Badger Meter, Inc. (BMI) has reported 11.49 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $6.11 million, or $0.21 a share in the quarter, compared with $5.48 million, or $0.19 a share for the same period last year. Revenue during the quarter went down marginally by 2.79 percent to $93.10 million from $95.77 million in the previous year period. Gross margin for the quarter expanded 3 basis points over the previous year period to 36.01 percent. Total expenses were 90.23 percent of quarterly revenues, up from 90.07 percent for the same period last year. That has resulted in a contraction of 16 basis points in operating margin to 9.77 percent.
Operating income for the quarter was $9.10 million, compared with $9.51 million in the previous year period.
"The fourth quarter of 2016 capped off a record year for net sales and earnings. Strong municipal water domestic sales helped to offset lower international sales, which tend to be sporadic, as well as continued weakness in key flow instrumentation markets including oil and gas. The gross margin for the quarter was 36%, consistent with last year. Selling, engineering and administration expenses were down slightly as we controlled costs related particularly to flow instrumentation, while continuing to invest in innovation,” said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter.
Working capital increases sharplyBadger Meter, Inc. has recorded an increase in the working capital over the last year. It stood at $75.17 million as at Dec. 31, 2016, up 67.86 percent or $30.39 million from $44.78 million on Dec. 31, 2015. Current ratio was at 1.99 as on Dec. 31, 2016, up from 1.43 on Dec. 31, 2015.
Debt comes down significantly
Badger Meter, Inc. has recorded a decline in total debt over the last one year. It stood at $37.95 million as on Dec. 31, 2016, down 46.82 percent or $33.41 million from $71.36 million on Dec. 31, 2015. Badger Meter has recorded a decline in short-term debt over the last one year. Total debt was 10.84 percent of total assets as on Dec. 31, 2016, compared with 20.07 percent on Dec. 31, 2015. Debt to equity ratio was at 0.15 as on Dec. 31, 2016, down from 0.31 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
