American Woodmark Corporation (AMWD) has reported a 29.73 percent rise in profit for the quarter ended Apr. 30, 2017. The company has earned $17.35 million, or $1.06 a share in the quarter, compared with $13.37 million, or $0.81 a share for the same period last year.
Revenue during the quarter grew 7.39 percent to $258.74 million from $240.92 million in the previous year period. Gross margin for the quarter expanded 197 basis points over the previous year period to 22.25 percent. Total expenses were 89.80 percent of quarterly revenues, down from 90.80 percent for the same period last year. This has led to an improvement of 100 basis points in operating margin to 10.20 percent.
Operating income for the quarter was $26.38 million, compared with $22.16 million in the previous year period.
Operating cash flow improves marginally
American Woodmark Corporation has generated cash of $77.08 million from operating activities during the year, up 3.32 percent or $2.48 million, when compared with the last year.
The company has spent $53.74 million cash to meet investing activities during the year as against cash outgo of $40.77 million in the last year.
The company has spent $20.82 million cash to carry out financing activities during the year as against cash outgo of $8.91 million in the last year period.
Cash and cash equivalents stood at $176.98 million as on Apr. 30, 2017, up 1.44 percent or $2.52 million from $174.46 million on Apr. 30, 2016.
Debt comes down significantly
American Woodmark Corporation has recorded a decline in total debt over the last one year. It stood at $16.88 million as on Apr. 30, 2017, down 28.85 percent or $6.84 million from $23.72 million on Apr. 30, 2016.
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