Revenue during the quarter went up marginally by 1.98 percent to $335 million from $328.50 million in the previous year period. Gross margin for the quarter expanded 59 basis points over the previous year period to 30.12 percent. Operating margin for the quarter stood at negative 3.55 percent as compared to a negative 1.95 percent for the previous year period.

Operating loss for the quarter was $11.90 million, compared with an operating loss of $6.40 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1.20 million compared with $4.50 million in the prior year period. At the same time, adjusted EBITDA margin contracted 101 basis points in the quarter to 0.36 percent from 1.37 percent in the last year period.

"We are off to a good start in 2017 with positive growth in net sales and continued expansion of our gross margin. We were quite pleased with these results against a challenging comparison to the first quarter of last year when we experienced a very early spring which pulled forward significant sales from the second quarter and resulted in outsized growth. This year the weather returned to more normal seasonal patterns," said Doug Black, SiteOne’s Chief Executive Officer. "We continue to see good market demand as we execute on our strategic and operational initiatives and as we accelerate our acquisition activity with the addition of four strong companies. Overall, we remain confident in our outlook for the full year."

The company has spent $59 million cash to meet investing activities during the quarter as against cash outgo of $33 million in the last year period.

Cash flow from financing activities was $113.30 million for the quarter, up 386.27 percent or $90 million, when compared with the last year period.

Cash and cash equivalents stood at $15.90 million as on Apr. 02, 2017, down 22.44 percent or $4.60 million from $20.50 million on Apr. 03, 2016.

Working capital increases
SiteOne Landscape Supply, Inc. has recorded an increase in the working capital over the last year. It stood at $369.20 million as at Apr. 02, 2017, up 19.29 percent or $59.70 million from $309.50 million on Apr. 03, 2016. Current ratio was at 2.40 as on Apr. 02, 2017, up from 2.24 on Apr. 03, 2016.

Cash conversion cycle (CCC) has increased to 66 days for the quarter from 53 days for the last year period. Days sales outstanding were almost stable at 28 days for the quarter, when compared with the last year period.

Days inventory outstanding has increased to 76 days for the quarter compared with 64 days for the previous year period. At the same time, days payable outstanding was almost stable at 38 days for the quarter, when compared with the previous year period.