter to quarter, depending on the actual geographic mix of earnings. Shares closed down 4.3 percent on the day at $24.71 and have been traded in a 52-week range of $18.40 to $26.02.
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