Advanced Drainage Systems, Inc. designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. It also purchases and distributes construction fabrics, and other geosynthetic products for soil stabilization, reinforcement, filtration, separation, erosion control, and sub-surface drainage. The company was founded in ...
4640 Trueman Boulevard
Hilliard, OH 43026
Founded in 1966
Advanced Drainage Systems, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
May 12 15
Advanced Drainage Systems, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2015. For the quarter, the company reported net sales of USD 206,624,000 against USD 181,232,000 a year ago. Loss from operations was USD 3,855,000 against USD 25,156,000 a year ago. Loss before income taxes was USD 15,019,000 against USD 29,172,000 a year ago. Net loss available to common stockholders was USD 10,257,000 or USD 0.19 per basic and diluted share against USD 15,150,000 USD 0.01 per basic and diluted share a year ago. Adjusted EBITDA was USD 16,263,000 against USD 16,442,000 a year ago. EBITDA was USD 2,898,000 against LBITDA of USD 11,781,000 a year ago. Adjusted net loss (Non-GAAP) was USD 248,000 or USD 0.00 per fully converted share against USD 11,622,000 or USD 0.17 per fully converted share a year ago. Net loss attributable to the company was USD 9,964,000 against USD 12,170,000 a year ago. CapEx for the fourth quarter was USD 11.2 million.
For the year, the company reported net sales of USD 1,177,821,000 against USD 1,069,009,000 a year ago. Income from operations was USD 75,889,000 against USD 53,315,000 a year ago. Income before income taxes was USD 46,497,000 against USD 37,041,000 a year ago. Net income available to common stockholders was USD 13,390,000 or USD 0.26 per diluted share against net loss available to common stockholders of USD 3,412,000 USD 0.07 per diluted share a year ago. Net cash provided by operating activities were USD 68,576,000 against USD 62,122,000 a year ago. Capital expenditures were USD 32,689,000 against USD 40,288,000 a year ago. Adjusted EBITDA was USD 153,610,000 against USD 147,009,000 a year ago. EBITDA was USD 117,536,000 against USD 107,294,000 a year ago. Adjusted net income (Non-GAAP) was USD 44,080,000 or USD 0.62 per fully converted share against USD 19,015,000 or USD 0.28 per fully converted share a year ago. Net loss attributable to the company was USD 26,300,000 against USD 11,124,000 a year ago. For the full fiscal year 2015, capital expenditures totaled USD 33 million, slightly below the company estimate of USD 35 million.
Based on current visibility, backlog of existing orders and business trends, the company provided its financial targets for fiscal year 2016. Net sales for fiscal year 2016 are forecasted to be in the range of USD 1.32 billion to USD 1.365 billion, while the outlook for adjusted EBITDA is expected to be in the range of USD 190 to USD 215 million. Capital expenditures are expected to be approximately USD 40 million. Adjusted EBITDA growth is forecast to be driven by the higher sales volumes, increased operating leverage and a more favorable cost environment, driven by lower raw material and fuel costs as well as the contribution of a full year of operating results from Ideal Pipe acquisition in Canada.
Advanced Drainage Systems, Inc. Announces Quarterly Cash Dividend, Payable on June 15, 2015
May 11 15
Advanced Drainage Systems, Inc. announced on May 11, 2015 that its board of directors has approved a 25% increase in the quarterly cash dividend to its shareholders in the amount of $0.05 per share, up from $0.04 per share. The quarterly cash dividend will be paid on June 15, 2015 to shareholders of record at the close of business on June 1, 2015.