Chase Corporation (CCF) has reported 39.12 percent jump in profit for the quarter ended Nov. 30, 2016. The company has earned $10.36 million, or $1.10 a share in the quarter, compared with $7.45 million, or $0.80 a share for the same period last year. Revenue during the quarter grew 6.75 percent to $61.36 million from $57.48 million in the previous year period. Gross margin for the quarter expanded 289 basis points over the previous year period to 42.49 percent. Total expenses were 77.66 percent of quarterly revenues, down from 81.06 percent for the same period last year. This has led to an improvement of 340 basis points in operating margin to 22.34 percent.
Operating income for the quarter was $13.70 million, compared with $10.89 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $18.42 million compared with $14.61 million in the prior year period. At the same time, adjusted EBITDA margin improved 460 basis points in the quarter to 30.01 percent from 25.42 percent in the last year period.
Adam P. Chase, President and Chief Executive Officer, commented, “Resin Designs, acquired in the current quarter, delivered immediate and meaningful top-line growth, and was accretive to earnings after excluding one-time acquisition-related deal costs and inventory step-up charges incurred in the quarter. While still early, we remain optimistic of the opportunities and growth potential afforded us through this acquisition.
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