Q: Your thoughts on recent earnings and future prospects please.
5i Research Answer:
EPS of 92c beat estimates of 57c. Revenue of $558.6M were 4% short of estimates. EBITDA of $51.8M was 11% better than forecast. EPS fell sharply year over year. The dividend was raised by 8%. Debt was reduced by ~$50M. Sales fell 15% from a very big quarter last year. But the company was able to manage costs well. Debt is still on the high side but is now just under 2X cash flow. We would consider these good results in a tougher environment.