Hawkins with higher Sales and Net Income

United States chemical distributor Hawkins, Inc. (Roseville (Minneapolis), MN, United States) last week published results for Q3-FY2019. Sales for the three months ended on 30.12.2018 were USD 128.2 mn, an increase of 9% over the same period in fiscal 2018. Gross Profit was USD 21.0 mn (equivalent to 16.4% of sales), an increase of USD 2.2 over the USD 18.8 mn or 16.0% of sales in  the third quarter of fiscal 2018. EBITDA was USD 12.5 mn (9.7% of sales), which compares with USD 10.5 mn or 8.9% of sales in the same period of FY2018. Net Income was USD 4,1 mn or USD 0.39 per diluted share. This compares with a figures of USD 17.1 mn and USD 0.61 for the same period in fiscal 2018, respectively. Hawkins also said the company made year-to-date debt payments of USD 10mn, bring the net debt level  down by USD 12.4 mn (including higher cash on hand) compared to end of FY2018.

At its recent meeting the Bord of Director of Hawkins declared a quarterly cash dividend of USD 0.23 per share, payable on 08.03.2019 to shareholders of record at the close of business on 22.02.2019. Hawkins said this will be the 34th consecutive year of dividend payment, since its initial payout in 1985.

Source: Hawkins press releases

HGE – DCG / 11.02.2019