Compx International (CIX) has reported 40.91 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $3.10 million, or $0.25 a share in the quarter, compared with $2.20 million, or $0.18 a share for the same period last year.     

Revenue during the quarter grew 10.33 percent to $29.90 million from $27.10 million in the previous year period. Gross margin for the quarter expanded 218 basis points over the previous year period to 32.44 percent. Total expenses were 84.95 percent of quarterly revenues, down from 87.45 percent for the same period last year. This has led to an improvement of 250 basis points in operating margin to 15.05 percent.

Operating income for the quarter was $4.50 million, compared with $3.40 million in the previous year period.

"The first quarter featured solid sales performances in both the Security Products and Marine Components segments," commented David A. Bowers, chief executive officer, "including exceptional demand for government security applications. We continue to benefit from innovation and diversification in our product offerings, particularly with respect to the recreational boat markets served by our growing Marine Components segment. We believe that continuous development of new product features companywide will broaden our sales base and help mitigate the impact of general market fluctuations."

Days sales outstanding went down to 33 days for the quarter compared with 35 days for the same period last year.

Days inventory outstanding has decreased to 34 days for the quarter compared with 71 days for the previous year period.