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29.12.2017 22:30:00
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Buhler Industries Reports 2017 Year End Earnings
(TSX:BUI)
WINNIPEG, Dec. 29, 2017/CNW/ -
Revenue
Revenue for the year was $312.0 million, up $37.9 million from 2016. Orders in North America have returned to near historical levels, with the Company seeing an increase in sales to the United States. Sales to Eastern Europe have remained steady.
Year ending September 30, 2017 | Year Ago | |
Revenue (millions) | $312.0 | $274.1 |
Net income (loss) (millions) | $0.5 | ($2.7) |
Net income (loss)/share | $0.02 | ($0.11) |
Shares issued (millions) | 25.0 | 25.0 |
Net Earnings Up for the Year
The net income for the year was $0.5 million, an improvement of $3.2 million compared to the $2.7 million loss in the prior year. An increase in sales and the resulting margin was the main contributor to the improvement, offset by lower gains on the sale of surplus assets, increased spending on research and development, interest expense and a loss on foreign exchange.
Looking Forward
Sales for 2018 are expected to increase over 2017 results. Demand for agricultural equipment in the United States is slowly increasing as farmers adjust to depressed commodity prices. Canadian sales are expected to remain steady and profit margins overall are expected to improve.
Complete financial statement: http://www.buhlerindustries.com/investors/reports/buhler-2017-q4.pdf
Trading symbol: BUI
SOURCE Buhler Industries Inc.
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