Supremex Inc. announced its results for the 3Q and nine-month period ended September 30, 2016, and declared a 9.1% increase to its regular quarterly dividend.
Revenue in the 3Q 2016 was up 12.6%, to $36.5 million, on strong growth in the U.S. envelope market, mostly from the contribution of the acquisition of Classic Envelope Inc. located in Massachusetts, and of the recent acquisition of substantially all of the assets of Bowers Envelope located in Indiana.
EBITDA stood at $5 .5 million for the three-month period ended September 30, 2016, compared with $6.6 million for the same period in 2015, a decrease of $1.1 million, or 16.4%.
Net earnings grew by 2.2% to $2.8 million comparable to the same period of 2015.
"The 3Q was challenging as a result of the effects of the traditional seasonal mailing patterns, the Canada Post labour disruption threat and an exceptional comparable quarter last year. On a year-to-date basis, our strategy to diversify into growth markets and strengthening our envelope platform continues to yield positive results and sets the path for sustained future profitability," said Stewart Emerson, President and CEO of Supremex.
Revenue for the nine-month period ended September 30, 2016, was $117.2 million compared with $101 million for the nine-month period ended September 30, 2015, an increase of $16.2 million, or 16%.
EBITDA stood at $19.6 million for the nine-month period ended September 30, 2016, compared with $25 million for the same period in 2015, a decrease of $5.4 million, or 21.7%.
Net earnings amounted to $10 million for the nine-month period ended September 30, 2016, compared with $12.1 million for the same period in 2015, a decrease of $2.1 million, or 18%.
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.
