Synalloy (SYNL) Reports Q4 EPS of $0.23 on Revenues of $51.511M

Synalloy (NASDAQ: SYNL) reported Q4 EPS of $0.23. Revenue for the quarter came in at $51.51 million.

The Company’s performance utilizing its two standard non-GAAP financial measures, Adjusted Net Income and Adjusted EBITDA, (as defined below), was as follows:

• Adjusted Net Income for the second quarter of 2017 was $2.0 million, or $0.23 per share, compared to $36,000, or $0.00 per share for the second quarter of 2016. For the first six months of 2017, Adjusted Net Income was $2.2 million, or $0.25 per share, compared to $0.3 million, or $0.03 per share for the first six months of 2016.
• Adjusted EBITDA for the second quarter of 2017 was $5.5 million, 10.6% of sales, compared to $2.2 million, 6.3% of sales, for the second quarter of 2016. For the first six months of 2017, Adjusted EBITDA was $7.6 million, 8.1% of sales, compared to $4.8 million, 6.8% of sales, for the first six months of 2016.

"The company's financial performance in the second quarter exceeded our expectations," said Craig Bram, President and CEO. "Adjusted Net Income in the second quarter was $1.8 million greater than the first quarter and Adjusted EBITDA increased by $3.3 million over the first quarter. Adjusted EBITDA in the second quarter alone was equal to Adjusted EBITDA for all of 2016."

"Company-wide EBITDA for the first six months of 2017, excluding acquisition costs, which is now used as the basis for our Asset Based Lending ("ABL") facility covenant compliance, totaled $7.4 million, up 644% from the prior year’s total of $1.0 million."

For earnings history and earnings-related data on Synalloy (SYNL) click here.

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