Latest news with #DavidDunbar
Irish Daily Mirror
02-08-2025
- Irish Daily Mirror
Pictured: Irishman who has to pay Sky €600,000 over 'dodgy box' operation
This is the Wexford man who is set to pay Sky up to €600,000 in damages and costs over his operation of a 'dodgy box' streaming service. David Dunbar agreed to pay the broadcaster some €480,000 in damages and at least €100,000 in costs when his case was heard at the High Court in Dublin on Tuesday. Mr Dunbar consented to judgment against him after opting not to defend the civil case, brought by Sky UK Limited over his infringement of the broadcaster's copyright. But he declined to comment when the Irish Mirror called to his home in Wexford on Wednesday, a day after the hearing. He told us: 'No comment.' And he added: 'Don't bother coming back here again, under advice from my solicitor. It is still a legal matter ongoing.' Mr Dunbar faces further sanction for being in contempt of court, having breached orders aimed at preserving evidence of his copyright infringement and orders freezing his assets, among other directions. A suite of sanctions are open to the court, including imprisonment. Mr Dunbar, with an address at Manor Crescent, Roxborough Manor, Co Wexford, was previously described by Sky as a 'top-level' copyright infringer who may have earned up to €450,000 a year from operating an illegal streaming service. The broadcaster alleged that Mr Dunbar provided thousands with access to its copyrighted broadcast material since 2018. On Tuesday, Mr Justice Mark Sanfey was informed that Mr Dunbar was consenting to various reliefs sought by Sky arising from his copyright infringement. The judge said there was no doubt of Mr Dunbar's copyright infringement, and ordered that he pay €480,000 in damages to Sky. Mr Dunbar must also pay the broadcaster's legal costs, the judge ruled, of about €100,000. The judge also granted various permanent injunctions against Mr Dunbar, including an order restraining him from ever operating an Internet Protocol television service, or IPTV - the technology behind 'dodgy box' services. Mr Justice Sanfey reserved his judgment on an attachment and committal motion moved by Sky over Mr Dunbar's breach of several court orders. David Dunbar pictured with Mirror reporter Michael O'Toole at his home in Wexford on Wednesday. Photo: Jim Campbell The court heard that Mr Dunbar did not comply with various orders granted to Sky aimed at gathering evidence of his wrongdoing. This included a refusal to comply with an Anton Piller order, which allows for entry to private premises for the purposes of seizing evidence. Theo Donnelly BL, appearing for Sky and instructed by Philip Lee LLP, submitted that Mr Dunbar engaged in clear breaches of court orders. He submitted that the court orders were explained to Mr Dunbar in layman's terms by an independent solicitor who called to his house on foot of the Anton Piller order. Despite this, he did not allow the solicitor to enter his premises, and proceeded to destroy evidence of his copyright infringement, among other breaches, Mr Donnelly submitted. Counsel said it was hard to see how Mr Dunbar could have engaged in a more 'clear and knowing' contempt of the court orders. It is Mr Dunbar's case that when the orders were explained to him by his legal representatives, he realised the seriousness of the matter. Following this, he said he sought to comply with the court's orders, the court heard. Sky brought High Court proceedings against Mr Dunbar. Photo: Chris Radburn/PA Wire Darren Lehane SC, for Mr Dunbar and instructed by Dodd Solicitors, said his client was acknowledging his contempt of court. In considering sanction for his contempt, Mr Lehane asked the court to take into account Mr Dunbar's speedy consent to a judgment against him in default of defence. Mr Donnelly said he believed Mr Dunbar's case has not been referred to An Garda Síochána, but said he had not taken specific instruction on the matter. The case returns next month. For more of the latest breaking news from the Irish Mirror check out our homepage by clicking here.
Yahoo
01-08-2025
- Business
- Yahoo
Standex (NYSE:SXI) Reports Strong Q2
Industrial manufacturer Standex (NYSE:SXI) beat Wall Street's revenue expectations in Q2 CY2025, with sales up 23.2% year on year to $222 million. Its non-GAAP profit of $2.28 per share was 8.7% above analysts' consensus estimates. Is now the time to buy Standex? Find out in our full research report. Standex (SXI) Q2 CY2025 Highlights: Revenue: $222 million vs analyst estimates of $214.4 million (23.2% year-on-year growth, 3.5% beat) Adjusted EPS: $2.28 vs analyst estimates of $2.10 (8.7% beat) Adjusted EBITDA: $51.6 million vs analyst estimates of $50.38 million (23.2% margin, 2.4% beat) Operating Margin: 15.6%, in line with the same quarter last year Free Cash Flow Margin: 11.2%, down from 12.2% in the same quarter last year Market Capitalization: $1.99 billion Commenting on the quarter's results, President and Chief Executive Officer David Dunbar said, "We concluded our fiscal year with a very strong performance in the fourth quarter. Adjusted operating margin expanded 350 basis points year-on-year to a record 20.6% and adjusted earnings per share grew more than 20% to a record $2.28. These results reflect the continued evolution of our portfolio, accelerated by the acquisition of the Amran/Narayan Group in October 2024, and continued solid operational performance from core businesses. We paid down approximately $27 million of debt in the fiscal fourth quarter, and our net leverage ratio was reduced to 2.6x." Company Overview Holding over 500 patents globally, Standex (NYSE:SXI) is a manufacturer and distributor of industrial components for various sectors. Revenue Growth A company's long-term sales performance can indicate its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, Standex grew its sales at a tepid 5.5% compounded annual growth rate. This fell short of our benchmark for the industrials sector and is a rough starting point for our analysis. Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. Standex's recent performance shows its demand has slowed as its annualized revenue growth of 3.3% over the last two years was below its five-year trend. This quarter, Standex reported robust year-on-year revenue growth of 23.2%, and its $222 million of revenue topped Wall Street estimates by 3.5%. Looking ahead, sell-side analysts expect revenue to grow 10.8% over the next 12 months, an improvement versus the last two years. This projection is commendable and indicates its newer products and services will spur better top-line performance. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating Margin Standex has been an efficient company over the last five years. It was one of the more profitable businesses in the industrials sector, boasting an average operating margin of 14.3%. This result isn't surprising as its high gross margin gives it a favorable starting point. Analyzing the trend in its profitability, Standex's operating margin rose by 3 percentage points over the last five years, as its sales growth gave it operating leverage. In Q2, Standex generated an operating margin profit margin of 15.6%, in line with the same quarter last year. This indicates the company's cost structure has recently been stable. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Standex's EPS grew at a spectacular 16.8% compounded annual growth rate over the last five years, higher than its 5.5% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. We can take a deeper look into Standex's earnings quality to better understand the drivers of its performance. As we mentioned earlier, Standex's operating margin was flat this quarter but expanded by 3 percentage points over the last five years. On top of that, its share count shrank by 1.7%. These are positive signs for shareholders because improving profitability and share buybacks turbocharge EPS growth relative to revenue growth. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For Standex, its two-year annual EPS growth of 7.8% was lower than its five-year trend. We hope its growth can accelerate in the future. In Q2, Standex reported adjusted EPS at $2.28, up from $1.76 in the same quarter last year. This print beat analysts' estimates by 8.7%. Over the next 12 months, Wall Street expects Standex's full-year EPS of $7.85 to grow 9.1%. Key Takeaways from Standex's Q2 Results We were impressed by how significantly Standex blew past analysts' revenue expectations this quarter. We were also happy its EPS and EBITDA outperformed Wall Street's estimates. Zooming out, we think this was a good print with some key areas of upside. The stock remained flat at $164.74 immediately after reporting. Big picture, is Standex a buy here and now? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
26-06-2025
- Business
- Yahoo
Standex's Q1 Earnings Call: Our Top 5 Analyst Questions
Standex's first quarter results for 2025 were well received by the market, driven primarily by strong contributions from recently acquired businesses and new product launches. CEO David Dunbar noted that 'sales into fast-growing end markets represented a greater percentage of total sales,' with recent acquisitions like Amran/Narayan and McStarlite adding significant momentum. Management attributed the company's ability to maintain operating margins to a combination of price actions and productivity initiatives, despite ongoing organic revenue declines in several core segments. Is now the time to buy SXI? Find out in our full research report (it's free). Revenue: $207.8 million vs analyst estimates of $204.2 million (17.2% year-on-year growth, 1.7% beat) Adjusted EPS: $1.95 vs analyst estimates of $1.92 (1.5% beat) Adjusted EBITDA: $45.3 million vs analyst estimates of $45.64 million (21.8% margin, 0.8% miss) Operating Margin: 14.6%, in line with the same quarter last year Market Capitalization: $1.91 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Chris Moore (CJS Securities) asked about the impact of tariffs by segment and how Standex plans to cover associated costs. CEO David Dunbar confirmed that price and productivity actions would address most impacts, except for some challenges in Scientific. Matt Koranda (ROTH Capital) questioned the drivers of growth at Amran/Narayan and the timeline for European expansion. Dunbar clarified that grid modernization and data centers are key, and the European plant requires limited initial investment. Ross Sparenblek (William Blair) inquired about the outlook for core electronics and confidence in returning to organic growth. CFO Ademir Sarcevic pointed to strengthening orders in Asia and an inflection point for organic growth in the coming quarters. Gary Prestopino (Barrington Research) sought clarity on fast-growth market sales and margin contributions from recent acquisitions. Dunbar emphasized that margins in these markets are higher than the company average and are becoming more accretive as they scale. Mike Shlisky (D.A. Davidson) probed working capital and tariff risk, with Sarcevic reiterating that overall corporate exposure to tariffs is minimal and that opportunities exist to improve cash conversion through better receivables management. In future quarters, our analysts will be watching (1) the pace and execution of capacity expansions in India, the U.S., and Europe, (2) continued adoption rates and revenue contribution from new product launches across fast-growth markets, and (3) progress on restructuring and cost-saving initiatives in underperforming segments. We will also monitor the company's ability to mitigate tariff impacts and adapt to funding pressures in the Scientific segment. Standex currently trades at $157.96, up from $145.04 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BreakingNews.ie
19-06-2025
- BreakingNews.ie
Alleged 'dodgy box' operator may have earned €450,000 per year, court told
Broadcaster and telecommunications giant Sky has claimed in the High Court that a Co Wexford man may have earned up to €450,000 a year from operating a so-called 'dodgy box' service. Sky TV Limited alleges David Dunbar has operated an illegal service providing thousands with access to its copyrighted broadcast material since 2018. Advertisement Last month, Sky was granted various orders aimed at gathering evidence of Mr Dunbar's alleged infringement, including permission to seize devices belonging to him. In a sworn statement to the court, a Sky anti-piracy investigator says Mr Dunbar is considered by Sky to be a 'top-level' copyright infringer, and that his activity 'is likely to have been to the very serious detriment' of Sky and broadcasters and legitimate streaming services in Ireland. Last November, investigators at Sky became aware of a social media account involved in selling an Internet Protocol television service (IPTV). IPTV is the technology behind 'dodgy box' services. This account was later linked to Mr Dunbar, the investigator says. Advertisement Separately, Sky investigators were informed of an anonymous tip-off received by An Garda Síochána's Crime Stoppers initiative, alleging Mr Dunbar's operation of the service. The investigator estimates Mr Dunbar to have up to 5,000 customers paying for his service, generating about €450,000 per year from the operation. Sky's investigation found Mr Dunbar allegedly charged two annual subscription rates for the service, priced at €80 and €100 respectively. The investigator says he believes Mr Dunbar has at least 1,682 customers, but the true number is likely much higher. On Thursday, barristers for Sky said Mr Dunbar, with an address at Manor Crescent, Roxborough Manor, Co Wexford, had breached a number of the court's orders, and was in contempt of court. Advertisement Theo Donnelly BL, appearing for Sky and instructed by Philip Lee solicitors, said statements made by Mr Dunbar in the proceedings contained inaccuracies and inconsistencies, and failed to explain certain breaches of orders. Mr Donnelly said bank statements exhibited to an unsworn statement, received by his side this week and due to be filed with the court, appeared to show a dissipation of funds, in breach of freezing orders granted by the court. Ireland 'Dodgy box' operator jailed for possession of over... Read More Mr Donnelly suggested that Mr Dunbar be given a final opportunity to clarify Sky's concerns, brought on by his statements. Adam Dodd, a solicitor representing Mr Dunbar, said his client had provided a 'fulsome' affidavit, 'warts and all'. He said his client had admitted to his contempt of court, and has indicated that he is seeking to comply with the orders of the court. Mr Justice Mark Sanfey said he was of the view that Mr Dunbar should 'put his best foot forward' and answer queries raised by Sky regarding his statements to the court. Mr Justice Sanfey warned Mr Dodd that there was a limit to his patience. The judge adjourned the case to next month.
Yahoo
16-05-2025
- Business
- Yahoo
SXI Q1 Earnings Call: Acquisitions and New Product Growth Offset Organic Weakness, Margins Hold Steady
Industrial manufacturer Standex (NYSE:SXI) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 17.2% year on year to $207.8 million. Its non-GAAP profit of $1.95 per share was 1.5% above analysts' consensus estimates. Is now the time to buy SXI? Find out in our full research report (it's free). Revenue: $207.8 million vs analyst estimates of $204.2 million (17.2% year-on-year growth, 1.7% beat) Adjusted EPS: $1.95 vs analyst estimates of $1.92 (1.5% beat) Adjusted EBITDA: $45.3 million vs analyst estimates of $45.64 million (21.8% margin, 0.8% miss) Operating Margin: 14.6%, in line with the same quarter last year Free Cash Flow Margin: 1.7%, down from 10.8% in the same quarter last year Market Capitalization: $1.89 billion Standex's first quarter results reflected the company's ongoing shift towards growth in fast-expanding end markets and successful integration of recent acquisitions. Management pointed to higher sales contributions from the Amran/Narayan Group and McStarlite, as well as an acceleration in new product launches, as key drivers behind the quarter's revenue increase. CEO David Dunbar highlighted that 'sales into fast-growth markets increased to 29% of total company sales,' underlining the company's focus on sectors like electrical grid modernization and aerospace. Looking ahead, management signaled that new product ramp-ups and continued investment in capacity expansion—particularly in Europe and India—will be central themes. Dunbar indicated that customer commitments for Amran/Narayan products 'extend years into the future,' giving the company confidence in ongoing expansion. However, he acknowledged ongoing macro uncertainties, including tariffs and slower demand in scientific and certain industrial markets, with the company planning additional pricing and productivity actions to mitigate these headwinds. Standex's management attributed first quarter performance primarily to acquisition contributions and targeted growth in select end markets, while addressing challenges in organic growth and tariff impacts. Acquisition-Driven Revenue Gains: Standex's revenue growth was bolstered by the contributions from the Amran/Narayan Group (electronics) and recent McStarlite (aerospace components) acquisitions. These acquisitions expanded the company's exposure to fast-growing markets, with Amran/Narayan's integration performing ahead of expectations. Expansion in Fast-Growth Markets: Sales into markets such as electrical grid modernization, space, defense, and renewable energy represented a larger share of the portfolio. Management noted that these segments not only provided top-line growth but also supported higher margins due to favorable product mix and value-added offerings. New Product Momentum: The company doubled year-on-year new product sales, with 13 product launches year-to-date. Management expects new products to contribute over 200 basis points of incremental growth for the full year, emphasizing the long ramp-up cycle typical for products integrated into OEM platforms. Tariff and Supply Chain Management: While new tariffs—especially on imports from China—presented a risk, management downplayed the overall impact, citing regional manufacturing strategies and the ability to offset most tariff costs through pricing and productivity improvements. They noted that only about 6% of total cost of goods sold was exposed to Chinese imports. Margin and Cash Flow Dynamics: Operating margin remained stable despite organic sales declines, benefitting from price and productivity initiatives. However, free cash flow declined significantly year-on-year due to transaction-related payments, longer customer credit terms from acquired businesses, and annual tax payments. Management highlighted ongoing efforts to improve working capital efficiency in upcoming quarters. Management's outlook for the coming quarters centers on executing expansion plans for recent acquisitions, ramping up new product launches, and navigating external cost pressures. The focus is on sustaining growth in targeted end markets while managing margin and cash flow headwinds. Capacity Expansion Progress: The company is investing in expanded manufacturing capacity for Amran/Narayan in India, the United States, and a new European site, with initial investment levels described as modest. Management expects these expansions to support growing demand from major OEM customers, particularly in the electrical grid and data center sectors. Organic Growth Resumption: While organic revenue declined in the latest quarter, management expressed confidence in an inflection towards organic growth in electronics and engineering technologies, citing improving order trends in Asia and stable demand from core customers. Tariff and Demand Risks: Management acknowledged risks from tariffs and ongoing softness in scientific and general industrial end markets. The company is responding with a combination of price increases, productivity initiatives, and supply chain adjustments, but scientific remains the most exposed segment to tariff-related margin pressure. Chris Moore (CJS Securities): Asked about the impact and mitigation strategies for tariffs across segments; management detailed pricing and productivity actions, highlighting scientific as the most challenging area for full cost recovery. Matt Koranda (ROTH Capital): Inquired about capacity utilization and margin implications of Amran/Narayan's European expansion; management responded that current capacity is sufficient and margin impact from the expansion is expected to be minimal. Ross Sparenblek (William Blair): Sought clarity on organic growth outlook and restocking trends in electronics; management indicated improvement in Asia and confidence in returning to organic growth in the next fiscal year. Gary Prestopino (Barrington Research): Questioned the margin profile of fast-growth markets and how Amran/Narayan affects it; management confirmed that these markets yield higher margins, with Amran/Narayan adding 'a couple of hundred basis points' to segment margins. Mike Shlisky (D.A. Davidson): Asked about working capital improvements and the overall impact of tariffs; management outlined ongoing efforts to optimize receivables and inventories and reiterated that tariff exposure is minor at the corporate level. In the next few quarters, our analysts will be monitoring (1) the pace and execution of capacity expansion for Amran/Narayan in Europe and India, (2) the ramp-up and market adoption of recently launched products, and (3) progress in improving working capital efficiency to support free cash flow recovery. Sustained strength in fast-growth markets and successful mitigation of tariff and demand headwinds will also be key markers for operational execution. Standex currently trades at a forward P/E ratio of 17.5×. At this valuation, is it a buy or sell post earnings? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
