Hamilton Beach 2011 Annual Report Download

Download and view the complete annual report

Please find the complete 2011 Hamilton Beach annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 25

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25

MINING
NACCO Industries, Inc.
·2011 Annual Report
Lift Trucks ·Mining ·Housewares
Global reach

Table of contents

  • Page 1
    NACCO Industries, Inc. · 2011 Annual Report Global reach Lift Trucks · Mining · Housewares MINING

  • Page 2
    ...leading company in retail and commercial small appliances, with strong share positions in many of the categories in which it competes. HBB products are primarily distributed through mass merchants, national department stores, wholesale distributors and other retail sales outlets. Kitchen Collection...

  • Page 3
    ... high-quality products - Continually reduce manufacturing and supply chain costs - Manufacturing in market of sale • Sales and service excellence - Independent dealer networks with dual brand representation if dealerships meet criteria - Strong national account direct sales group to support large...

  • Page 4
    ... 2011. Litigation costs related to the failed transaction with Applica were $2.8 million, $18.8 million, $1.1 million and $0.8 million in 2011, 2010, 2009 and 2008, respectively. (2) During 2008, NACCO's stock price significantly declined compared with previous periods and the Company's market...

  • Page 5
    ... Group ...$ Hamilton Beach Brands ...Kitchen Collection ...North American Coal Corporation ...NACCO and Other ...Provided by operating activities ...$ Investing Activities NACCO Materials Handling Group ...$ Hamilton Beach Brands ...Kitchen Collection ...North American Coal Corporation ...NACCO and...

  • Page 6
    ... turning radius for limited space. Center: Early morning mining operations at The Coteau Properties Company's Freedom Mine in North Dakota. Bottom: The newest model of the Hamilton Beach® BrewStation® 12-cup coffee maker. (1) For purposes of this annual report, discussions about net income refer...

  • Page 7
    ... year. Given the Company's strong position in the industries it competes in, NACCO hopes for enhanced valuation as it continues to successfully execute its strategies to enable its subsidiaries to reach their financial targets. NACCO's Board of Directors in November 2011 approved the repurchase of...

  • Page 8
    ... throughout the world serving a global customer base. The company is continually seeking to expand its reach by enhancing its dealer network in individual markets and sourcing components from all over the globe, while executing its strategy of manufacturing in the market of sale. However, while the...

  • Page 9
    ... unit booking and shipment levels in 2012 compared with 2011, primarily as a result of new product introductions. Backlog and parts volumes are also expected to remain relatively steady in 2012. While European financial concerns continue, the sustainability of the market recovery remains in question...

  • Page 10
    ...generate additional market share, and to ensure that customer applications are properly served with the right products at the right prices to achieve target margins, especially in the internal combustion engine product lines where NMHG now offers utility, medium-duty and premium heavyduty models. As...

  • Page 11
    ... its products, supply chain, manufacturing, quality, pricing, distribution and sales and marketing capabilities will position the company well in the global lift truck market. NMHG's objective is to leverage this position to increase market share and improve product margins to target levels. NMHG...

  • Page 12
    ... Florida construction market remained weak. In addition, NACoal received income of $7.4 million, or $4.4 million after tax of $3.0 million, in 2010 related to the reimbursement of previously recognized costs for pre-development activities from Mississippi Power Company, which did not recur in 2011...

  • Page 13
    ...higher than 2011 provided customers achieve currently planned power plant operating levels. The company is optimistic the issues affecting the power plant served by the Mississippi Lignite Mining Company ("MLMC") have been substantially resolved, returning MLMC to a more regular production state in...

  • Page 14
    ... million in 2010 to $493.0 million in 2011 as the company was challenged during the year with lower unit sales volumes and reduced placements and promotions in the U.S. consumer retail market, mainly at some of Hamilton Beach's mass-market retail customers. Net income declined from $24.4 million in...

  • Page 15
    ..., promotions, House wa r es Hamilton Beach Brands' newest products include, clockwise from left: Hamilton Beach® The Scoop™ single-serve coffee maker, Hamilton Beach® The Scoop™ 2-Way Brewer coffee maker, Proctor Silex® can opener, Proctor Silex® two-slice toaster, Hamilton Beach® Durathon...

  • Page 16
    ... Plus food processor Bottom: Hamilton Beach® Belgian-Style waffle maker increased placements and branding programs, together with appropriate levels of advertising for the company's highly successful and innovative product lines, such as The ScoopTM, a new single-serve coffee maker. Hamilton Beach...

  • Page 17
    ... this increased level of new product platforms in 2012 and beyond, the company believes it is well-positioned to deliver increased placements and promotions across the retail marketplace. The company is focused on ensuring it remains a leading designer, marketer and distributor of small electric...

  • Page 18
    ... weather and financial pressures weighing on middlemarket consumers reduced customer visits to its stores. The company also incurred higher costs as it combined its two distribution centers into one and invested in closing underperforming stores and opening new Kitchen Collection® stores. Kitchen...

  • Page 19
    ... sales and margins are also expected as a result of further improvements in the company's store formats and layouts at both the Kitchen Collection® and Le Gourmet Chef ® stores as a result of further refinements of its promotional offers and merchandise mix in both store formats. In 2011, Kitchen...

  • Page 20
    ... top-line growth through placements and promotions. Improved results are expected at Kitchen Collection as new stores gain traction and the company focuses on improving the profitability of its Le Gourmet Chef® stores. Finally, an expected increase in tons delivered and a higher level of production...

  • Page 21
    ... management believes it provides useful information with respect to earnings in a form that is comparable to the Company's cost of capital employed, which includes both equity and debt securities, net of cash. ** Tax rate of 38% represents the Company's target marginal tax rate compared with 2011...

  • Page 22
    [This Page Left Intentionally Blank]

  • Page 23
    ... Information Technology Kathleen L. Diller Vice President, General Counsel and Secretary James H. Taylor Vice President and Chief Financial Officer Richard E. Moss Senior Director, Finance & Treasurer Directors: John P. Jumper Chief Executive Officer, SAIC Retired Chief of Staff, United States Air...

  • Page 24
    ... at the corporate office located at: 5875 Landerbrook Drive, Cleveland, Ohio 44124 Stock Exchange Listing The New York Stock Exchange Symbol: NC Investor Relations Contact Investor questions may be addressed to: Investor Relations NACCO Industries, Inc. 5875 Landerbrook Drive, Suite 300 Cleveland...

  • Page 25
    . 5875 Landerbrook Drive, Suite 300 • Cleveland, Ohio 44124 An Equal Opportunity Employer