Friday, November 12, 2010

Middleby Making The Right Kind of Smoke

Given that Middleby (Nasdaq:MIDD) is in the business of making commercial food service equipment, it is generally not good news for words like "smoking" or "on fire" to be attached to the company. Still, the company is making a rather impressive recovery from the worst of the recession and the nadir in restaurant equipment spending. 

A Solid Third Quarter
Middleby reported that revenue rose more than 15% as reported, and nearly 12% on an organic basis. That was basically in line with estimates, though Middleby is not a particularly widely followed stock. Profitability was a bit soft; gross margin dropped about 50 basis points on higher steel costs, and operating income rose 14% despite close to $1 million in expenses tied to severance and reduction programs. 



Please click the link below for the full article:
http://stocks.investopedia.com/stock-analysis/2010/Middleby-Making-The-Right-Kind-Of-Smoke-MIDD-CASY-SONC-DIS-ITW1112.aspx

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