Globe Specialty Metals (GSM) Misses Q1 EPS by 4c

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Globe Specialty Metals Reports Higher Earnings, Continued Cost Savings and Positive Cash Position in the First Quarter

November 5, 2015 6:42 PM EST

Reported net income attributed to GSM increased to $6.0 million in the first quarter fiscal 2016 compared to $1.9 million for the fourth quarter fiscal 2015. Adjusted net income decreased 31% to $8.0 million. Reported diluted earnings per share increased to $0.08 in the first quarter compared to $0.03 for the fourth quarter fiscal 2015. Adjusted diluted EPS decreased 31% to $0.11. EBITDA increased 21% to $24.1 million in Q1 compared to Q4. Adjusted EBITDA decreased 22% to $25.8 million. EBITDA margin in the first quarter increased by 4% to 13.8% from 9.8% in the fourth quarter. Adjusted EBITDA margin decreased by 1.5% to 14.8%. Sales volume of 63,807 MT and net sales of $174.8... More