DMC Global (BOOM) Misses Q1 EPS by 5c

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Go back to DMC Global (BOOM) Misses Q1 EPS by 5c

DMC Global Reports First Quarter Financial Results

April 23, 2020 4:05 PM EDT

Consolidated first quarter sales were $73.6 million, down 15% sequentially and down 27% from Q1 2019 as the COVID-19 pandemic drove a sharp decline in oil and gas demand and well completion activityGross margin was 33%, down from 35% in Q4 2019 and 36% in Q1 2019Operating income decreased to $6.3 million from $20.5 million in Q1 2019Net income was $4.2 million, or $0.28 per diluted share; while adjusted net income* was $5.3 million, or $0.35 per diluted shareAdjusted EBITDA* of $11.3 million was down 36% sequentially and down 53% versus Q1 2019Net cash* (cash and cash equivalents less total debt) at March 31, 2020, was $2.9 million$2.3 million additional allowance... More