Badger Meter, Inc. (BMI) has reported an 8.74 percent fall in profit for the quarter ended Mar. 31, 2015. The company has earned $4.23 million, or $0.29 a share in the quarter, compared with $4.63 million, or $0.32 a share for the same period last year.
Revenue during the quarter went up marginally by 0.18 percent to $83.64 million from $83.50 million in the previous year period. Gross margin for the quarter expanded 128 basis points over the previous year period to 35.96 percent. Total expenses were 91.57 percent of quarterly revenues, up from 90.79 percent for the same period last year. That has resulted in a contraction of 78 basis points in operating margin to 8.43 percent.
Operating income for the quarter was $7.05 million, compared with $7.69 million in the previous year period.
“Our first quarter results were impacted by a combination of factors, including severe winter weather in the Northeast and Midwest, the weaker Euro and the downturn in the oil & gas market, offset somewhat by a positive contribution from National Meter and Automation, which we acquired in October 2014,” said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter.
Working capital increases
Badger Meter, Inc. has recorded an increase in the working capital over the last year. It stood at $35.16 million as at Mar. 31, 2015, up 15.14 percent or $4.62 million from $30.54 million on Mar. 31, 2014. Current ratio was at 1.33 as on Mar. 31, 2015, up from 1.30 on Mar. 31, 2014. Cash conversion cycle (CCC) has increased to 149 days for the quarter from 130 days for the last year period. Days sales outstanding went up to 58 days for the quarter compared with 56 days for the same period last year.
Days inventory outstanding has increased to 121 days for the quarter compared with 103 days for the previous year period. At the same time, days payable outstanding was almost stable at 29 days for the quarter, when compared with the previous year period.
Debt remains almost stable
Badger Meter, Inc. has witnessed an increase in short-term debt over the last one year. It stood at $75.92 million as on Mar. 31, 2015, up 2.78 percent or $2.05 million from $73.87 million on Mar. 31, 2014.
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]
