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

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

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