Business
Burnham Holdings, Inc. Announces Year 2012 Financial Results and Announces a Dividend Increase
Burnham Holdings, Inc. Announces Year 2012 Financial Results and Announces a Dividend Increase.
About this update from Burnham Holdings, Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\nBurnham Holdings, Inc. Announces Year 2012 Financial Results and Announces a Dividend Increase\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nBurnham Holdings, Inc. Announces Year 2012 Financial Results and Announces a Dividend Increase\n\nPR Newswire\n\nLANCASTER, Pa., Feb. 20, 2013\n\n\n\n\n\n\n\nLANCASTER, Pa., Feb. 20, 2013 /PRNewswire/ -- Burnham Holdings, Inc., (Pink Sheets: BURCA), the parent company of fourteen subsidiaries that are leading domestic manufacturers of boilers, and related HVAC products and accessories for residential, commercial and industrial applications, today reported its financial results for the year ended December 31, 2012.\n\n\nWe are pleased to report a year of strong financial performance. Earnings for 2012 were $1.83 per share, our highest earnings since the height of the housing boom and a 61.9% increase from 2011. Sales and margins were up for the third straight year. The balance sheet ended the year with almost no debt and high liquidity. We paid common stock dividends of $0.72 per share during 2012, a 5.9% increase over the 2011 rate, which had remained constant at $0.68 per share since 2007. Details of results mentioned in this release are discussed fully in the Company's audited Annual Report, which will be available on or about March 15, 2013.\n\n\nNet sales for 2012 were $204.8 million, up 3.0% from $198.8 million in 2011. The residential portion of the business experienced the third straight year of improvement after the market low in 2009. The decline in the 2009 market was the result of an economic cycle that not only impacted Burnham Holdings but also the entire industry. We feel our growth in the residential business over the last three years has been accomplished through our focus on satisfying the needs of the consumer through the continual introduction of new equipment and controls (including highly efficient, energy saving products), commitment to our long-term distribution channels, and the aggressive pursuit of new opportunities. The commercial portion ...