SpartanNash Company (SPTN) has reported 52.52 percent jump in profit for the quarter ended Apr. 22, 2017. The company has earned $15.02 million, or $0.40 a share in the quarter, compared with $9.85 million, or $0.26 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $20.66 million, or $0.55 a share compared with $20.41 million or $0.54 a share, a year ago.

Revenue during the quarter grew 5.43 percent to $2,402.50 million from $2,278.77 million in the previous year period. Gross margin for the quarter expanded 21 basis points over the previous year period to 14.88 percent. Total expenses were 98.77 percent of quarterly revenues, down from 99.05 percent for the same period last year. This has led to an improvement of 28 basis points in operating margin to 1.23 percent.

Operating income for the quarter was $29.64 million, compared with $21.66 million in the previous year period.

However, the adjusted operating income for the quarter was almost stable at $38.60 million when compared with the prior year period. At the same time, adjusted operating margin contracted 8 basis points in the quarter to 1.61 percent from 1.69 percent in the last year period.

"Our solid first quarter performance reflects the successful implementation and execution of our strategy to deliver growth in a challenging environment," said David M. Staples, president and chief executive officer. "Despite the ongoing impact of deflation and higher health care costs, we delivered positive results in food distribution as we continue to leverage our network to grow sales."

For financial year 2017, the company forecasts diluted earnings per share to be in the range of $1.99 to $2.08. The company forecasts diluted earnings per share to be in the range of $2.26 to $2.35 on adjusted basis.

The company has spent $232.89 million cash to meet investing activities during the quarter as against cash outgo of $12.93 million in the last year period.

Cash flow from financing activities was $238.30 million for the quarter, up 2,524.13 percent or $229.22 million, when compared with the last year period.

Cash and cash equivalents stood at $19.52 million as on Apr. 22, 2017, down 31.97 percent or $9.17 million from $28.69 million on Apr. 23, 2016.

Debt increases substantially
SpartanNash Company has witnessed an increase in total debt over the last one year. It stood at $675.66 million as on Apr. 22, 2017, up 31.15 percent or $160.47 million from $515.20 million on Apr. 23, 2016. Interest coverage ratio improved to 4.05 for the quarter from 3.72 for the same period last year.