AEP Industries (AEPI) Swings to Q1 Profit

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AEP Industries Inc. Reports Fiscal 2015 First Quarter Results

March 12, 2015 8:01 AM EDT

MONTVALE, N.J., March 12, 2015 /PRNewswire/ -- AEP Industries Inc. (Nasdaq: AEPI, the "Company" or "AEP") today reported financial results for its first quarter ended January 31, 2015.

Net sales for the first quarter of fiscal 2015 increased $2.9 million, or 1%, to $275.4 million from $272.5 million for the first quarter of fiscal 2014. The increase was the result of a 4% increase in average selling prices partially offset by a 2.5% decrease in sales volume compared to the same period in the prior fiscal year.

Gross profit for first quarter of fiscal 2015 was $32.6 million, an increase of $8.0 million, or 32%, compared to the... More