Standex International Reports FY24 Results
Ticker: SXI · Form: 10-K · Filed: Aug 2, 2024 · CIK: 310354
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Standex FY24: $1.5B revenue, $11.7M net income. Solid liquidity.
AI Summary
Standex International Corp. filed its 10-K for the fiscal year ending June 30, 2024, reporting total assets of $1.50 billion. The company's fiscal year 2024 saw revenues of $1.50 billion, with a net income of $11.76 million. Key financial figures include current assets of $60 million and current liabilities of $27.98 million, indicating a solid liquidity position. The filing also details various financial metrics and operational segments.
Why It Matters
This 10-K filing provides a comprehensive overview of Standex International's financial health and operational performance for the fiscal year 2024, crucial for investors assessing the company's stability and future prospects.
Risk Assessment
Risk Level: medium — The filing presents standard financial reporting for a public company without immediate red flags, suggesting a neutral risk profile based solely on this document.
Key Numbers
- $1.50B — Total Assets (As of June 30, 2024)
- $1.50B — Revenue (For the fiscal year ended June 30, 2024)
- $11.76M — Net Income (For the fiscal year ended June 30, 2024)
- $60.0M — Current Assets (As of June 30, 2024)
- $27.98M — Current Liabilities (As of June 30, 2024)
Key Players & Entities
- Standex International Corp. (company) — Filer of the 10-K report
- June 30, 2024 (date) — Fiscal year end
- $1.50 billion (dollar_amount) — Total assets for FY2024
- $1.50 billion (dollar_amount) — Revenue for FY2024
- $11.76 million (dollar_amount) — Net income for FY2024
- $60 million (dollar_amount) — Current assets
- $27.98 million (dollar_amount) — Current liabilities
FAQ
What were Standex International's total revenues for the fiscal year ended June 30, 2024?
Standex International reported total revenues of $1.50 billion for the fiscal year ended June 30, 2024.
What was the company's net income for the fiscal year ending June 30, 2024?
The net income for Standex International for the fiscal year ended June 30, 2024, was $11.76 million.
What were the total assets of Standex International as of June 30, 2024?
As of June 30, 2024, Standex International's total assets were $1.50 billion.
What were the current liabilities of Standex International as of June 30, 2024?
Standex International reported current liabilities of $27.98 million as of June 30, 2024.
What is Standex International's Standard Industrial Classification (SIC) code?
Standex International's SIC code is 3580, which corresponds to Refrigeration & Service Industry Machinery.
Filing Stats: 4,214 words · 17 min read · ~14 pages · Grade level 16.6 · Accepted 2024-08-02 15:24:17
Key Financial Figures
- $1.50 — ch Registered Common Stock, Par Value $1.50 Per Share SXI New York Stock Exchange
- $158.38 — tock Exchange for December 31, 2023 was $158.38 per share. The number of shares of Re
Filing Documents
- sxi20240630_10k.htm (10-K) — 3057KB
- ex_706251.htm (EX-10.H) — 29KB
- ex_706252.htm (EX-10.I) — 30KB
- ex_673963.htm (EX-21) — 12KB
- ex_673964.htm (EX-23.1) — 3KB
- ex_673965.htm (EX-24) — 20KB
- ex_673966.htm (EX-31.1) — 13KB
- ex_673967.htm (EX-31.2) — 13KB
- ex_673968.htm (EX-32) — 5KB
- dd01.jpg (GRAPHIC) — 3KB
- performancegraph.jpg (GRAPHIC) — 78KB
- 0001437749-24-024465.txt ( ) — 15931KB
- sxi-20240630.xsd (EX-101.SCH) — 117KB
- sxi-20240630_cal.xml (EX-101.CAL) — 95KB
- sxi-20240630_def.xml (EX-101.DEF) — 754KB
- sxi-20240630_lab.xml (EX-101.LAB) — 665KB
- sxi-20240630_pre.xml (EX-101.PRE) — 827KB
- sxi20240630_10k_htm.xml (XML) — 3425KB
Business
Business 3 Item 1A.
Risk Factors
Risk Factors 9 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.
Properties
Properties 16 Item 3.
Legal Proceedings
Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 17 Item 6. [Reserved] 18 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 32 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 72 Item 9A.
Controls and Procedures
Controls and Procedures 72 Item 9B. Other Information 74 PART III Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.
Executive Compensation
Executive Compensation 74 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75 Item 13. Certain Relationships, Related Transactions and Director Independence 75 Item 14. Principal Accountant Fees and Services 75 PART IV Item 15. Exhibits and Financial Statement Schedules 76 2 Table of Contents Forward Looking Statement
Business
Item 1. Business Standex International Corporation and subsidiaries ("we," "us," "our," the "Company" and "Standex" is a diversified industrial manufacturer with leading positions in a variety of products and services that are used in diverse commercial and industrial markets. Headquartered in Salem, New Hampshire, we have six operating segments aggregated into five reportable segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions. Two operating segments are aggregated into Specialty Solutions. Our businesses work in close partnership with our customers to deliver custom solutions or engineered components that solve their unique and specific needs, an approach we call "Customer Intimacy." Standex was incorporated in 1975 and is the successor of a corporation organized in 1955. We have paid dividends each quarter since Standex became a public corporation in November 1964. Overall management, strategic development and financial control are led by the executive staff at our corporate headquarters. Our growth strategy is focused on four key areas: (1) Increasing our presence in rapidly growing markets and applications (2) executing new product development in both core and adjacent market applications; (3) expanding geographically where meaningful business opportunities exist; and (4) undertaking strategically aligned acquisitions that strengthen and/or expand these core businesses. We direct our investments towards markets with long term, secular growth prospects such as renewable energy, electric vehicles, smart power grid, military and defense and life sciences. Unless otherwise noted, references to years are to fiscal years. Currently our fiscal year end is June 30. Our fiscal year 2024 includes the twelve-month period from July 1, 2023 to June 30, 2024. 3 Table of Contents Our long-term business strategy is to create, improve, and enhance shareholder value by building more profitable, focused industrial platforms thr