Revenue during the quarter surged 45.92 percent to $234.64 million from $160.80 million in the previous year period. Gross margin for the quarter expanded 204 basis points over the previous year period to 29.23 percent. Total expenses were 94.99 percent of quarterly revenues, up from 93.61 percent for the same period last year. That has resulted in a contraction of 139 basis points in operating margin to 5.01 percent.

Operating income for the quarter was $11.74 million, compared with $10.28 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $25.80 million compared with $19.05 million in the prior year period. At the same time, adjusted EBITDA margin contracted 85 basis points in the quarter to 11 percent from 11.85 percent in the last year period.

"Results for our first quarter reflected contributions from the prior year's acquisitions, including cost savings from the successful integration of new operations, as we implement the Steel Business System and invest in facilities and new products for future growth," said Bill Fejes, president and chief executive officer of Handy & Harman Group Ltd. "We have expanded our customer base, further enhanced our brand offerings and are continuing to focus on creating value for our stockholders."

For the second-quarter, Handy & Harman forecasts revenue to be in the range of $224 million to $274 million. Handy & Harman forecasts revenue to be in the range of $896 million to $1,043 million for fiscal year 2017.