American Woodmark Corporation (AMWD) has reported a 2.99 percent fall in profit for the quarter ended Oct. 31, 2016. The company has earned $17.64 million, or $1.07 a share in the quarter, compared with $18.18 million, or $1.10 a share for the same period last year.
Revenue during the quarter grew 3.04 percent to $264.08 million from $256.29 million in the previous year period. Gross margin for the quarter contracted 61 basis points over the previous year period to 21.26 percent. Total expenses were 89.27 percent of quarterly revenues, up from 88.87 percent for the same period last year. That has resulted in a contraction of 41 basis points in operating margin to 10.73 percent.
Operating income for the quarter was $28.33 million, compared with $28.54 million in the previous year period.
Operating cash flow falls marginally
American Woodmark Corporation has generated cash of $40.15 million from operating activities during the first half, down 4.39 percent or $1.84 million, when compared with the last year period.
The company has spent $50.42 million cash to meet investing activities during the first six months as against cash outgo of $25.80 million in the last year period.
The company has spent $8.55 million cash to carry out financing activities during the first six months as against cash outgo of $0.76 million in the last year period.
Cash and cash equivalents stood at stood at $155.64 million as at Oct. 31, 2016.
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