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Lamson & Sessions (LMS)

Once upon a time, Lamson & Sessions was among the nation's biggest makers of nuts and bolts. But in 1981, as foreign producers were undercutting U.S. fastener companies, the Cleveland-based company jettisoned its historic business and began anew. Today, 140 years after its start, Lamson & Sessions is reaping the payoff from its strategic shift. Profits have quintupled since 2002, to $27.4 million last year, on a 60% increase in sales, to $494.2 million. Figuratively, Lamson & Sessions is still a nuts-and-bolts manufacturer, with three product lines: commercial ductwork for electrical and telecom cables, home electrical products such as light switches, and PVC pipes. As the company is learning as the housing sector cools, these newer businesses are global and cyclical, too. Lamson & Sessions sees sales and earnings rising a more modest 10% in 2006. The company will undergo another change within the next year. Chairman and CEO John Schultze, 68, has said he's retiring after 18 years.

Company Info

2005 Rank

NR

Market Value*
($ Millions)

391.0

Sales*
($ Millions)

530.8

Sales Growth
(3-yr. avg. annual)

15.9 %

Profits*
($ Millions)

34.4

Profit Growth
(3-yr. avg. annual)

74.8 %

Return on Inv. Capital (3-yr.)

10.9 %

Share Price
12-Mo. Hi/Lo

33/9

Share Price
As of 4/28/06

25

Return on Equity

32.9 %

P/E Ratio

11

No. of Employees

1,263

Industry Electrical Components & Equipment
CURRENT
MARKET INFO

LMS >

COMPANY WEB SITE >
Location Cleveland
Phone 216 464-3400
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

The Lamson & Sessions Co. engages in the manufacture and distribution of thermoplastic electrical, consumer, telecommunications, and engineered sewer products primarily in the U.S., Canada, and Caribbean. It operates in three segments Carlon, Lamson Home Products, and PVC Pipe. The Carlon segment sells electrical and telecommunications raceway systems and a range of enclosures, electrical outlet boxes and fittings, multicell duct systems, and high density polyethylene conduit to electrical contractors and distributors, original equipment manufacturers, electric power utilities, cable TV, and telephone and telecommunications companies. The Lamson Home Products segment offers electrical outlet boxes, liquidtight conduit, electrical fittings, door chimes, and lighting controls to home centers and mass merchandisers for the do-it-yourself home improvement market. The PVC Pipe segment supplies electrical, power, and communications conduit to the electrical distribution, telecommunications, consumer, power utility and sewer markets. In addition, the company distributes various consumer electrical wiring devices, home security devices, wireless electrical, and other wireless products. The Lamson & Sessions Co. was founded in 1865 and has its headquarters in Cleveland.


Data provided by Capital IQ
 
John B. Schulze

John B. Schulze, 68

Chairman, Chief Executive Officer and President


Total Compensation*

$ 1,414,317

Total Options Value*

$ 16,417,380

* Fiscal Year 2005


Executive Bio

John Schulze has been a director of Lamson & Sessions since 1984, and serves as the chairman, president, and CEO.


Management Team

Key Executives

John B. Schulze; Eileen E. Clancy; Norman E. Amos; James J. Abel; Donald A. Gutierrez; Lori L. Spencer; Norman P. Sutterer

Board Directors

Michael J. Merriman; John C. Dannemiller; George R. Hill; A. Malachi Mixon; D. Van Skilling; James T. Bartlett; William H. Coquillette; John B. Schulze; James J. Abel


Executive Data provided by Capital IQ