American Woodmark Corporation (AMWD) has reported 21.14 percent rise in profit for the quarter ended Jan. 31, 2017. The company has earned $14.55 million, or $0.89 a share in the quarter, compared with $12.01 million, or $0.73 a share for the same period last year. Revenue during the quarter grew 14.02 percent to $249.28 million from $218.63 million in the previous year period. Gross margin for the quarter expanded 30 basis points over the previous year period to 20.70 percent. Total expenses were 91.33 percent of quarterly revenues, down from 91.43 percent for the same period last year. This has led to an improvement of 9 basis points in operating margin to 8.67 percent.
Operating income for the quarter was $21.60 million, compared with $18.74 million in the previous year period.
Operating cash flow falls marginally
American Woodmark Corporation has generated cash of $51.66 million from operating activities during the nine month period, down 3.54 percent or $1.90 million, when compared with the last year period. The company has spent $51.73 million cash to meet investing activities during the nine month period as against cash outgo of $33.68 million in the last year period.
The company has spent $11.18 million cash to carry out financing activities during the nine month period as against cash outgo of $4.74 million in the last year period.
Cash and cash equivalents stood at $163.22 million as on Jan. 31, 2017, down 0.89 percent or $1.46 million from $164.68 million on Jan. 31, 2016.
Working capital increases
American Woodmark Corporation has recorded an increase in the working capital over the last year. It stood at $231.60 million as at Jan. 31, 2017, up 11.88 percent or $24.60 million from $207 million on Jan. 31, 2016. Current ratio was at 3.41 as on Jan. 31, 2017, up from 3.36 on Jan. 31, 2016.
Days sales outstanding were almost stable at 11 days for the quarter, when compared with the last year period.
Days inventory outstanding was almost stable at 10 days for the quarter, when compared with the last year period.
Debt moves up marginally
American Woodmark Corporation has witnessed an increase in total debt over the last one year. It stood at $26.04 million as on Jan. 31, 2017, up 3.30 percent or $0.83 million from $25.21 million on Jan. 31, 2016. Total debt was 5.31 percent of total assets as on Jan. 31, 2017, compared with 5.64 percent on Jan. 31, 2016. Debt to equity ratio was at 0.08 as on Jan. 31, 2017, down from 0.09 as on Jan. 31, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
