Standex Issues Q3 Guidance

(RTTNews) - Standex International Corp. (SXI) said, in the third quarter, the company expects total revenue to increase slightly sequentially but be similar to the third fiscal quarter of 2019. Standex expects operating income to be sequentially similar to or slightly better than the second fiscal quarter of 2020 and show significant improvement year-over-year.

For the second-quarter, adjusted EPS increased to $1.03 from $0.98, prior year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.01, for the quarter. Analysts' estimates typically exclude special items. Operating income was $17.8 million, a decline of 11.7%.

Second-quarter net sales were $190.6 million, a decline of 2.5% over previous year. Analysts expected revenue of $193.68 million for the quarter.