Multi Color Corporation (LABL) has reported 1.37 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $16.34 million, or $0.96 a share in the quarter, compared with $16.57 million, or $0.98 a share for the same period last year.
Revenue during the quarter grew 5.62 percent to $232.14 million from $219.78 million in the previous year period. Gross margin for the quarter expanded 7 basis points over the previous year period to 21.52 percent. Total expenses were 87.01 percent of quarterly revenues, down from 87.15 percent for the same period last year. This has led to an improvement of 14 basis points in operating margin to 12.99 percent.
Operating income for the quarter was $30.16 million, compared with $28.25 million in the previous year period.
However, the adjusted operating income for the quarter stood at $30.63 million compared to $29.31 million in the prior year period. At the same time, adjusted operating margin contracted 14 basis points in the quarter to 13.20 percent from 13.33 percent in the last year period.
"The first half core EPS growth of $0.09 or 5% year on year is in line with stated expectations and the second half comparisons are still expected to be easier," said Nigel Vinecombe, Executive Chairman of Multi-Color Corporation.
Working capital increases marginallyMulti Color Corporation has recorded an increase in the working capital over the last year. It stood at $127.13 million as at Sep. 30, 2016, up 1.56 percent or $1.95 million from $125.18 million on Sep. 30, 2015. Current ratio was at 2.06 as on Sep. 30, 2016, up from 2 on Sep. 30, 2015. Days sales outstanding went down to 26 days for the quarter compared with 55 days for the same period last year.
Debt comes downMulti Color Corporation has recorded a decline in total debt over the last one year. It stood at $492.34 million as on Sep. 30, 2016, down 5.72 percent or $29.90 million from $522.24 million on Sep. 30, 2015. Total debt was 46.12 percent of total assets as on Sep. 30, 2016, compared with 50.43 percent on Sep. 30, 2015. Debt to equity ratio was at 1.35 as on Sep. 30, 2016, down from 1.69 as on Sep. 30, 2015. Interest coverage ratio improved to 4.63 for the quarter from 4.27 for the same period last year. 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
