Supremex Inc. announced its results for the 2Q ended June 30, 2018. Revenue for the three-month period ended June 30, 2018, increased by 13.8% or $5.7 million, reaching $46.8 million compared with $41.1 million during the three-month period ended June 30, 2017, as the company said in the press release received by Lesprom Network.
Adjusted EBITDA improved to $6.1 million in the 2Q 2018, representing an increase of 13.8%, compared with $5.4 million in the equivalent quarter of 2017. Net earnings reached $3.1 million (or $0.11 per share) for the three-month period ended June 30, 2018, compared with $2.8 million (or $0.10 per share) for the equivalent period in 2017.
"Revenues increased almost 14% in the quarter, as a result of our diversification strategy into the growing packaging market. With almost 33% of our revenues in the quarter coming from packaging and specialty products, we more than offset the secular decline of the Canadian envelope market achieving a 4.4% increase in adjusted net earnings," said Stewart Emerson, President & CEO of Supremex.
Revenue for the six-month period ended June 30, 2018, increased by 11% or $9.5 million, reaching $95.8 million compared with $86.3 million during the six-month period ended June 30, 2017. Revenue growth comes entirely from packaging and specialty products and was experienced across all packaging offerings. Adjusted EBITDA was $12.8 million, representing an increase of 3.9%, compared with $12.3 million in the equivalent period of 2017.
Supremex Inc. is a leading North American manufacturer and marketer of envelopes and a growing provider of packaging and specialty products.
