Multi Color Corporation (LABL) has reported an 101.79 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $16.72 million, or $0.98 a share in the quarter, compared with $8.29 million, or $0.49 a share for the same period last year. Revenue during the quarter grew 7.45 percent to $244 million from $227.09 million in the previous year period. Gross margin for the quarter expanded 79 basis points over the previous year period to 21.94 percent. Total expenses were 87.25 percent of quarterly revenues, down from 90 percent for the same period last year. This has led to an improvement of 275 basis points in operating margin to 12.75 percent.
Operating income for the quarter was $31.11 million, compared with $22.72 million in the previous year period.
However, the adjusted core operating income for the quarter stood at $31.93 million compared to $26.45 million in the prior year period. At the same time, adjusted core operating margin improved 144 basis points in the quarter to 13.09 percent from 11.65 percent in the last year period.
"Fiscal 2017 core EPS increased $0.39 compared to the prior year, consistent with stated expectations of $0.40 per annum. Fiscal 2018 provides further organic revenue growth opportunities in the 3-5% range and increased acquisitions revenue opportunities with our lowest leverage in over five years," said Nigel Vinecombe, executive chairman of Multi-Color Corporation.
Working capital decreases marginally
Multi Color Corporation has witnessed a decline in the working capital over the last year. It stood at $109.42 million as at Mar. 31, 2017, down 2.97 percent or $3.34 million from $112.76 million on Mar. 31, 2016. Current ratio was at 1.76 as on Mar. 31, 2017, down from 1.82 on Mar. 31, 2016.
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