Acquisition pays off for Hawkins
United States chemical distributor Hawkins, Inc. (Roseville (Minneapolis), MN, United States) earlier this week published results for Q2-FY2017. Sales for the three months ended on 02.10.2016 were USD 121.25 mn, an increase of 28.2% over the same period in fiscal 2016. Operating Income was USD 12.1 mn, up from USD 9.51 mn over the second quarter of fiscal 2016, an increase of 28%. Net Income was USD 7.2 mn or USD 0.68 per diluted share. This compares with a figures of US$ 5.7 mn and USD 0.54 in fiscal 2016, respectively.
President and CEO Patrick Hawkins attributes ca. 50% of the increase in Operating Income to the newly added Health & Nutrition business segment, which Hawkins established with the acquisition of Stauber Performance Ingredients (Fullerton, CA, United States) in December 2015 https://districonsult.com/hawkins-completes-stauber-acquisition/. A more favourable product mix with higher gross margins and reduced operations expenses also contributed.
Source: Hawkins press release
HGE – DCG / 04.11.2016