Revenue during the quarter went up marginally by 0.54 percent to $988 million from $982.70 million in the previous year period. Gross margin for the quarter expanded 16 basis points over the previous year period to 21.82 percent. Total expenses were 89.40 percent of quarterly revenues, down from 90.11 percent for the same period last year. This has led to an improvement of 71 basis points in operating margin to 10.60 percent.

Operating income for the quarter was $104.70 million, compared with $97.20 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $149.20 million compared with $139.40 million in the prior year period. At the same time, adjusted EBITDA margin improved 92 basis points in the quarter to 15.10 percent from 14.19 percent in the last year period.

“We grew earnings by 8 percent on a currency neutral basis in 2016,” said William F. Austen, Bemis Company's president and chief executive officer. “We made progress as we continued to recapitalize our converting equipment and leverage our product technology globally. We completed the acquisition of SteriPack and also initiated a restructuring program in Latin America following the Emplal acquisition.” Austen continued, “As we begin 2017, our primary focus is on promoting the growth and success of our customers and on executing well - in our operations, in our strategic business projects, and in all areas of our business. Around the globe, we are focused on delivering our financial plans and on continuously developing a strong foundation for the long-term success of Bemis.”

For financial year 2017, the company forecasts diluted earnings per share to be in the range of $2.85 to $3 on adjusted basis.

The company has spent $311.20 million cash to meet investing activities during the year as against cash outgo of $262.60 million in the last year. It has incurred net capital expenditure of $196.70 million on net basis during the year, down 6.24 percent or $13.10 million from year ago.

The company has spent $110.40 million cash to carry out financing activities during the year as against cash outgo of $265.30 million in the last year period.

Cash and cash equivalents stood at $74.20 million as on Dec. 31, 2016, up 25.34 percent or $15 million from $59.20 million on Dec. 31, 2015.

Working capital increases
Bemis Company Inc has recorded an increase in the working capital over the last year. It stood at $589.40 million as at Dec. 31, 2016, up 11.23 percent or $59.50 million from $529.90 million on Dec. 31, 2015. Current ratio was at 2.02 as on Dec. 31, 2016, up from 1.90 on Dec. 31, 2015.

Cash conversion cycle (CCC) was almost stable at 32 days for the quarter, when compared with the last year period. Days sales outstanding were almost stable at 22 days for the quarter, when compared with the last year period.

Days inventory outstanding has increased to 33 days for the quarter compared with 31 days for the previous year period. At the same time, days payable outstanding went up to 23 days for the quarter from 20 for the same period last year.