BMC Stock Holdings, Inc. (BMCH) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $10.42 million, or $ 0.16 a share in the quarter, against a net loss of $7.44 million, or $0.16 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $14.27 million, or $0.21 a share compared with $11.36 million or $0.17 a share, a year ago.
Revenue during the quarter surged 46.54 percent to $747.57 million from $510.16 million in the previous year period. Gross margin for the quarter expanded 187 basis points over the previous year period to 24.18 percent. Operating margin for the quarter period stood at positive 2.73 percent as compared to a negative 2.59 percent for the previous year period.
Operating income for the quarter was $20.39 million, compared with an operating loss of $13.19 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $44.45 million compared with $37.82 million in the prior year period. At the same time, adjusted EBITDA margin contracted 147 basis points in the quarter to 5.95 percent from 7.41 percent in the last year period.
Commenting on the Company's 2016 performance, Peter Alexander, president and chief executive officer of BMC stated, "Our Merger, which we completed a little more than a year ago, unlocked numerous opportunities to expand the business and improve profitability. During 2016, we achieved strong operational and financial results including significant gains in operating margins and cash generation. Net sales in 2016 increased 96% as compared to the prior year, and 10.5% when compared to 2015 Adjusted net sales. Net income in 2016 increased to $30.9 million while Adjusted EBITDA margins expanded 170 basis points as compared to 2015."
Operating cash flow improves significantly
BMC Stock Holdings, Inc. has generated cash of $106.89 million from operating activities during the year, up 14,286 percent or $106.15 million, when compared with the last year.
The company has spent $33.73 million cash to meet investing activities during the year as against cash outgo of $135.08 million in the last year. It has incurred net capital expenditure of $34.88 million on net basis during the year, up 24.40 percent or $6.84 million from year ago.
The company has spent $65.33 million cash to carry out financing activities during the year as against cash inflow of $72.16 million in the last year period.
Cash and cash equivalents stood at $8.92 million as on Dec. 31, 2016, up 718.82 percent or $7.83 million from $1.09 million on Dec. 31, 2015.
Working capital increases
BMC Stock Holdings, Inc. has recorded an increase in the working capital over the last year. It stood at $364.13 million as at Dec. 31, 2016, up 8.48 percent or $28.48 million from $335.65 million on Dec. 31, 2015. Current ratio was at 2.20 as on Dec. 31, 2016, down from 2.21 on Dec. 31, 2015.
Debt comes down
BMC Stock Holdings, Inc. has recorded a decline in total debt over the last one year. It stood at $376.56 million as on Dec. 31, 2016, down 11.78 percent or $50.28 million from $426.84 million on Dec. 31, 2015. Total debt was 26.99 percent of total assets as on Dec. 31, 2016, compared with 31.02 percent on Dec. 31, 2015. Debt to equity ratio was at 0.55 as on Dec. 31, 2016, down from 0.68 as on Dec. 31, 2015.
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