NCI Building Systems (NCS) Tops Q2 EPS by 2c
NCI Building Systems (NYSE: NCS) reported Q2 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $372.2 million versus the consensus estimate of $364.22 million.
Cash and cash equivalents at quarter's end was $77.9 million compared to $25.3 million at the comparable period in fiscal 2015 and sequentially was $73.8 million at the end of the first quarter of fiscal 2016. The Company paid down an additional $10 million under its term loan in the second quarter of fiscal 2016, and expects to make total debt repayments of $40 million during the current fiscal year. NCI's net debt leverage ratio at the end of the second fiscal quarter improved to 2.3x, moving closer to the pre- CENTRIA acquisition net leverage of 2.2x. In addition, the Company's $150.0 million asset based lending facility remained undrawn as of May 1, 2016.
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