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Stock Market & Financial Investment News

News Breaks
January 28, 2014
10:01 EDTTRSannounces dismissal of patent infringement, trade secret misappropriation suit
TriMas announced that the Federal District Court for the Eastern District of Arkansas granted summary judgment for Cequent Performance Products in a patent infringement and trade secret misappropriation lawsuit filed by MCB Sales & Installation Services. The suit alleged that Cequent infringed a U.S. patent owned by MCB and trade secret misappropriation. At the pleading stage, the Court dismissed all of MCB’s claims except for the patent infringement and misappropriation of trade secret claims. After discovery, Cequent moved for summary judgement on those remaining claims. The Court granted summary judgment of no patent infringement and no trade secret misappropriation in favor of Cequent, ordered MCB to pay Cequent’s costs, and entered final judgment dismissing the case in its entirety.
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July 31, 2014
08:11 EDTTRSTriMas sees FY14 EPS near low end of $2.15-$2.25, consensus $2.24
The company maintains its 2014 outlook originally provided on February 20. The company estimates that 2014 sales will increase 6% to 8% as compared to 2013. The company expects to generate between $55M-$65M of Free Cash Flow, defined as Cash Flow from Operating Activities less Capital Expenditures, for 2014. The company said, "While we are maintaining our full year 2014 EPS guidance of $2.15 to $2.25, we believe we are trending to the lower end of the range given the current conditions we are facing."
08:10 EDTTRSTriMas reports Q2 EPS ex-items 65c, consensus 64c
Reports Q2 revenue $404.0M, consensus $399.53M.
July 28, 2014
10:01 EDTTRSTriMas acquires Lion Holdings Pvt for $27M in cash
TriMas Corporation announced that it has acquired Lion Holdings Pvt. Ltd. for $27M, paid in cash at closing. The transaction closed July 25 at which time Lion Holdings became part of the company's Packaging segment. Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10M in revenue for the 12 months ended June 30.

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