Select Interior Concepts (SIC) Reports Q2 EPS of $0.00 on Revenues of $124.9M

Select Interior Concepts (NASDAQ: SIC) reported Q2 EPS of $0.00, versus $0.23 reported last year. Revenue for the quarter came in at $124.9 million.

"We are pleased about the continued organic growth of our Company and the integration of two recently completed acquisitions. Our performance during the second quarter demonstrates execution towards our strategic goals," stated Tyrone Johnson, Chief Executive Officer of Select Interior Concepts. "We reported strong quarter over quarter performance, as our Net Sales for the second quarter of 2018 grew 38.2% to $124.9 million. Our gross profit rose in both our Residential Design Services and Architectural Surfaces Group operating segments, and on a combined basis, increased 29.8% to $34.4 million. Adjusted EBITDA rose to $13.8 million," Mr. Johnson added.

"We remain committed to our diversification of product, channel and geography strategies," added Mr. Johnson. "In addition, we continue to build an acquisition pipeline of investment opportunities that will further enhance our Company\'s value. Subsequent to the end of our second quarter 2018, we acquired Las Vegas-based Tuscany Collection and Austin-based Summit Stoneworks."

"Driving our plan is a strong leadership team that will continue to provide guidance and support in achieving our long-term goals. We recently announced the hiring of Nadeem Moiz as our Chief Financial Officer. We believe that Mr. Moiz will be a great addition to our management team, and will provide the leadership and experience necessary to help execute our growth strategies," concluded Mr. Johnson. "We are also happy to note that Kendall Hoyd has been named the President—RDS of our Company."

For earnings history and earnings-related data on Select Interior Concepts (SIC) click here.

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