Hawkins with higher Sales but lower Net Income

United States chemical distributor Hawkins, Inc. (Roseville (Minneapolis), MN, United States) last week published results for Q1-FY2018. Sales for the three months ended on 02.07.2017 were USD 133.7 mn, an increase of 1.8% over the same period in fiscal 2017. Gross Profit was USD 26.0 mn (equivalent to 19.4% of sales), a decrease of USD 2.2 from USD 28.2 mn or 21.5% of sales in  the first quarter of fiscal 2017. Net Income was USD 5.8 mn or USD 0.55 per diluted share. This compares with a figures of US$ 7.6 mn and USD 0.72 for the same period in fiscal 2017, respectively.

At its recent meeting the Bord of Director of Hawkins declared a semi-annual cash dividend of USD 0.44 per share, payable on 06.10.2017 to shareholders of record at the close of business on 22.09.2017. Hawkins said this will be the 32nd consecutive year of dividend payment, since its initial payout in 1985.

Source: Hawkins press releases

HGE – DCG / 14.08.2017