Luxfer Reports Fourth-quarter Results

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Luxfer Fourth-quarter 2016 Report

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SALFORD, England--()--Luxfer Group (NYSE:LXFR), a global materials technology company, today issued its unaudited financial results for the three-month and twelve-month periods ended December 31, 2016. To access a PDF of the complete fourth-quarter 2016 report, click here. The same document is also available at www.luxfer.com.

UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER OF 2016

Results are summarized as follows:

  Three-month periods

ended December 31,

  Twelve-month periods

ended December 31,

    2016   2015   2016   2015
Revenue   $96.1m   $107.4m   $414.8m   $460.3m
Trading profit $5.2m   $9.5m $35.3m   $42.3m

Trading margin

5.4%

8.8%

8.5%

9.2%

Operating profit   $5.3m   $16.3m   $35.8m   $37.9m
Net income $3.2m $7.4m $21.9m $16.1m

Earnings per share – Basic (1)

 

$0.12

 

$0.28

 

$0.83

 

$0.60

Adjusted net income (2)

$3.7m $7.4m $24.7m $29.5m

Adjusted earnings per share – Basic

$0.14

$0.28

$0.93

$1.10

Adjusted earnings per share – Diluted

 

$0.14

 

$0.27

 

$0.92

 

$1.08

Adjusted EBITDA (3)

$10.2m $14.6m $55.3m $62.2m

Adjusted EBITDA margin

 

10.6%

 

13.6%

 

13.3%

 

13.5%

Net cash flows from operating activities   $9.4m   $15.2m   $29.2m   $52.8m
Net debt (total debt less cash)   $107.4m   $94.7m   $107.4m   $94.7m
Total equity – book value (net assets) $141.9m $169.7m $141.9m $169.7m

£0.50 ordinary shares outstanding

 

26.4m

 

26.9m

 

26.4m

 

26.9m

 

(1)

  Basic earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding in the period.

(2)

Adjusted net income consists of net income for the period adjusted for the post tax impact of non-trading items, including, certain accounting charges relating to acquisitions and disposals of businesses (comprising the unwind of the discount on deferred contingent consideration from acquisitions, other income / (expense) from acquisitions and disposals of businesses, and the amortization on acquired intangibles), IAS 19R retirement benefits finance charge, profit on sale of redundant site, changes to defined benefit pension plans, restructuring and other expense, and other share-based compensation charges. A reconciliation to net income is disclosed in Note 4 of this release “Non-GAAP measures”.

(3)

Adjusted EBITDA is defined as profit on operations before taxation for the period, finance income (which comprises interest received) and costs (which comprises interest costs, IAS 19R retirement benefits finance charge and the unwind of the discount on deferred contingent consideration from acquisitions), other income / (expense) from acquisitions and disposals of businesses, profit on sale of redundant site, changes to defined benefit pension plans, restructuring and other expense, other share-based compensation charges, loss on disposal of property, plant and equipment and depreciation and amortization. A reconciliation to net income is disclosed in Note 4 of this release “Non-GAAP measures”.

ABOUT LUXFER GROUP

Luxfer Group is a global materials technology group focused on sustained value creation using its broad array of technical know-how and proprietary materials technologies. The company specializes in the design and manufacture of high-performance materials, components and high-pressure gas-containment devices for environmental, healthcare, protection and specialty end-markets. Luxfer customers include both end-users of its products and manufacturers that incorporate Luxfer products into finished goods. For more information, visit www.luxfer.com.

Luxfer Group is listed on the New York Stock Exchange, and its American Depositary Shares (ADSs) trade under the ticker LXFR.

CONTACTS

Investor and news agency communications should initially be directed to Dan Stracner, Director of Investor Relations, U.S. telephone number: +1 951 341 2375; email: dan.stracner@luxfer.net.

Contacts

Luxfer Group
Dan Stracner, Director of Investor Relations
U.S. telephone number: +1-951-341-2375
dan.stracner@luxfer.net

Release Summary

Luxfer reports 2016 fourth-quarter results

Contacts

Luxfer Group
Dan Stracner, Director of Investor Relations
U.S. telephone number: +1-951-341-2375
dan.stracner@luxfer.net