GMS Inc. distributes wallboards, suspended ceilings systems, and complementary interior construction products in North America. It offers wallboard products; and ceilings product line consists of suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and other commercial and institutional buildings. The company also distributes steel framing products, including steel tracks, studs, and various other steel products used to frame the interior walls of commercial or institutional buildings; and insulation, ready-mix joint compound, and various other interior construction products, as well as ancillary products, ...
100 Crescent Centre Parkway
Tucker, GA 30084
Founded in 1971
GMS Inc. Promotes Richard Alan Adams to Senior Vice President of Operations
Dec 21 16
On December 21, 2016, GMS Inc. announced that Richard Alan Adams, age 56, will be promoted to serve in a newly formed position of Senior Vice President of Operations, effective December 21, 2016. The Company's divisional vice presidents will report to Mr. Adams in this new role. Mr. Adams joined the Company in 1996 and served as the Company's Vice President, Chief Accounting Officer, and Chief Technology Officer from August 2014 to September 2016 and as the Company's Vice President and Chief Information Officer since September 2016.
GMS Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended October 31, 2016; Provides Capital Expenditure Guidance for the Fiscal 2017
Dec 13 16
GMS Inc. reported unaudited consolidated financial results for the second quarter and six months ended October 31, 2016. Net sales for the second quarter of fiscal 2017 ended October 31, 2016 were $591.8 million, compared to $458.1 million for the second quarter of fiscal 2016 ended October 31, 2015. Operating income was $26,058,000 compared to $14,299,000 a year ago. Income before taxes was $17,934,000 compared to $5,448,000 a year ago. Net income of $17.2 million, or $0.42 per share, increased $14.4 million, compared to $2.8 million, or $0.09 per share, in the second quarter of fiscal 2016. Adjusted net income of $19.0 million, or $0.46 per diluted share, grew $6.4 million, compared to $12.6 million, or $0.38 per diluted share, in the first quarter of fiscal 2016. Adjusted EBITDA was $49.5 million rose 42.3%, compared to $34.8 million in the second quarter of fiscal 2016. EBITDA was $43,887,000 compared to $29,762,000 a year ago. Adjusted pre-tax income was $32,682,000 compared to $21,716,000 a year ago. The company generated $31.3 million of operating cash flow compared to $16.1 million generated in the second quarter of 2016.
For the six months, the company reported net sales were $1,141,646,000 compared to $910,518,000 a year ago. Operating income was $53,790,000 compared to $28,912,000 a year ago. Income before taxes were $33,256,000 compared to $11,314,000 a year ago. Net income was $26,387,000 compared to $5,836,000 a year ago. Diluted net income per share was $0.66 compared to $0.18 a year ago. Cash provided by operating activities was $691,000 compared to cash used in operating activities of $2,327,000 a year ago. Purchases of property and equipment were $5,024,000 compared to $2,670,000 a year ago. EBITDA was $87,964,000 compared to $60,720,000 a year ago. Adjusted EBITDA was $95,460,000 compared to $68,913,000 a year ago. Adjusted pre-tax income was $63,293,000 compared to $41,182,000 a year ago. Adjusted net income was $36,773,000 compared to $23,927,000 a year ago. Diluted adjusted net income per share was $0.92 compared to $0.73 a year ago.
For fiscal 2017, the company continues to expect capex to range from $8 million to $10 million going forward, consistent with approximately $8 million of capex in fiscal 2016.