Burnham Holdings, Inc. Announces Second Quarter 2025 Financial Results
Burnham Holdings (OTC-Pink: BURCA) reported strong Q2 2025 financial results, with net sales reaching $53.0 million, an 8.5% increase year-over-year. The company maintained solid gross profit margins of 21.6% and reported adjusted EBITDA of $9.0 million for H1 2025.
Key strategic moves included the divestiture of Thermo Pride and Norwood Manufacturing for $27.3 million, yielding net proceeds of $23.7 million, and the planned wind-down of Crown Boiler operations, resulting in $3.1 million in impairment charges. The company declared a quarterly dividend of $0.23 per share, payable September 25, 2025.
Adjusted Q2 2025 diluted EPS improved to $0.23 from $0.18 in 2024, while H1 2025 adjusted diluted EPS reached $0.95 compared to $0.81 in H1 2024.
Burnham Holdings (OTC-Pink: BURCA) ha riportato solidi risultati finanziari nel secondo trimestre del 2025, con vendite nette pari a 53,0 milioni di dollari, in aumento dell'8,5% rispetto all'anno precedente. L'azienda ha mantenuto margini lordi solidi del 21,6% e ha registrato un EBITDA rettificato di 9,0 milioni di dollari nel primo semestre del 2025.
Le mosse strategiche chiave hanno incluso la cessione di Thermo Pride e Norwood Manufacturing per 27,3 milioni di dollari, con un ricavo netto di 23,7 milioni di dollari, e la prevista chiusura delle operazioni di Crown Boiler, che ha comportato oneri di svalutazione per 3,1 milioni di dollari. La societ脿 ha dichiarato un dividendo trimestrale di 0,23 dollari per azione, pagabile il 25 settembre 2025.
L'utile diluito rettificato per azione del secondo trimestre 2025 猫 migliorato a 0,23 dollari rispetto a 0,18 dollari nel 2024, mentre l'utile diluito rettificato per azione del primo semestre 2025 ha raggiunto 0,95 dollari rispetto a 0,81 dollari nel primo semestre 2024.
Burnham Holdings (OTC-Pink: BURCA) report贸 s贸lidos resultados financieros en el segundo trimestre de 2025, con ventas netas que alcanzaron los 53,0 millones de d贸lares, un aumento del 8,5% interanual. La compa帽铆a mantuvo m谩rgenes brutos s贸lidos del 21,6% y report贸 un EBITDA ajustado de 9,0 millones de d贸lares en el primer semestre de 2025.
Las principales acciones estrat茅gicas incluyeron la desinversi贸n de Thermo Pride y Norwood Manufacturing por 27,3 millones de d贸lares, generando ingresos netos de 23,7 millones de d贸lares, y la prevista liquidaci贸n de las operaciones de Crown Boiler, que result贸 en cargos por deterioro de 3,1 millones de d贸lares. La compa帽铆a declar贸 un dividendo trimestral de 0,23 d贸lares por acci贸n, pagadero el 25 de septiembre de 2025.
La utilidad diluida ajustada por acci贸n del segundo trimestre de 2025 mejor贸 a 0,23 d贸lares desde 0,18 d贸lares en 2024, mientras que la utilidad diluida ajustada por acci贸n del primer semestre de 2025 alcanz贸 0,95 d贸lares frente a 0,81 d贸lares en el primer semestre de 2024.
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欤检殧 鞝勲灥鞝� 臁办箻搿滊姅 Thermo Pride鞕� Norwood Manufacturing鞚� 毵り皝鞙茧 2,730毵� 雼煬毳� 頇曤炒頃橁碃 靾滌垬鞚奠潃 2,370毵� 雼煬鞓�鞙茧┌, Crown Boiler 靷梾鞚� 雼硠鞝� 膦呺 瓿勴殟鞙茧 310毵� 雼煬鞚� 靻愳儊彀啇鞚� 氚滌儩頄堨姷雼堧嫟. 須岇偓電� 攵勱赴氤� 氚半嫻旮堨溂搿� 欤茧嫻 0.23雼煬毳� 靹犾柛頄堨溂氅�, 歆�旮夓澕鞚� 2025雲� 9鞗� 25鞚检瀰雼堧嫟.
2025雲� 2攵勱赴 臁办爼 頋劃 欤茧嫻靾滌澊鞚�(EPS)鞚� 2024雲� 0.18雼煬鞐愳劀 0.23雼煬搿� 臧滌劆霅橃棃鞙茧┌, 2025雲� 靸侂皹旮� 臁办爼 頋劃 EPS電� 2024雲� 靸侂皹旮� 0.81雼煬鞐愳劀 0.95雼煬搿� 歃濌皜頄堨姷雼堧嫟.
Burnham Holdings (OTC-Pink : BURCA) a annonc茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, avec un chiffre d'affaires net atteignant 53,0 millions de dollars, soit une augmentation de 8,5 % par rapport 脿 l'ann茅e pr茅c茅dente. La soci茅t茅 a maintenu des marges brutes solides de 21,6 % et a d茅clar茅 un EBITDA ajust茅 de 9,0 millions de dollars pour le premier semestre 2025.
Les principales actions strat茅giques comprenaient la cession de Thermo Pride et Norwood Manufacturing pour 27,3 millions de dollars, g茅n茅rant un produit net de 23,7 millions de dollars, ainsi que la cessation pr茅vue des activit茅s de Crown Boiler, entra卯nant des charges de d茅pr茅ciation de 3,1 millions de dollars. La soci茅t茅 a d茅clar茅 un dividende trimestriel de 0,23 dollar par action, payable le 25 septembre 2025.
Le BPA dilu茅 ajust茅 du deuxi猫me trimestre 2025 s'est am茅lior茅 脿 0,23 dollar contre 0,18 dollar en 2024, tandis que le BPA dilu茅 ajust茅 du premier semestre 2025 a atteint 0,95 dollar contre 0,81 dollar au premier semestre 2024.
Burnham Holdings (OTC-Pink: BURCA) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025, mit Nettoums盲tzen von 53,0 Millionen US-Dollar, was einem Anstieg von 8,5 % gegen眉ber dem Vorjahr entspricht. Das Unternehmen hielt solide Bruttogewinnmargen von 21,6 % und meldete f眉r das erste Halbjahr 2025 ein bereinigtes EBITDA von 9,0 Millionen US-Dollar.
Wesentliche strategische Ma脽nahmen umfassten den Verkauf von Thermo Pride und Norwood Manufacturing f眉r 27,3 Millionen US-Dollar, woraus Nettoerl枚se von 23,7 Millionen US-Dollar resultierten, sowie den geplanten R眉ckzug aus den Crown Boiler-Aktivit盲ten, was zu Wertminderungsaufwendungen von 3,1 Millionen US-Dollar f眉hrte. Das Unternehmen erkl盲rte eine Quartalsdividende von 0,23 US-Dollar je Aktie, zahlbar am 25. September 2025.
Das bereinigte verw盲sserte Ergebnis je Aktie f眉r das zweite Quartal 2025 verbesserte sich auf 0,23 US-Dollar gegen眉ber 0,18 US-Dollar im Jahr 2024, w盲hrend das bereinigte verw盲sserte Ergebnis je Aktie f眉r das erste Halbjahr 2025 0,95 US-Dollar gegen眉ber 0,81 US-Dollar im ersten Halbjahr 2024 erreichte.
- Net sales increased 8.5% to $53.0 million in Q2 2025
- Strong gross profit margins maintained at 21.6%
- Strategic divestiture generated $23.7 million in net proceeds
- Adjusted EBITDA improved to $9.0 million (7.5% of net sales)
- Adjusted Q2 EPS rose to $0.23 from $0.18 year-over-year
- Significant reduction in interest expense due to debt paydown
- SG&A expenses increased 18.3% in Q2 2025
- $3.1 million in impairment charges from Crown Boiler wind-down
- Q2 operating loss of $2.44 million versus income of $1.21 million in 2024
- Loss from continuing operations of $1.54 million in Q2 2025
Strategic Portfolio Adjustments Drive Strong Growth and Enhanced Focus for Long-Term Value Creation
- Strong Top-Line Growth: Net sales for the second quarter of 2025 reached
$53.0 million 8.5% increase ($4.1 million $108.7 million $97.7 million - Solid Gross Profit Margins: The Company maintained strong gross profit margins of
21.6% in the second quarter of 2025, reflecting operational efficiencies in the Commercial businesses. - Strategic SG&A Investment: Selling, general, and administrative expenses (SG&A) increased by
18.3% in the second quarter and18.2% in the first half of 2025, aligning with planned initiative spending to support long-term growth. - Enhanced Profitability Metrics: Adjusted EBITDA for the first half of 2025 reached
$9.0 million 7.5% of net sales), an increase from$8.5 million $1.1 million $0.8 million $4.5 million $3.8 million - Increased Shareholder Value: Adjusted diluted earnings per share for the second quarter of 2025 improved to
$0.23 $0.18 $0.95 $0.81
"Burnham Holdings' second quarter results reflect not only strong operational performance across our continuing businesses, but also the positive impact of critical strategic decisions made to sharpen our focus and enhance financial flexibility," stated听Chris Drew, President and CEO of Burnham Holdings.听"Our strategic portfolio adjustments, including the divestiture of Thermo Pride and Norwood Manufacturing and the wind down of Crown Boiler operations, are pivotal steps in our unified strategy to build an even more agile, focused, and financially robust company, ultimately creating enhanced long-term value for our shareholders. These decisive actions underscore our commitment to optimizing performance and seizing future growth opportunities."
As previously announced on April 7, 2025, BHI initiated a plan to strategically wind down operations at Crown Boiler. This forward-looking decision is integral to driving manufacturing efficiency, improving production flexibility, and directly supports the Company's long-term growth objectives. This further enables BHI and its subsidiaries to enhance product integration, streamline operations, and standardize offerings across its portfolio. While this strategic realignment involved recorded impairment charges totaling
Building on this strategic momentum, BHI also substantially divested all of the assets of TP and NMI, as announced on May 5, 2025.听 This significant transaction aligns with the holding company's long-term vision to strengthen its core boiler business while expanding its commercial and industrial rental and service operations.听 The transaction successfully closed for
These key strategic actions 鈥� the divestiture of TP and NMI, along with planned wind down of manufacturing operations at Crown Boiler 鈥� underscores BHI's commitment to its core boiler operations. The company's strategic longer-term focus remains firmly on growing and developing its commercial and industrial boiler service and installation business, including expansion of its mobile boiler room offerings.听 The enhanced debt capacity resulting from these initiatives provides valuable flexibility, allowing BHI to pursue alternative funding avenues in support of its strategic growth goals. 听
Further demonstrating our commitment to shareholder returns, the Burnham Holdings, Inc. Board of Directors, at its meeting on July 24, 2025, declared a quarterly common stock dividend of
About Burnham Holdings, Inc.: BHI is the parent company of multiple subsidiaries that are leading domestic manufacturers of boilers, furnaces and related HVAC products and accessories for residential, commercial, and industrial applications.听 BHI is listed on the OTC Exchange under the ticker symbol "BURCA".听 For more information, please visit .
Safe Harbor Statement: This Press Release contains forward-looking statements. Other reports, letters, press releases and investor presentations distributed or made available by the Company may also contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates, and projections, and you should therefore not place undue reliance on them. 听Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. 听Forward-looking statements involve inherent risks and uncertainties. 听We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, variations in weather, changes in the regulatory environment, litigation, customer preferences, general economic conditions, technology, product performance, raw material costs, and increased competition.
Non-GAAP Financial Information: This press release may contain certain non-GAAP financial measures, including, but not limited to, adjusted SG&A, EBITDA, Adjusted EBITDA, Adjusted Net Income and adjusted diluted earnings per share. 听These non-GAAP financial measures do not provide investors with an accurate measure of, and should not be used as a substitute for, the comparable financial measures as determined in accordance with accounting principles generally accepted in
听
Burnham Holdings, Inc. | ||||||||
Consolidated Statements of Income | ||||||||
(In thousands, except per share amounts) | ||||||||
(Unaudited) | ||||||||
Three Months Ended | Six Months Ended | |||||||
June 29, | June 30, | June 29, | June 30, | |||||
2025 | 2024 | 2025 | 2024 | |||||
Net sales听 | $听听听听听听听 52,971 | $听听听听听听听 48,840 | $听听听听听 108,708 | $听听听听听听听 97,746 | ||||
Cost of goods sold | 41,519 | 38,541 | 83,622 | 75,102 | ||||
听 Gross profit | 11,452 | 10,299 | 25,086 | 22,644 | ||||
Selling, general and administrative expenses | 10,755 | 9,090 | 20,908 | 17,688 | ||||
Impairment loss | 3,137 | - | 3,137 | - | ||||
听 Operating (loss) income | (2,440) | 1,209 | 1,041 | 4,956 | ||||
Other (expense) / income: | ||||||||
听 Non-service related pension credit | 50 | 113 | 100 | 250 | ||||
听 Interest and investment gain | 498 | 379 | 492 | 489 | ||||
听 Interest expense | (105) | (533) | (344) | (829) | ||||
听听听 Other income (expense) | 443 | (41) | 248 | (90) | ||||
(Loss) income from continuing operations before income tax | (1,997) | 1,168 | 1,289 | 4,866 | ||||
Income tax (benefit) expense | (459) | 268 | 295 | 1,119 | ||||
听 (Loss) income from continuing operations | (1,538) | 900 | 994 | 3,747 | ||||
鈥� | ||||||||
Income (loss) from discontinued operations, net of tax | 227 | (59) | 1,066 | 85 | ||||
Gain on sale of discontinued operations, net of tax | 6,227 | - | 6,227 | - | ||||
听 Income (loss) from discontinued operations, net of tax | 6,454 | (59) | 7,293 | 85 | ||||
鈥� | ||||||||
听 Net income | $听听听听听听听听听 4,916 | $听听听听听听听听听听听听 841 | $听听听听听听听听听 8,287 | $听听听听听听听听听 3,832 | ||||
鈥� | ||||||||
Earnings per share (EPS): | ||||||||
听 Basic | ||||||||
听听听 (Loss) income from continuing operations | $听听听听听听听听听听 (0.33) | $听听听听听听听听听听听 0.19 | $听听听听听听听听听听听 0.21 | $听听听听听听听听听听听 0.81 | ||||
听听听 Income (loss) from discontinued operations | 1.38 | (0.01) | 1.56 | 0.01 | ||||
听听听听听 Basic EPS | $听听听听听听听听听听听 1.05 | $听听听听听听听听听听听 0.18 | $听听听听听听听听听听听 1.77 | $听听听听听听听听听听听 0.82 | ||||
鈥� | ||||||||
听 Diluted | ||||||||
听听听 (Loss) income from continuing operations | $听听听听听听听听听听 (0.33) | $听听听听听听听听听听听 0.19 | $听听听听听听听听听听听 0.21 | $听听听听听听听听听听听 0.80 | ||||
听听听 Income (loss) from discontinued operations | 1.37 | (0.01) | 1.55 | 0.01 | ||||
听听听听听 Diluted EPS | $听听听听听听听听听听听 1.04 | $听听听听听听听听听听听 0.18 | $听听听听听听听听听听听 1.76 | $听听听听听听听听听听听 0.81 | ||||
鈥� | ||||||||
Cash dividends per share | $听听听听听听听听听听听 0.23 | $听听听听听听听听听听听 0.23 | $听听听听听听听听听听听 0.46 | $听听听听听听听听听听听 0.46 | ||||
听
Burnham Holdings, Inc. | ||||||||
Consolidated Balance Sheets | ||||||||
(In thousands) | ||||||||
(Unaudited) | (Unaudited) | |||||||
June 29, | December 31, | June 30, | ||||||
ASSETS | 2025 | 2024 | 2024 | |||||
Current Assets | ||||||||
Cash and cash equivalents | $听听听听听听听听听听听听听 7,032 | $听听听听听听听听听听听听听 6,329 | $听听听听听听听听听听听听听 6,497 | |||||
Trade accounts receivable, net | 21,371 | 23,858 | 20,764 | |||||
Inventories, net | 54,126 | 46,962 | 60,777 | |||||
Costs in Excess of Billings | 202 | 141 | 1,227 | |||||
Prepaid expenses and other current assets | 3,210 | 4,394 | 5,120 | |||||
Current assets of discontinued operations | - | 12,747 | 14,119 | |||||
Total Current Assets | 85,941 | 94,431 | 108,504 | |||||
鈥� | ||||||||
Property, plant and equipment, net | 69,049 | 65,972 | 65,122 | |||||
Lease assets | 5,851 | 6,005 | 3,980 | |||||
Other long-term assets | 20,455 | 22,261 | 17,396 | |||||
Long-term assets of discontinued operations | - | 5,667 | 5,901 | |||||
Total Assets | $听听听听听听听听听 181,296 | $听听听听听听听听听 194,336 | $听听听听听听听听听 200,903 | |||||
鈥� | ||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Current Liabilities | ||||||||
Accounts payable & accrued expenses | $听听听听听听听听听听听 31,761 | $听听听听听听听听听听听 32,264 | $听听听听听听听听听听听 29,106 | |||||
Billings in excess of costs | 803 | 1,698 | 659 | |||||
Current liabilities of discontinued operations | - | 3,245 | 2,160 | |||||
Current portion of: | ||||||||
听听听 Long-term liabilities | 772 | 772 | 1,171 | |||||
听听听 Lease liabilities | 1,398 | 1,348 | 989 | |||||
听听听 Long-term debt听 | 184 | 184 | 184 | |||||
Total Current Liabilities | 34,918 | 39,511 | 34,269 | |||||
鈥� | ||||||||
Long-term debt | 8,955 | 22,273 | 45,454 | |||||
Lease liabilities | 4,453 | 4,657 | 2,991 | |||||
Other long-term liabilities | 4,210 | 4,823 | 5,599 | |||||
Deferred income taxes | 9,668 | 9,352 | 8,506 | |||||
Long-term liabilities of discontinued operations | - | 441 | 668 | |||||
Shareholders' Equity | ||||||||
Preferred Stock | 530 | 530 | 530 | |||||
Class A Common Stock听 | 3,642 | 3,633 | 3,633 | |||||
Class B Convertible Common Stock | 1,302 | 1,311 | 1,311 | |||||
Additional paid-in capital | 9,685 | 10,799 | 10,525 | |||||
Retained earnings | 134,943 | 128,884 | 122,917 | |||||
Accumulated other comprehensive loss | (21,237) | (20,820) | (24,442) | |||||
Treasury stock, at cost听 | (9,773) | (11,058) | (11,058) | |||||
Total Shareholders' Equity | 119,092 | 113,279 | 103,416 | |||||
Total Liabilities and Shareholders' Equity | $听听听听听听听听听 181,296 | $听听听听听听听听听 194,336 | $听听听听听听听听听 200,903 | |||||
听
Burnham Holdings, Inc. | ||||
Consolidated Statements of Cash Flows | ||||
(In thousands) | ||||
(Unaudited) | ||||
Six Months Ended | ||||
June 29, | June 30, | |||
2025 | 2024 | |||
Cash flows from operating activities: | ||||
听 Net income | $听听听听听听听听听听听听听 8,287 | $听听听听听听听听听听听听听 3,832 | ||
听 Income from discontinued operations, net of tax | 7,293 | 85 | ||
听 Income from continuing operations | $听听听听听听听听听听听听听听听听 994 | $听听听听听听听听听听听听听 3,747 | ||
听 Adjustments to reconcile income from continuing operations | ||||
听听听 to net cash provided by operating activities: | ||||
听听听 Depreciation and amortization | 2,472 | 2,462 | ||
听听听 Impairment loss | 3,137 | - | ||
听听听 Deferred income taxes | 28 | 12 | ||
听听听 Provision for long-term employee benefits | (156) | (250) | ||
听听听 Share-based compensation expense | 279 | 200 | ||
听听听 Other reserves and allowances | (1,445) | 232 | ||
听听听 Changes in current assets and liabilities: | ||||
听听听听听 Decrease in accounts receivable, net | 2,460 | 6,231 | ||
听听听听听 Increase in inventories, net | (8,613) | (12,838) | ||
听听听听听 Decrease (increase) in other current assets | 1,006 | (2,899) | ||
听听听听听 Decrease in accounts payable and accrued expenses | (1,761) | (4,626) | ||
听听听听听听听 Net cash used by operating activities of continuing operations | (1,599) | (7,729) | ||
听听听听听听听 Net cash (used) provided by operating activities of discontinued operations | (9) | 228 | ||
听听听听听听听 Net cash used by operating activities | (1,608) | (7,501) | ||
鈥� | ||||
Cash flows from investing activities: | ||||
听听听 Capital expenditures | (5,729) | (7,567) | ||
听听听 Proceeds from sale of discontinued operations | 23,687 | - | ||
听听听 Other investing activities | - | (8) | ||
听听听听听听听 Net cash provided (used) by investing activities of continuing operations | 17,958 | (7,575) | ||
听听听听听听听 Net cash provided (used) by investing activities of discontinued operations | 7 | (229) | ||
听听听听听听听 Net cash provided (used) by investing activities | 17,965 | (7,804) | ||
鈥� | ||||
Cash flows from financing activities: | ||||
听听听 Net activity from revolving credit facility | (13,226) | 18,314 | ||
听听听 Repayment of term loan | (92) | (92) | ||
听听听 Proceeds from share-based compensation activity | - | - | ||
听听听 Share-based compensation activity | (108) | (71) | ||
听听听 Dividends paid | (2,228) | (2,206) | ||
听听听听听听听 Net cash (used) provided by financing activities | (15,654) | 15,945 | ||
鈥� | ||||
Net increase in cash and cash equivalents | $听听听听听听听听听听听听听听听听 703 | $听听听听听听听听听听听听听听听听 640 | ||
鈥� | ||||
Cash and cash equivalents, beginning of period | $听听听听听听听听听听听听听 6,329 | $听听听听听听听听听听听听听 5,857 | ||
Net increase in cash and cash equivalents | 703 | 640 | ||
Cash and cash equivalents, end of period | $听听听听听听听听听听听听听 7,032 | $听听听听听听听听听听听听听 6,497 | ||
听
Burnham Holdings, Inc. | ||||||||||||||||
Consolidated Statements of Shareholders' Equity | ||||||||||||||||
(In thousands) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
鈥� | ||||||||||||||||
Class B | Accumulated | |||||||||||||||
Class A | Convertible | Additional | Other | Treasury | ||||||||||||
Preferred | Common | Common | Paid-in | Retained | Comprehensive | Stock, | Shareholders' | |||||||||
Stock | Stock | Stock | Capital | Earnings | Loss | at Cost | Equity | |||||||||
Balance at December 31, 2023 | $听听听听听听听 530 | $听听听听听 3,633 | $听听听听听 1,311 | $听听听 11,769 | $听 121,291 | $听听听听听听听听听听 (24,668) | $听 (12,431) | $听听听听听听 101,435 | ||||||||
鈥� | ||||||||||||||||
Net income | - | - | - | - | 2,991 | - | - | 2,991 | ||||||||
Other comprehensive income, | ||||||||||||||||
听听听听 net of tax | - | - | - | - | - | 253 | - | 253 | ||||||||
Cash dividends declared: | ||||||||||||||||
听听听 Common stock - ( | - | - | - | - | (1,065) | - | - | (1,065) | ||||||||
Share-based compensation: | ||||||||||||||||
听听听 Expense recognition | - | - | - | 100 | - | - | - | 100 | ||||||||
鈥� | ||||||||||||||||
Balance at March 31, 2024 | $听听听听听听听 530 | $听听听听听 3,633 | $听听听听听 1,311 | $听听听 11,869 | $听 123,217 | $听听听听听听听听听听 (24,415) | $听 (12,431) | $听听听听听听 103,714 | ||||||||
鈥� | ||||||||||||||||
Net income | - | - | - | - | 841 | - | - | 841 | ||||||||
Other comprehensive loss, | ||||||||||||||||
听听听听 net of tax | - | - | - | - | - | (27) | - | (27) | ||||||||
Cash dividends declared: | ||||||||||||||||
听听听 Preferred stock - | - | - | - | - | (9) | - | - | (9) | ||||||||
听听听 Common stock - ( | - | - | - | - | (1,132) | - | - | (1,132) | ||||||||
Share-based compensation: | ||||||||||||||||
听听听 Expense recognition | - | - | - | 100 | - | - | - | 100 | ||||||||
听听听 Issuance of vested shares | - | - | - | (1,444) | - | - | 1,373 | (71) | ||||||||
鈥� | ||||||||||||||||
Balance at June 30, 2024 | $听听听听听听听 530 | $听听听听听 3,633 | $听听听听听 1,311 | $听听听 10,525 | $听 122,917 | $听听听听听听听听听听 (24,442) | $听 (11,058) | $听听听听听听 103,416 | ||||||||
鈥� | ||||||||||||||||
鈥� | ||||||||||||||||
Class B | Accumulated | |||||||||||||||
Class A | Convertible | Additional | Other | Treasury | ||||||||||||
Preferred | Common | Common | Paid-in | Retained | Comprehensive | Stock, | Shareholders' | |||||||||
Stock | Stock | Stock | Capital | Earnings | Loss | at Cost | Equity | |||||||||
Balance at December 31, 2024 | $听听听听听听听 530 | $听听听听听 3,633 | $听听听听听 1,311 | $听听听 10,799 | $听 128,884 | $听听听听听听听听听听 (20,820) | $听 (11,058) | $听听听听听听 113,279 | ||||||||
鈥� | ||||||||||||||||
Net income | - | - | - | - | 3,371 | - | - | 3,371 | ||||||||
Other comprehensive loss, | ||||||||||||||||
听听听听 net of tax | - | - | - | - | - | (208) | - | (208) | ||||||||
Cash dividends declared: | ||||||||||||||||
听听听 Common stock - ( | - | - | - | - | (1,072) | - | - | (1,072) | ||||||||
Share-based compensation: | ||||||||||||||||
听听听 Expense recognition | - | - | - | 119 | - | - | - | 119 | ||||||||
Conversion of common stock | - | 9 | (9) | - | - | - | - | - | ||||||||
鈥� | ||||||||||||||||
Balance at March 30, 2025 | $听听听听听听听 530 | $听听听听听 3,642 | $听听听听听 1,302 | $听听听 10,918 | $听 131,183 | $听听听听听听听听听听 (21,028) | $听 (11,058) | $听听听听听听 115,489 | ||||||||
鈥� | ||||||||||||||||
Net income | - | - | - | - | 4,916 | - | - | 4,916 | ||||||||
Other comprehensive loss, | ||||||||||||||||
听听听听 net of tax | - | - | - | - | - | (209) | - | (209) | ||||||||
Cash dividends declared: | ||||||||||||||||
听听听 Preferred stock - | - | - | - | - | (9) | - | - | (9) | ||||||||
听听听 Common stock - ( | - | - | - | - | (1,147) | - | - | (1,147) | ||||||||
Share-based compensation: | ||||||||||||||||
听听听 Expense recognition | - | - | - | 160 | - | - | - | 160 | ||||||||
听听听 Issuance of vested shares | - | - | - | (1,393) | - | - | 1,285 | (108) | ||||||||
鈥� | ||||||||||||||||
Balance at June 29, 2025 | $听听听听听听听 530 | $听听听听听 3,642 | $听听听听听 1,302 | $听听听听听 9,685 | $听 134,943 | $听听听听听听听听听听 (21,237) | $听听听 (9,773) | $听听听听听听 119,092 | ||||||||
听
Burnham Holdings, Inc. | ||||||||
Non-GAAP Reconciliation | ||||||||
(In thousands, except per share amounts) | ||||||||
(Unaudited) | ||||||||
Three Months Ended | Six Months Ended | |||||||
June 29, | June 30, | June 29, | June 30, | |||||
2025 | 2024 | 2025 | 2024 | |||||
Net sales of continuing operations | $听听听听听听听 52,971 | $听听听听听听听 48,840 | $听听听听听 108,708 | $听听听听听听听 97,746 | ||||
Net sales of discontinued operations | 2,420 | 6,551 | 11,518 | 13,648 | ||||
听 Total net sales | $听听听听听听听 55,391 | $听听听听听听听 55,391 | $听听听听听 120,226 | $听听听听听 111,394 | ||||
鈥� | ||||||||
Net income | $听听听听听听听听听 4,916 | $听听听听听听听听听听听听 841 | $听听听听听听听听听 8,287 | $听听听听听听听听听 3,832 | ||||
Exclude: | ||||||||
听 Income tax expense | 1,469 | 250 | 2,474 | 1,144 | ||||
听 Interest expense | 105 | 533 | 344 | 829 | ||||
听 Depreciation and amortization | 1,433 | 1,339 | 2,826 | 2,709 | ||||
听听听 EBITDA | $听听听听听听听听听 7,923 | $听听听听听听听听听 2,963 | $听听听听听听听 13,931 | $听听听听听听听听听 8,514 | ||||
鈥� | ||||||||
听听听 EBITDA as a percent of net sales | 14.3听% | 5.3听% | 11.6听% | 7.6听% | ||||
鈥� | ||||||||
EBITDA | $听听听听听听听听听 7,923 | $听听听听听听听听听 2,963 | $听听听听听听听 13,931 | $听听听听听听听听听 8,514 | ||||
Adjustments: | ||||||||
听 Gain on sale of discontinued operation | (8,087) | - | (8,087) | - | ||||
听 Impairment loss | 3,137 | - | 3,137 | - | ||||
听 Adjusted EBITDA | $听听听听听听听听听 2,973 | $听听听听听听听听听 2,963 | $听听听听听听听听听 8,981 | $听听听听听听听听听 8,514 | ||||
听 Adjusted EBITDA as a percent of net sales | 5.4听% | 5.3听% | 7.5听% | 7.6听% | ||||
鈥� | ||||||||
Three Months Ended | Six Months Ended | |||||||
June 29, | June 30, | June 29, | June 30, | |||||
2025 | 2024 | 2025 | 2024 | |||||
Net income | $听听听听听听听听听 4,916 | $听听听听听听听听听听听听 841 | $听听听听听听听听听 8,287 | $听听听听听听听听听 3,832 | ||||
Adjustments, net of tax | (3,811) | - | (3,811) | - | ||||
听 Adjusted net income | $听听听听听听听听听 1,105 | $听听听听听听听听听听听听 841 | $听听听听听听听听听 4,476 | $听听听听听听听听听 3,832 | ||||
鈥� | ||||||||
Diluted weighted-average shares outstanding | 4,720 | 4,714 | 4,705 | 4,701 | ||||
鈥� | ||||||||
Diluted earnings per share | $听听听听听听听听听听听 1.04 | $听听听听听听听听听听听 0.18 | $听听听听听听听听听听听 1.76 | $听听听听听听听听听听听 0.81 | ||||
Adjusted diluted earnings per share | $听听听听听听听听听听听 0.23 | $听听听听听听听听听听听 0.18 | $听听听听听听听听听听听 0.95 | $听听听听听听听听听听听 0.81 | ||||
听
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