SiteOne Landscape Supply, Inc. (SITE) saw its loss narrow to $5.60 million, or $0.14 a share for the quarter ended Jan. 01, 2017. In the previous year period, the company reported a loss of $5.90 million, or $1.39 a share.

Revenue during the quarter grew 6.47 percent to $361.80 million from $339.80 million in the previous year period. Gross margin for the quarter expanded 12 basis points over the previous year period to 30.90 percent. Operating margin for the quarter stood at negative 0.83 percent as compared to a negative 1.44 percent for the previous year period.

Operating loss for the quarter was $3 million, compared with an operating loss of $4.90 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $11.20 million compared with $11.90 million in the prior year period. At the same time, adjusted EBITDA margin contracted 41 basis points in the quarter to 3.10 percent from 3.50 percent in the last year period.  

"We are very pleased with the performance and growth that we delivered to finish 2016, despite a difficult comparison to the fourth quarter of 2015. Overall, during our first year as a public company, we built a significant foundation for the future while achieving double digit net sales growth, solid expansion of our gross margin and Adjusted EBITDA margin, excellent Adjusted EBITDA growth and strong cash flow," said Doug Black, SiteOne chief executive officer. "We are off to a good start for 2017 as our market drivers remain healthy, our organic growth initiatives gain momentum and our acquisition efforts continue with four transactions completed so far this year. We are still in the early innings of our development as a company and we remain excited about the long-term opportunity for SiteOne to create significant value for all of our stakeholders."

The company has spent $74.90 million cash to meet investing activities during the year as against cash outgo of $111 million in the last year. It has incurred net capital expenditure of $8.50 million on net basis during the year, down 17.48 percent or $1.80 million from year ago.

The company has spent $1.80 million cash to carry out financing activities during the year as against cash inflow of $49.70 million in the last year period.

Cash and cash equivalents stood at $16.30 million as on Jan. 01, 2017, down 18.91 percent or $3.80 million from $20.10 million on Jan. 03, 2016.

Debt increases substantially
SiteOne Landscape Supply has witnessed an increase in total debt over the last one year. It stood at $386.50 million as on Jan. 01, 2017, up 104.71 percent or $197.70 million from $188.80 million on Jan. 03, 2016.