KEQU Kewaunee Scientific Corp.

Kewaunee Scientific Corp. engages in the design, manufacture, and installation of laboratory, healthcare, technical furniture, and infrastructure products. It operates through the following segments: Domestic, and international. The Domestic segment designs, manufactures, and installs scientific and technical furniture, including steel and wood laboratory cabinetry, fume hoods, laminate casework, flexible systems, worksurfaces, workstations, workbenches, and computer enclosures. The International segment offers products and services, including facility design, detailed engineering, construction, and project management from the planning stage through testing and commissioning of laboratories. The Company was founded in 1906 and is headquartered in Statesville, NC.

Company profile

Ticker

KEQU

Exchange

NASDAQ

Website

www.kewaunee.com

CEO

Thomas D. Hull

Incorporated in

Delaware

Location

North Carolina

Fiscal year end

Apr 30

Sector

Health Technology > Office Equipment/Supplies

Industry (SEC)

Laboratory Apparatus & Furniture

ThermoGenesis • Misonix • Reflect Scientific ...

SEC CIK

0000055529

Corporate docs

Articles of Incorporation & Bylaws

IRS number

380715562

KEQU stock data

S&P 500

1M 1Y 2Y 5Y

FINRA relative short interest over last month (20 trading days) ?

Company financial data Financial data

Chart KEQU financial data

Quarter (USD)	Jan 20	Oct 19	Jul 19	Apr 19
Revenue	34.23M	39.72M	39.34M	34.75M
Net income	-1.92M	-2.18M	471K	-1.27M
Diluted EPS	-0.7	-0.79	0.17	-0.46
Net profit margin	-5.60%	-5.48%	1.20%	-3.65%
Operating income	-2.07M	-39K	776K	-1.56M
Net change in cash	-4.09M	-4.01M	1.01M	-124K
Cash on hand	3.55M	7.65M	11.65M	10.65M
Cost of revenue	28.95M	33.41M	32.39M	29.91M

Annual (USD)	Apr 19	Apr 18	Apr 17	Apr 16
Revenue	146.55M	158.05M	138.56M	128.63M
Net income	1.53M	5.28M	4.52M	3.8M
Diluted EPS	0.55	1.9	1.66	1.42
Net profit margin	1.04%	3.34%	3.26%	2.96%
Operating income	2.11M	9.92M	6.54M	5.7M
Net change in cash	931K	-2.79M	7.28M	2.18M
Cash on hand	10.65M	9.72M	12.51M	5.22M
Cost of revenue	121.23M	125.89M	111.95M	104.92M

Financial data from company earnings reports

Recent insider trades

KEQU insider ownership history Insider history

Date	Owner	Security	Transaction	Code	$Price	#Shares	$Value	#Remaining
31 Dec 19	Margaret B Pyle	Common Stock	Gift	Dispose G	0	890	0	48,974
2 Dec 19	Mandar Ranade	RSU Common Stock	Grant	Aquire A	0	3,247	0	3,247
17 Jul 19	Margaret B Pyle	Common Stock	Gift	Dispose G	0	1,620	0	49,864
16 Jul 19	Ryan S. Noble	Common Stock	Payment of exercise	Dispose F	18.43	63	1.16K	366
16 Jul 19	Ryan S. Noble	Common Stock	Option exercise	Aquire M	0	197	0	429
16 Jul 19	Ryan S. Noble	RSU Common Stock	Option exercise	Dispose M	0	197	0	1,773

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2019

KEQU institutional ownership history Ownership history

40.8% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	31	35	-11.4%
Opened positions	2	4	-50.0%
Closed positions	6	3	+100.0%
Increased positions	5	7	-28.6%
Reduced positions	13	12	+8.3%

13F shares	Current	Prev Q	Change
Total value	15.09M	19.43M	-22.3%
Total shares	1.12M	1.25M	-10.1%
Total puts	0	0	–
Total calls	0	0	–
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
NTRS Northern Trust	332.23K	$4.47M	-0.3%
Dimensional Fund Advisors	214.52K	$2.89M	-1.5%
Vanguard	125K	$1.68M	0.0%
Renaissance Technologies	105.01K	$1.41M	+4.3%
North Star Investment Management	99.69K	$1.34M	0.0%
BEN Franklin Resources	52.7K	$709K	0.0%
Bridgeway Capital Management	33.5K	$451K	0.0%
Minerva Advisors	32.25K	$434K	+142.5%
LSV Asset Management	18.98K	$255K	-44.9%
MS^L Morgan Stanley	17.98K	$242K	-3.2%

Largest transactions	Shares	Bought/sold	Change
Wellington Management	0	-93.24K	EXIT
Minerva Advisors	32.25K	+18.95K	+142.5%
LSV Asset Management	18.98K	-15.47K	-44.9%
Perritt Capital Management	17.92K	-10.99K	-38.0%
FMR	32	-10.78K	-99.7%
BLK BlackRock	12.14K	-5.88K	-32.6%
Morgan Dempsey Capital Management	0	-4.69K	EXIT
USB Us Bancorp	3.02K	-4.58K	-60.3%
Renaissance Technologies	105.01K	+4.31K	+4.3%
Dimensional Fund Advisors	214.52K	-3.31K	-1.5%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Risks

Disruptions in the financial markets have historically created, and may continue to create, uncertainty in economic conditions that may adversely affect our customers and our business.
If we fail to compete effectively, our revenue and profit margins could decline.
If we lose a large customer, our sales and profits would decline.
An increase in the price of raw materials and energy could negatively affect our sales and profits.
Our future growth may depend on our ability to penetrate new international markets.
Events outside our control may affect our operating results.
We depend on key management and technical personnel, the loss of whom could harm our business.
Our stock price is likely to be volatile and could drop.
The Patient Protection and Affordable Care Act may increase the cost of providing medical benefits to employees, which could have a significant adverse impact on our results of operations.
We are subject to other risks that might also cause our actual results to vary materially from our forecasts, targets, or projections, including:
Cybersecurity incidents could expose us to liability and damage our reputation and our business.
Internal Controls Over Financial Reporting.
Changes in U.S. trade policy, including the imposition of tariffs and the resulting consequences, may have a material adverse impact on our business and results of operations.

Management Discussion

Sales for the quarter were $34,225,000, a 5.7% increase from sales of $32,372,000 in the comparable period of the prior year. Domestic sales for the quarter were $26,699,000, up 5.9% from sales of $25,217,000 in the comparable period of the prior year. International sales for the quarter were $7,526,000, up 5.2% from sales of $7,155,000 in the comparable period of the prior year. The increase in Domestic sales for the quarter was a result of increased activity in the Company’s dealer and distribution sales channels. International sales increased year over year as a result of continued deliveries of a large order in the Middle East market.
Sales for the nine months ended January 31, 2020 were $113,283,000, a 1.3% increase from sales of $111,802,000 in the comparable period of the prior year. Domestic sales for the nine-month period were $87,570,000, down 4.7% from sales of $91,909,000 in the comparable period of the prior year. International sales for the period were $25,713,000, up 29.3% from sales of $19,893,000 in the comparable period of the prior year.
The Company’s order backlog was $93 million at January 31, 2020, as compared to $96 million at January 31, 2019, and $101 million at April 30, 2019. The Company continues to have a strong volume of outstanding quotations globally and is aggressively pursuing these projects.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

New words: achieving, administration, bad, chain, concurring, disruption, doubtful, experience, franchise, job, key, outbreak, platform, procure, produce, public, recruitment, rely, removing, revocation, run, shortage, simplify, Simplifying, skilled, source, spread, supply, Topic, unable

Removed: accelerated, approximate, extended, filer, higher, registrant, smaller

From filing 10-Q 2020 Q3