Supremex Inc. announced continued strong results for the 1Q ended March 31, 2016. Revenues in the 1Q 2016 was $41.3 million compared with $34.7 million in the equivalent quarter of 2015, an increase of 18.9%, or $6.6 million, as the company said in the press release received by Lesprom Network.
Adjusted EBITDA stood at $7.1 million for the three-month period ended March 31, 2016, compared with $7 million last year, an increase of $0.1 million, or 1.9%. Adjusted EBITDA margins stood at 17.3% in the 1Q 2016 compared to 20.2% last year as a result of a growing footprint in the U.S., effects of a stronger USD on costs of goods and anticipated business integration costs.
Net earnings in the 1Q 2016 totaled $3.2 million, or $0.11 per share, compared with $3.8 million, or $0.13 per share in the 1Q 2015.
“Our strategy to push into the U.S. market, expand our footprint and gradually diversify into packaging and specialty products continues to provide revenue growth, compensating for the secular decline in the overall envelope market,” said Stewart Emerson, President and CEO of Supremex. “While this strategy puts pressure on this quarter’s operating expenses, I am pleased by the pace of integration of our recent acquisitions, which are already starting to provide manufacturing and operating synergies.”
Supremex Inc. is a leading North American manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products.
