Oil-Dri Corp. of America (ODC) has reported a 36.05 percent jump in profit for the year ended Jul. 31, 2015. The company has earned $11.37 million, or $1.59 a share in the year, compared with $8.36 million, or $1.17 a share for the last year. Revenue during the year went down marginally by 1.84 percent to $261.40 million from $266.31 million in the previous year. Gross margin for the year expanded 61 basis points over the previous year to 23.01 percent. Total expenses were 94.20 percent of annual revenues, down from 95.34 percent for the last year. This has led to an improvement of 113 basis points in operating margin to 5.80 percent.
Operating income for the year was $15.15 million, compared with $12.42 million in the previous year.
Operating cash flow improves significantly
Oil-Dri Corp. of America has generated cash of $26.98 million from operating activities during the year, up 65.54 percent or $10.68 million, when compared with the last year. The company has spent $14.25 million cash to meet investing activities during the year as against cash outgo of $15.57 million in the last year. It has incurred net capital expenditure of $15.84 million on net basis during the year, down 13.86 percent or $2.55 million from year ago.
The company has spent $8.74 million cash to carry out financing activities during the year as against cash outgo of $8.37 million in the last year period.
Cash and cash equivalents stood at $20.14 million as on Jul. 31, 2015, up 24.08 percent or $3.91 million from $16.23 million on Jul. 31, 2014.
Working capital remains almost stable
Working capital of Oil-Dri Corp. of America remained almost stable for the year at $53.75 million, when compared with the previous year. Current ratio was at 2.86 as on Jul. 31, 2015, up from 2.83 on Jul. 31, 2014.
Days sales outstanding were almost stable at 44 days for the year, when compared with the last year period.
Days inventory outstanding has decreased to 41 days for the year compared with 43 days for the previous year period.
Debt comes down
Oil-Dri Corp. of America has recorded a decline in total debt over the last one year. It stood at $18.90 million as on Jul. 31, 2015, down 15.63 percent or $3.50 million from $22.40 million on Jul. 31, 2014. Total debt was 9.95 percent of total assets as on Jul. 31, 2015, compared with 12.03 percent on Jul. 31, 2014. Debt to equity ratio was at 0.17 as on Jul. 31, 2015, down from 0.21 as on Jul. 31, 2014. Interest coverage ratio improved to 11.42 for the year from 7.91 for the same period last year. 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]
