Revenue during the quarter went down marginally by 0.49 percent to $244.18 million from $245.40 million in the previous year period. Gross margin for the quarter contracted 410 basis points over the previous year period to 16.07 percent. Operating margin for the quarter stood at negative 9.65 percent as compared to a negative 1.51 percent for the previous year period.

Operating loss for the quarter was $23.56 million, compared with an operating loss of $3.70 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $12.57 million compared with $21.64 million in the prior year period. At the same time, adjusted EBITDA margin contracted 367 basis points in the quarter to 5.15 percent from 8.82 percent in the last year period.

Joe Chlapaty, Chairman and Chief Executive Officer of ADS commented, “In light of the challenging market environment, we were pleased with our overall performance during fiscal 2017. We continued our long track record of market conversion in our core construction markets, with sales in both non-residential and new residential construction growing 300 basis points above their respective markets. We also generated Adjusted EBITDA of over $193 million, within our updated guidance range, and had another strong year of favorable cash flow generation.”

For fiscal year 2018. Advanced Drainage Systems, Inc. expects revenue to be in the range of $1,275 million to $1,325 million.

Debt moves up marginally
Advanced Drainage Systems, Inc has witnessed an increase in total debt over the last one year. It stood at $428.80 million as on Mar. 31, 2017, up 1.10 percent or $4.67 million from $424.12 million on Mar. 31, 2016.