Minerals Technologies Inc. (MTX) has reported a 2.06 percent rise in profit for the quarter ended Apr. 02, 2017. The company has earned $34.60 million, or $0.97 a share in the quarter, compared with $33.90 million, or $0.97 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $38.10 million, or $1.07 a share compared with $35.50 million or $1.02 a share, a year ago.

Revenue during the quarter went down marginally by 1.27 percent to $405 million from $410.20 million in the previous year period. Gross margin for the quarter expanded 60 basis points over the previous year period to 28.07 percent. Total expenses were 84.77 percent of quarterly revenues, down from 85.96 percent for the same period last year. This has led to an improvement of 119 basis points in operating margin to 15.23 percent.

Operating income for the quarter was $61.70 million, compared with $57.60 million in the previous year period.

"We had a solid first quarter. All of our businesses performed well and we continued to expand the Company's operating margins," said Douglas T. Dietrich, chief executive officer. "We saw significant growth across all of our businesses in China this quarter and continue to grow our PCC business throughout Asia with the signing of an agreement for an additional 165,000 tons in Indonesia," said Mr. Dietrich.

Cash conversion cycle (CCC) has increased to 96 days for the quarter from 94 days for the last year period. Days sales outstanding were almost stable at 82 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 61 days for the quarter compared with 62 days for the previous year period. At the same time, days payable outstanding went down to 46 days for the quarter from 49 for the same period last year.