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DXP Enterprises Inc (NASDAQ:DXPE) Announces Fourth Quarter and Fiscal 2017 Results

DXP Enterprises Inc (NASDAQ:DXPE) has announced the financial results for the last quarter of 2017.  The company recorded $265.6 million in sales which represents an increase of 5.4 percent compared to what was reported in the third quarter. This increase also represents 19.5 percent above what the company reported in the fourth quarter of 2016.

The company’s earnings per diluted share were $0.36 on a total of 18.2 million diluted shares. This is compared to $0.42 per share based on 17.4 million diluted shares which were reported in the fourth quarter of 2016. The EBITDA for the quarter amounted to $15.8 million as compared to $13.5 million that was reported in the third quarter. This translates to a 17.1 percent increase.  Free cash flow for the quarter stood at $3.4 million which translates to 21.3 percent of the EBITDA.

Fiscal Year 2017 financial highlights

During the fiscal year 2017, the company reported sales amounting to $1.0 billion compared to the $962.1 million which was reported in the fiscal year 2016. This represents a 4.6 percent increase. During the fiscal year, the company’s gross profit amounted to $271.6 million or 27.0 percent of the total fiscal year sales. This is compared to$264.8 million which was reported in 2016.  General and administrative expenses during the fiscal year amounted to $238.1 million or 23.7 percent of the total fiscal year sales. This is compared to the $245.5 million that the company reported in 2016.

In the fiscal year 2017, then company’s earnings per diluted share went up by 89.8 percent to $0.93 on a total of 18.2 million diluted shares. This is compared to $0.49 per diluted share based upon 15.9 million diluted shares in 2016. During the fiscal year, EBITDA stood at $61.7 million which is above the $55.2 million that was reported in the fiscal year 2016. EBITDA represents 6.1 percent of the total sales during the fiscal year 2017.

Free cash flow for the fiscal 2017 was $9.7 million. This is compared to the $43.1 million reported in the fiscal 2016.

About the author

Adam Loreen

Loreen covers the Crypto/Blockchain sector for Investing News Center.

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