Fourth Quarter Highlights
- Net sales declined 4.5% to $110.9
million
- GAAP net loss of $0.31 per share,
including $22.8 million in restructuring, impairment charges and
acquisition-related costs
- Adjusted diluted EPS increased 66.7% to
$0.40
Full Year Highlights
- Net sales increased 10.6% to $487.9
million
- GAAP diluted EPS increased 45.2% to
$0.90
- Adjusted diluted EPS increased 64.1% to
$1.69
Two tables have been added to the end of the release.
The release now reads:
LUXFER HOLDINGS ANNOUNCES FOURTH QUARTER AND
FULL-YEAR 2018 FINANCIAL RESULTS
Fourth Quarter Highlights
- Net sales declined 4.5% to $110.9
million
- GAAP net loss of $0.31 per share,
including $22.8 million in restructuring, impairment charges and
acquisition-related costs
- Adjusted diluted EPS increased 66.7% to
$0.40
Full Year Highlights
- Net sales increased 10.6% to $487.9
million
- GAAP diluted EPS increased 45.2% to
$0.90
- Adjusted diluted EPS increased 64.1% to
$1.69
Luxfer Holdings PLC (NYSE: LXFR), a global
manufacturer of highly-engineered industrial materials, today
announced financial results for its fourth quarter and full year,
which ended December 31, 2018. Financial results for all periods
are presented in U.S. GAAP, as the Company became a SEC domestic
issuer as of January 1, 2019. To access the IFRS to GAAP financial
performance bridge for the quarters and full year for 2018 and
2017, please click here.
Fourth Quarter 2018 Results
Consolidated net sales were $110.9 million, down 4.5% from
$116.1 million due to lower shipments of disaster-relief products
related to reduced hurricane activity compared to a year ago and an
unfavorable foreign currency impact.
GAAP net loss of $8.5 million, or $0.31 per share, compared to a
net loss of $1.0 million, or $0.04 per share, in the prior-year
period. Quarterly results include pre-tax restructuring and
impairment charges related to the Company’s transformation programs
and acquisition-related costs totaling $22.8 million for 2018,
versus restructuring and impairment charges of $8.1 million for the
prior quarter.
Adjusted net income was $11.2 million, or $0.40 per diluted
share, compared with $6.5 million, or $0.24 per diluted share, for
fourth quarter 2017.
Adjusted EBITDA increased 15.9% to $16.0 million from $13.8
million. Adjusted EBITDA margin of 14.4% improved 250 basis points
primarily from cost reduction efforts.
“The fourth quarter capped a year of high achievement across our
business, including driving commercial excellence, building a
high-performance culture, and progressing toward lean operations,”
stated Luxfer’s Chief Executive Officer Alok Maskara. “Our focus on
customer-driven innovation supported sustainable market share
gains. We are also pleased on the progress of our business
transformation program, having achieved more than $9 million of net
cost savings in our first year of this initiative. With this strong
momentum, we are increasing our targeted cost savings to $24
million from $20 million by 2021. We are now positioned to deliver
$15 million of further cost reductions over the next three years.
In addition, the simplification phase of our Transformation Plan is
now complete with the transition to domestic issuer status. Taken
together, we are well on a path to continually enhance value for
all Luxfer shareholders.”
Full Year 2018 Results
Consolidated net sales for 2018 increased 10.6% to $487.9
million from $441.3 million. Net income increased 50.6% to $25.0
million. GAAP EPS of $0.90 increased 45.2%. Full-year results
include pre-tax restructuring, impairment charges and
acquisition-related costs totaling $24.9 million for 2018. Adjusted
diluted EPS of $1.69 increased 64.1% from $1.03 per share for
2017.
Adjusted EBITDA increased 34.2% to $79.6 million and Adjusted
EBITDA margin of 16.3% improved 290 basis points. Improvement in
adjusted EBITDA was attributed to volume growth and successful cost
reduction efforts that resulted in $9.2 million in total savings in
2018.
Elektron Segment
Fourth Quarter
- Net sales of $54.5 million decreased
11.1%, primarily a result of lower hurricane-related sales, the
timing of certain shipments and a 1.8% unfavorable foreign exchange
impact, offset somewhat by continued growth in Zirconium and
SoluMag products.
- Adjusted EBITDA decreased 12.4% to $9.9
million from $11.3 million, and adjusted EBITDA margin declined 20
basis points to 18.2% primarily a result of lower volume.
Full Year
- Net sales of $249.86 million increased
13% from $221.1 million in 2017, including a 1.0% benefit from
foreign currency.
- Adjusted EBITDA increased 32.9% to
$56.2 million from $42.3 million in 2017 and adjusted EBITDA margin
of 22.5% improved 340 basis points compared to 2017.
Gas Cylinders Segment
Fourth Quarter
- Net sales of $56.4 million increased
2.9%, primarily driven by strong demand for alternative fuel
products within Europe. Sales included a 2.2% negative impact from
foreign currency. Superform also contributed to growth as the
business turnaround gained further momentum.
- Adjusted EBITDA increased 144% to $6.1
million from $2.5 million and adjusted EBITDA margin increased 620
basis points to 10.8%, driven primarily by cost reduction efforts
and volume.
Full Year
- Net sales of $238.13 million increased
8.12% and included a 1.0% benefit from foreign currency.
- Adjusted EBITDA increased 37.6% to
$23.4 million and adjusted EBITDA margin of 9.8% improved 210 basis
points.
Capital Resources and Liquidity
As of December 31, 2018, the Company had net debt of $63.3M with
a Net debt to EBITDA ratio of 0.8x. Net cash flow before financing
was $22.6 million, compared with $7.1 million a year ago. For the
full year, net cash flow before financing was $53.2 million,
compared with $22.8 million for 2017.
Outlook
Luxfer continues to maintain the long-term target of 8-10%
growth in annual adjusted Earnings Per Share. The Company expects
2019 EPS growth at the low end of the target range given the strong
64% EPS growth in 2018 and because of expected lower shipments of
disaster-relief products.
“Business conditions remain firm, as we begin 2019,” stated Mr.
Maskara. “Looking ahead, we have multiple opportunities to increase
profit margins by driving lean manufacturing and continuing on our
transformation journey. Our 2019 sales growth outlook assumes that
the strong hurricane-related sales that took place in the first
half of 2018 are not likely to recur in 2019. In addition, for
2019, we expect to further improve profitability by exiting lower
margin product lines.”
Neo Performance Materials Transaction Update
As recently announced, Luxfer and Neo Performance Materials
(“Neo”) have mutually agreed to terminate the transaction in which
Luxfer would have acquired Neo. A link to the press release
regarding this development can be found here.
Luxfer’s Board of Directors Appoints New Chair and
Non-Executive Member
Also announced today, Luxfer’s Board of Directors has appointed
David Landless as its new Chair, effective May 15, 2019, upon the
previously announced retirement of Joseph Bonn. In addition, the
company announced that Allisha Elliott has joined the Board as a
non-executive independent director. A link to the press release
announcing the appointment to Mr. Landless as Chair and addition of
Allisha Elliott as a non-executive independent Board member can be
found here.
Conference Call Information
Luxfer has scheduled a conference call at 8:30 a.m. U.S. Eastern
Time on Tuesday, March 12, 2019, on which management will provide a
review of the Company’s results for the fourth quarter and full
year. U.S. participants may access the conference call by
telephoning +1 877-341-8545. U.K. participants may call
0-800-028-8438. Participants from other countries may call
+1-908-982-4601. The participant conference ID code is 8476359. The
following link provides access to slides for the conference
call:
https://event.webcasts.com/starthere.jsp?ei=1228562&tp_key=d981925bd2
A recording of the conference call will be available for replay
two hours after the completion of the call and will remain
accessible until the next quarterly report is released. To hear the
recording, call +1 800-585-8367 in the U.S., 0-800-917-2646 in the
U.K. and +1-404-537-3406 in other countries. Enter conference ID
code 8476359 when prompted. Slides used in the presentation and a
recording of the call will also be available in the investor
relations section of the Luxfer website at www.luxfer.com.
Non-GAAP Financial Measures
Luxfer Holdings PLC prepares its financial statements using
Generally Accepted Accounting Principles (GAAP). When a company
discloses material information containing non-GAAP financial
measures, SEC regulations require that the disclosure include a
presentation of the most directly comparable GAAP measure and a
reconciliation of the GAAP and non-GAAP financial measures.
Management’s inclusion of non-GAAP financial measures in this
release is intended to supplement, not replace, the presentation of
the financial results in accordance with GAAP. Luxfer management
believes that these non-GAAP financial measures, when considered
together with the GAAP financial measures, provide information that
is useful to investors in understanding period-over-period
operating results separate and apart from items that may, or could,
have a disproportionately positive or negative impact on results in
any period. Management also believes that these non-GAAP financial
measures enhance the ability of investors to analyze the Company’s
business trends and to understand the Company’s performance. In
addition, management may utilize non-GAAP financial measures as a
guide in the Company’s forecasting, budgeting and long-term
planning process. Non-GAAP financial measures should be considered
in addition to, and not as a substitute for, or superior to,
financial measures presented in accordance with GAAP.
Forward-Looking Statement
This release contains certain forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those projected in the forward-looking
statements. Examples of such forward-looking statements include but
are not limited to: (i) statements regarding the Company’s results
of operations and financial condition; (ii) statements of plans,
objectives or goals of the Company or its management, including
those related to financing, products or services; (iii) statements
of future economic performance; and (iv) statements of assumptions
underlying such statements. Words such as “believes,”
“anticipates,” “expects,” “intends,” “forecasts” and “plans” and
similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such
statements. By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that the predictions, forecasts,
projections and other forward-looking statements will not be
achieved. The Company cautions that several important factors could
cause actual results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in
such forward-looking statements. These factors include, but are not
limited to: (i) lower than expected future sales; (ii) increasing
competitive industry pressures; (iii) general economic conditions
or conditions affecting demand for the products and services we
offer, both domestically and internationally, including as a result
of the Brexit referendum, being less favorable than expected; (iv)
worldwide economic and business conditions and conditions in the
industries in which we operate; (v) fluctuations in the cost of raw
materials, utilities and other inputs; (vi) currency fluctuations
and hedging risks; (vii) our ability to protect our intellectual
property; and (viii) the significant amount of indebtedness we have
incurred and may incur and the obligations to service such
indebtedness and to comply with the covenants contained therein.
The Company cautions that the foregoing list of important factors
is not exhaustive. These factors are more fully discussed in the
sections “Forward-Looking Statements” and “Risk factors” in our
Annual Report on Form 10-K for the year ended December 31, 2018,
that was filed with the U.S. Securities and Exchange Commission on
March 11, 2019. When relying on forward-looking statements to make
decisions with respect to the Company, investors and others should
carefully consider the foregoing factors and other uncertainties
and events. Such forward-looking statements speak only as of the
date on which they are made, and the Company does not undertake any
obligation to update or revise any of them, whether because of new
information, future events or otherwise.
About Luxfer Holdings PLC (“Luxfer”)
Luxfer is a global manufacturer of highly-engineered industrial
materials, which focuses on value creation by using its broad array
of technical knowhow and proprietary technologies. Luxfer’s
high-performance materials, components, and high-pressure gas
containment devices are used in defense and emergency response,
healthcare, transportation, and general industrial settings. For
more information, visit www.luxfer.com.
Luxfer is listed on the New York Stock Exchange and its ordinary
shares trade under the symbol LXFR.
Luxfer Holdings PLC Consolidated Statements of
Income Quarter ended December 31,
Year ended December 31, In millions, except share and
per-share data
2018 2017 2018
2017
(Unaudited) (Unaudited) Net sales
$ 110.9 $ 116.1
$ 487.9 $ 441.3 Cost of
goods sold
(86.7 )
(89.0 )
(365.8 )
(332.7 ) Gross profit 24.2
27.1
122.1 108.6 Selling, general and administrative
expenses
(13.6 ) (21.6 )
(60.8 ) (68.1
) Research and development
(0.9 ) (2.0 )
(6.4
) (7.8 ) Restructuring charges
(11.3 ) (4.2 )
(13.4 ) (8.4 ) Impairment charges
(7.2
) (3.7 )
(7.2 ) (3.7 )
Acquisition related costs /credits
(4.3 )
1.3 (4.3
) 1.3 Operating
income / (loss) (13.1 ) (3.1 )
30.0 21.9
Net interest expense
(0.9 ) (1.5 )
(4.6
) (6.3 ) Defined benefit pension credit
0.8 1.1
4.7 4.2
Income / (loss) before income taxes and equity in net
earnings of affiliates (13.2 ) (3.5 )
30.1
19.8 Provision / (credit) for income taxes
4.4 2.5
(5.5 )
(3.3 ) Income / (loss) before equity
in net earnings of affiliates (8.8 ) (1.0 )
24.6 16.5 Equity income / (loss) of unconsolidated
affiliates
0.3
- 0.4
0.1 Net Income / (loss)
$ (8.5
) $
(1.0 )
$ 25.0
$ 16.6 Weighted average
number of ordinary shares For basic earnings per share
26,986,996 26,495,919
26,708,469 26,460,947 Exercise
of share options
801,265
378,730 983,793
263,034 For diluted earnings per
share
27,788,261 26,874,649
27,692,262 26,723,981
Earnings / (loss) per ordinary share Basic earnings /
(loss) per ordinary share
(0.31 ) (0.04 )
0.94
0.63 Diluted earnings / (loss) per ordinary share (1)
(0.31
) (0.04 )
0.90 0.62
1. The Company incurred a net loss for the fourth quarters of
2017 and 2018 and, therefore, the net loss per share has not been
diluted for any potentially dilutive shares. Adjusted diluted
earnings per ordinary share for the fourth quarters of 2017 and
2018, however, have been diluted for any potentially dilutive
shares.
Luxfer Holdings PLC Consolidated Balance
Sheets December 31, In millions, except
share and per-share data
2018 2017 Current
assets Cash and cash equivalents
$ 13.8 $ 12.6
Restricted cash
0.3 0.7 Accounts and other receivables, net
of allowances of $3.9 and $4.1 respectively
62.7 72.4
Inventories
93.6 82.2 Investments and loans to joint
ventures and other affiliates - 1.6 Other current assets
10.7 1.2
Total current assets
$ 181.1 $ 170.7
Non-current assets Property, plant and equipment, net
$ 106.9 $ 129.1 Goodwill
67.6 71.2
Intangibles, net
14.6 16.1 Deferred tax assets
18.6
20.8 Investments and loans to joint ventures and other affiliates
1.6 7.6 Other non-current assets
-
0.3 Total assets
$ 390.4
$ 415.8 Current
liabilities Current maturities of long-term debt and short-term
borrowings
$ 3.5 $ 19.2 Accounts payable
36.9
28.4 Accrued liabilities
33.8 29.7 Taxes on income
1.6 0.3 Other current liabilities
11.9 6.4
Total current liabilities $ 87.7 $ 84.0
Non-current liabilities Long-term debt
$ 73.6
$ 94.6 Pensions and other retirement benefits
40.0 55.3
Deferred tax liabilities
3.5 4.2 Other non-current
liabilities
1.3
3.2 Total Liabilities $
118.4 $ 157.3
Shareholders' equity Ordinary
shares of £0.50 par value; authorized 40,000,000 shares for 2018
and 2017; issued and outstanding 29,000,000 shares for 2018 and
27,136,799 shares for 2017
$ 26.6 $ 25.3 Deferred
shares of £0.0001 par value; authorized 761,845,318,444; issued and
outstanding 761,835,338,444 shares for 2018 and authorized
769,423,688,000; issued and outstanding 769,413,708,000 shares for
2017
149.9 150.9 Additional paid-in capital
65.6 62.1
Treasury shares
(4.3 ) (5.8 ) Own shares held by ESOP
(2.2 ) (1.0 ) Retained earnings
95.3 83.7
Accumulated other comprehensive loss
(146.6 )
(140.7 ) Total shareholders'
equity $ 184.3
$ 174.5 Total liabilities and
shareholders' equity $
390.4 $ 415.8
Luxfer Holdings PLC Consolidated
Statements of Cash Flows Quarter ended
December 31, Year ended December 31, In millions
2018 2017 2018
2017 (Unaudited) (Unaudited) Operating
activities Net income
$ (8.5 ) $ (1.0 )
$ 25.0 $ 16.6 Adjustments to reconcile net income to
net cash provided by (used for) operating activities Equity
(income) / loss of unconsolidated affiliates
(0.3 ) -
(0.4 ) (0.1 ) Depreciation
5.1 4.5
17.8
17.0 Amortization of purchased intangible assets
0.2 0.5
1.2 1.3 Amortization of debt issuance costs
(0.1
) 0.1
0.3 0.6 Share-based compensation
2.9 2.3
4.8 3.1 Deferred income taxes
(9.7 ) (4.0 )
0.2 (2.7 ) Loss / (gain) on disposal of property, plant and
equipment
0.3 0.1
0.3 0.1 Asset impairment charges
13.2 3.7
13.9 5.9 Pension and other post-retirement
expense
4.5 (0.1 )
0.4 0.6 Pension and other
post-retirement contributions
(2.3 ) (3.2 )
(12.3 ) (12.9 ) Changes in assets and liabilities,
net of effects of business acquisitions Accounts and notes
receivable
11.9 6.4
5.8 (11.5 ) Inventories
(0.6 ) 7.6
(15.5 ) 4.9 Other current
assets
(0.1 ) (1.3 )
1.1 1.3 Accounts payable
0.4 (3.1 )
7.3 1.5 Accrued liabilities
(3.6
) 0.7
4.8 14.0 Other current liabilities
12.6
1.2
9.9 (2.0 ) Other non-current assets and liabilities
(1.0 )
0.9 (1.4
) 1.1 Net cash
provided by operating activities $ 24.9 $ 15.3
$ 63.2 $ 38.8
Investing activities
Capital expenditures
$ (5.7 ) $ (3.7 )
$ (13.9 ) $ (10.5 ) Proceeds from sale of
property and equipment
(0.1 ) 0.1
0.1 0.1
Proceeds from sale of businesses and other
- 0.1
-
0.1 Investments in unconsolidated affiliates
0.3 (1.4 )
1.1 (1.0 ) Acquisitions, net of cash acquired
3.2 (3.3
) 2.7
(4.7 ) Net cash used for investing
activities $ (2.3 ) $ (8.2 )
$
(10.0 ) $ (16.0 )
Financing activities
Net (decrease) / increase in short term borrowings
$
3.5 $ 4.2
$ (15.7 ) $ 4.2 Net
(repayments) / receipts of long-term borrowings
(15.2
) (12.0 )
(21.3 ) (13.4 ) Debt issuance costs
- -
- (0.6 ) Deferred consideration paid
(0.8
) (1.4 )
(0.8 ) (1.4 ) Proceeds from issue of
share capital
0.3 -
6.6 — Dividends paid
(3.4
) (3.3 )
(13.4 ) (13.3 ) Share-based
compensation cash paid
(1.6
) (0.6 )
(7.3 )
(0.6 ) Net cash used for financing
activities $ (17.2 ) $ (13.1 )
$
(51.9 ) $ (25.1 ) Effect of exchange rate
changes on cash and cash equivalents
(0.2 )
0.1 (0.5
) 2.0 Net
(decrease) / increase $
5.2 $ (5.9
) $ 0.8
$ (0.3 ) Cash, cash
equivalents and restricted cash; beginning of year
$
8.9 $ 19.2
$ 13.3 $ 13.6 Cash, cash
equivalents and restricted cash; end of year
$ 14.1 $
13.3
$ 14.1 $ 13.3
Luxfer Holdings
PLC Segment Information Net sales
Quarter ended December 31,
Year ended December 31, In millions
2018 2017
2018 2017 (Unaudited) (Unaudited)
Elektron $ 54.5 $ 61.3 $ 249.8 $ 221.1 Gas Cylinders
56.4 54.8
238.1 220.2
Consolidated
$ 110.9
$ 116.1 $
487.9 $ 441.3
Operating income (GAAP) Quarter ended
December 31, Year ended December 31, In millions
2018 2017 2018 2017 (Unaudited)
(Unaudited) Elektron $ 0.5 $ 3.8 $ 34.4 $ 24.2 Gas Cylinders
$ (10.3 ) $ (2.4 ) $ (0.6 ) $ 3.5 Unallocated
(3.3 ) (4.5
) (3.8 )
(5.8 ) Consolidated
$
(13.1 ) $ (3.1
) $ 30.0
$ 21.9 Adjusted
EBITDA (Unaudited) Quarter ended December 31,
Year ended December 31, In millions
2018
2017 2018 2017 Elektron $ 9.9 $ 11.3 $ 56.2 $
42.3 Gas Cylinders
6.1
2.5 23.4
17.0 Consolidated
$
16.0 $ 13.8
$ 79.6 $
59.3
Reconciliation
Quarter ended December 31, Year ended December
31, In millions
2018 2017 2018 2017
Adjusted EBITDA $ 16.0 $ 13.8 $ 79.6 $ 59.3 Other share based
compensation charges (1.7 ) (1.0 ) (4.8 ) (2.2 ) Loss on disposal
of property, plant and equipment (0.1 ) - (0.3 ) - Depreciation and
amortization (4.5 ) (4.7 ) (19.0 ) (18.3 ) Equity income of
unconsolidated affiliates (0.3 ) - (0.4 ) (0.1 ) Unwind of discount
on deferred consideration 0.3 (0.1 ) (0.2 ) (0.2 ) Restructuring
charges (11.3 ) (4.2 ) (13.4 ) (8.4 ) Impairment charges (7.2 )
(3.7 ) (7.2 ) (3.7 ) Acquisition costs (4.3 ) 1.3 (4.3 ) 1.3 Other
charges - (4.5 ) - (5.8 ) Interest and pension (0.1 ) (0.4 ) 0.1
(2.1 ) Provision for income taxes 4.4 2.5 (5.5 ) (3.3 ) Equity
income of unconsolidated affiliates
0.3
- 0.4
0.1 Net income
$ (8.5
) $ (1.0 )
$ 25.0 $
16.6 Luxfer Holdings PLC
Quarterly and Full Year Adjusted Net Income and Adjusted
Earnings per Share
2018 In millions, except per-share data
Q1
Q2 Q3 Q4 Full Year
Net income $ 9.9 $ 11.4 $
12.2 $ (8.5 ) $ 25.0
Accounting charges relating to acquisitions and disposals of
businesses: Unwind of discount on deferred contingent consideration
from acquisitions 0.1 0.2 0.2 (0.3 ) 0.2 Amortization on acquired
intangibles 0.3 0.3 0.3 0.3 1.2 Acquisitions and disposals - - -
6.6 6.6 Defined benefit pension actuarial adjustment (1.4 ) (1.2 )
(1.3 ) (0.8 ) (4.7 ) Restructuring and other charges 0.7 0.3 1.1
16.2 18.3 Share-based compensation charges 0.5 1.4 1.2 1.7 4.8
Impact from U.S. tax reform - - - - - Other non-recurring tax items
- - - (2.9 ) (2.9 ) Income tax thereon
(0.1
) (0.2 )
(0.3 ) (1.1
) (1.7 ) Adjusted
net income $ 10.0
$ 12.2
$ 13.4
$ 11.2
$ 46.8
Adjusted earnings per ordinary share Adjusted diluted
earnings per ordinary share
$ 0.37 $
0.45 $ 0.48 $ 0.40 $
1.69 2017 In millions, except per-share data
Q1 Q2 Q3 Q4
Full Year Net income $ 7.9 $
3.9 $ 5.8 $ (1.0 )
$ 16.6 Accounting charges relating to acquisitions
and disposals of businesses: Unwind of discount on deferred
contingent consideration from acquisitions - 0.1 - 0.1
0.2
Amortization on acquired intangibles 0.3 0.3 0.3 0.4
1.3
Acquisitions and disposals - - - (1.3 )
(1.3 )
Defined benefit pension actuarial adjustment (1.0 ) (1.0 ) (1.1 )
(1.1 )
(4.2 ) Restructuring and other charges 0.2 3.3
2.0 12.4
17.9 Share-based compensation charges 0.3 0.4 0.5
1.0
2.2 Impact from U.S. tax reform - - - (2.0 )
(2.0
) Other non-recurring tax items - - - -
- Income tax
thereon
(0.3 )
(0.5 ) (0.3
) (2.0 )
(3.1 ) Adjusted net
income $ 7.4
$ 6.5
$ 7.2
$ 6.5
$ 27.6
Adjusted earnings per ordinary share Adjusted diluted
earnings per ordinary share
$ 0.28 $
0.24 $ 0.27 $ 0.24 $
1.03 Luxfer Holdings PLC Quarterly and Full
Year Adjusted EBITDA
2018 In millions
Q1 Q2 Q3
Q4 Full Year Adjusted net income
$ 10.0 $ 12.2 $ 13.4
$ 11.2 $ 46.8 Add back / (deduct):
Impact from U.S. tax reform - - - - - Other non-recurring tax items
- - - 2.9 2.9 Income tax thereon 0.1 0.2 0.3 1.1 1.7 Income tax
expense (credit) 3.0 3.4 3.5 (4.4 ) 5.5 Net finance costs 1.5 1.0
1.2 0.9 4.6 Loss on disposal of property, plant and equipment - -
0.2 0.1 0.3 Depreciation and amortization 4.9 4.9 4.7 4.5 19.0
Amortization on acquired intangibles
(0.3
) (0.3 )
(0.3 ) (0.3
) (1.2 ) Adjusted
EBITDA $ 19.2
$ 21.4
$ 23.0
$ 16.0
$ 79.6
2017 In millions
Q1 Q2 Q3
Q4 Full Year Adjusted net income
$ 7.4 $ 6.5 $ 7.2
$ 6.5 $ 27.6 Add back / (deduct):
Impact from U.S. tax reform - - - 2.0
2.0 Other
non-recurring tax items - - - -
- Income tax thereon 0.3 0.5
0.3 2.0
3.1 Income tax expense (credit) 1.9 1.8 2.1 (2.5 )
3.3 Net finance costs 1.5 1.7 1.6 1.5
6.3 Loss on
disposal of property, plant and equipment - - - -
-
Depreciation and amortization 4.4 4.5 4.7 4.7
18.3
Amortization on acquired intangibles
(0.3
) (0.3 )
(0.3 ) (0.4
) (1.3
) Adjusted EBITDA $
15.2 $
14.7 $
15.6 $
13.8 $
59.3
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190311005878/en/
Investor Contact:
Douglas A. Fox, CFADirector, Investor Relations
Cassandra StanfordCommunications Specialist
+1 414-269-5319Investor.relations@luxfer.com
Luxfer (NYSE:LXFR)
過去 株価チャート
から 8 2024 まで 9 2024
Luxfer (NYSE:LXFR)
過去 株価チャート
から 9 2023 まで 9 2024