Berry Plastics Group, Inc. (BERY) has reported a 60.42 percent jump in profit for the quarter ended Oct. 01, 2016. The company has earned $77 million, or $0.61 a share in the quarter, compared with $48 million, or $0.39 a share for the same period last year. On an adjusted basis, earnings per share were at $0.73 for the quarter compared with $0.50 in the same period last year.
Revenue during the quarter surged 35.28 percent to $1,618 million from $1,196 million in the previous year period. Gross margin for the quarter expanded 12 basis points over the previous year period to 18.60 percent. Total expenses were 90.67 percent of quarterly revenues, down from 91.05 percent for the same period last year. This has led to an improvement of 39 basis points in operating margin to 9.33 percent.
Operating income for the quarter was $151 million, compared with $107 million in the previous year period.
However, the adjusted operating income for the quarter stood at $174 million compared to $126 million in the prior year period. At the same time, adjusted operating margin improved 22 basis points in the quarter to 10.75 percent from 10.54 percent in the last year period.
Operating cash flow improves significantly
Berry Plastics Group, Inc. has generated cash of $857 million from operating activities during the year, up 34.54 percent or $220 million, when compared with the last year.
The company has spent $2,579 million cash to meet investing activities during the year as against cash outgo of $165 million in the last year. It has incurred net capital expenditure of $283 million on net basis during the year, up 74.69 percent or $121 million from year ago.
Cash flow from financing activities was $1,817 million for the year as against cash outgo of $365 million in the last year period.
Cash and cash equivalents stood at $323 million as on Oct. 01, 2016, up 41.67 percent or $95 million from $228 million on Sep. 26, 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
