Burckhardt Compression Reports Consolidated Earnings Results for the Full Year Ended March 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017
June 06, 2016
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Burckhardt Compression reported consolidated earnings results for the full year ended March 31, 2016. For the period, the company reported sales of CHF 487,235,000 against CHF 473,644,000 a year ago. Operating income was CHF 72,978,000 against CHF 74,592,000 a year ago. Profit before income tax was CHF 71,291,000 against CHF 73,787,000 a year ago. Net income was CHF 55,505,000 or CHF 16.34 per diluted share against CHF 57,555,000 or CHF 16.93 per diluted share a year ago. Cash flow from operating activities was CHF 40,726,000 against CHF 46,842,000 a year ago. Purchase of property, plant and equipment was CHF 41,293,000 against CHF 17,176,000 a year ago. Purchase of intangible assets was CHF 5,402,000 against CHF 6,207,000 a year ago.
The company provided earnings guidance for the fiscal year ending March 31, 2017. Group sales are forecasted to be well above CHF 500 million and the operating profit margin (excl. Shenyang Yuanda Compressor) is expected to recede temporarily to 11% to 13% in the fiscal year 2016 before rising again in the fiscal year 2017 (excl. Shenyang Yuanda Compressor) to 14% to 16%.
Burckhardt Compression Holding AG is a Switzerland-based manufacturer of reciprocating compressors. The Company's product portfolio comprises compressor valves, rings, capital parts, labyrinth piston compressor components, and hyper and secondary compressor components. Its customized compressor systems are used in the upstream and downstream oil and gas, gas transport and storage, refinery, chemical, petrochemical and industrial gas sectors. The Company also provides related services, such as repair and maintenance, installation, condition monitoring and diagnostics, and spare parts. It is present in more than 80 countries and operates production and assembly facilities in Switzerland, India, China, the United States and South Korea.
Burckhardt Compression Reports Consolidated Earnings Results for the Full Year Ended March 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017