Chase Corporation Announces Fiscal 2016 Results

Chase Corporation (NYSE MKT: CCF) today reported revenue of $238.09 million for the year ended August 31, 2016. This is an increase of $0.05 million, or less than one percent, compared to $238.05 million recognized in the prior fiscal year. Net income attributable to Chase Corporation of $32.81 million for fiscal 2016 increased $6.49 million, or 25%, from $26.32 million in the prior year. Earnings per diluted share of $3.50 for fiscal 2016 represented an increase of $0.68, or 24%, compared to $2.82 per diluted share in the prior year. Adjusted EBITDA for fiscal 2016 increased $8.41 million, or 15%, to $64.01 million compared to $55.60 million in the prior year.

For the fourth fiscal quarter of 2016, revenue decreased $3.46 million, or 5%, to $61.46 million, compared to $64.91 million in last year's fourth quarter. Net income attributable to Chase Corporation of $10.86 million in the current quarter increased $2.67 million, or 33%, from $8.18 million in last year's fourth quarter. Earnings per diluted share of $1.16 in the quarter represented an increase of $0.29, or 33%, compared to $0.87 per diluted share in last year's fourth quarter. Adjusted EBITDA in the current quarter increased $2.11 million, or 13%, to $18.10 million, compared to $16.00 million in last year's fourth quarter.

The Company also announced a cash dividend of $0.70 per share to shareholders of record on November 11, 2016 and payable on December 7, 2016.

Adam P. Chase, President and Chief Executive Officer, commented,

"Fiscal 2016 product mix trends continued into the fourth quarter with automotive and broadband-related products remaining solid contributors for our Industrial Materials segment. Construction Materials was challenged by the continued slowness in Middle East project work when compared to the prior year and by sustained lower petroleum prices. Overall, we had a successful fiscal year with our focus on maintaining solid margins despite top-line pressure. We are particularly proud of our team's cost and working capital management, which is indicative of our improved information systems."

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