Recent Updates — HBB

Hamilton Beach Brands Holding Company reported third-quarter revenue of $140.3 million, a 5.6% increase year-over-year, driven by recovery in its U.S. consumer business and strong growth in its Health segment. Gross margin expanded significantly to 27.5%, up from 21.1% in the prior year period, as inventory no longer subject to tariffs sold through at lower costs. Diluted earnings per share rose to $0.26 from $0.12, and operating profit increased 52.6% to $4.4 million. The company paid down $25 million of debt and repurchased shares during the quarter. While full-year revenue guidance was revised to flat growth due to cautious retailer inventory commitments, cash flow expectations were raised to a range of $40 million to $50 million. Hamilton Beach Brands Holding Company is a leading designer, marketer, and distributor of small electric household appliances and commercial products.

Andrew C. Carington departed Hamilton Beach Brands Holding Company on June 18, 2006, ceasing his service as Senior Vice President, General Counsel and Secretary. Hamilton Beach Brands Holding Co is a consumer electronics and small appliances manufacturer.