NCI Building Systems, Inc. (NCS) has reported 3.23 percent rise in profit for the quarter ended Oct. 30, 2016. The company has earned $19 million, or $0.27 a share in the quarter, compared with $18.41 million, or $0.25 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $19.79 million, or $0.28 a share compared with $22.66 million or $0.31 a share, a year ago.

Revenue during the quarter grew 4.45 percent to $480.31 million from $459.83 million in the previous year period. Gross margin for the quarter contracted 172 basis points over the previous year period to 25.16 percent. Total expenses were 91.80 percent of quarterly revenues, down from 92.06 percent for the same period last year. This has led to an improvement of 26 basis points in operating margin to 8.20 percent.

Operating income for the quarter was $39.39 million, compared with $36.50 million in the previous year period.

However, the adjusted operating income for the quarter stood at $40.86 million compared to $43.83 million in the prior year period. At the same time, adjusted operating margin contracted 103 basis points in the quarter to 8.51 percent from 9.53 percent in the last year period.
 

Norman C. Chambers, chairman and chief executive officer, commented, "We are very pleased that fiscal 2016 delivered revenue, gross margins and Adjusted EBITDA growth. NCI's performance was the direct result of the strategic realignment of our commercial, manufacturing and supply chain groups that improved operating leverage across the company. During fiscal 2016, we also completed the integration of our insulated metal panels (IMP) businesses, and we were able to generate double-digit growth and higher margin opportunities in our IMP product portfolio. In addition, we have remained prudent stewards of our capital by utilizing free cash flow to pay down debt and buy back our common stock."
 

For the first-quarter, Nci Building Systems forecasts revenue to be in the range of $1,750 million to $1,850 million.

The company has spent $9.95 million cash to meet investing activities during the year as against cash outgo of $267.78 million in the last year. It has incurred net capital expenditure of $15.61 million on net basis during the year, down 24.44 percent or $5.05 million from year ago.

The company has spent $91.52 million cash to carry out financing activities during the year as against cash inflow of $196 million in the last year period.

Cash and cash equivalents stood at $65.40 million as on Oct. 30, 2016, down 34.38 percent or $34.26 million from $99.66 million on Nov. 01, 2015.
 

Working capital increases marginally
Nci Building Systems has recorded an increase in the working capital over the last year. It stood at $180.64 million as at Oct. 30, 2016, up 3.38 percent or $5.91 million from $174.72 million on Nov. 01, 2015. Current ratio was at 1.56 as on Oct. 30, 2016, up from 1.54 on Nov. 01, 2015.