Luxfer Third-Quarter 2016 Results

Luxfer Group (NYSE:LXFR), a global materials technology company, today issued its unaudited financial results for the three-month and nine-month periods ended September 30, 2016. To access a PDF of the complete third-quarter 2016 report, click  here. The same document is also available at  www.luxfer.com.

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UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2016

Results are summarized as follows:
Three-month periods

ended September 30,
  Nine-month periods

ended September 30,
  2016 2015   2016 2015

Revenue

$98.9m

$113.2m
 

$318.7m

$352.9m
Trading profit $7.3m $10.6m $30.1m $32.8m

Trading margin

7.4%

9.4%

9.4%

9.3%
Operating profit $5.8m $10.3m   $30.5m $21.6m
Net income $3.3m $6.1m $18.7m $8.7m

Earnings per share - Basic (1)

$0.12

$0.23
 

$0.70

$0.32

Adjusted net income (2)
$5.0m $7.6m $21.0m $22.1m

Adjusted earnings per share - Basic

$0.19

$0.28

$0.80

$0.82

Adjusted earnings per share - Diluted

$0.19

$0.28
 

$0.78

$0.81

Adjusted EBITDA (3)
$12.0m $15.5m $45.1m $47.6m

Adjusted EBITDA margin

12.1%

13.7%
 

14.2%

13.5%
Net cash flows from operating activities $7.2m $13.3m   $19.8m $37.6m
Net debt (total debt less cash) $105.2m $97.6m   $105.2m $97.6m
Total equity - book value (net assets) $129.4m $161.9m $129.4m $161.9m

£0.50 ordinary shares outstanding

26.2m

26.9m
 

26.4m

26.9m

(1) Basic earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding in the period. (2) Adjusted net income consists of net income for the period adjusted for the post tax impact of non-trading items, including IAS 19R retirement benefits finance charge, certain accounting charges relating to acquisitions and disposals of businesses (comprising other income / (expense) from acquisitions and disposals of businesses, the unwind of the discount on deferred contingent consideration from acquisitions and the amortization on acquired intangibles), profit on sale of redundant site, restructuring and other expense, and other share-based compensation charges. A reconciliation to net income is disclosed in Note 4 of this release "Non-GAAP measures". (3) Adjusted EBITDA is defined as profit on operations before taxation for the period, finance income (which comprises interest received) and costs (which comprises interest costs, IAS 19R retirement benefits finance charge and the unwind of the discount on deferred contingent consideration from acquisitions), other income / (expense) from acquisitions and disposals of businesses, profit on sale of redundant site, restructuring and other expense, other share-based compensation charges, depreciation and amortization and loss on disposal of property, plant and equipment. A reconciliation to net income is disclosed in Note 4 of this release "Non-GAAP measures".

ABOUT LUXFER GROUP

Luxfer Group is a global materials technology group focused on sustained value creation using its broad array of technical know-how and proprietary materials technologies. The company specializes in the design and manufacture of high-performance materials, components and high-pressure gas-containment devices for environmental, healthcare, protection and specialty end-markets. Luxfer customers include both end-users of its products and manufacturers that incorporate Luxfer products into finished goods. For more information, visit www.luxfer.com.

Luxfer Group is listed on the New York Stock Exchange, and its American Depositary Shares (ADSs) trade under the ticker LXFR.

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