SPY383.63+6.93 1.84%
DIA315.24+5.66 1.83%
IXIC12,920.15+196.68 1.55%

Press Release: CSW Industrials Reports Fiscal -4-

· 02/05/2021 07:30
CSW INDUSTRIALS, INC. RECONCILIATION OF OPERATING INCOME TO ADJUSTED OPERATING INCOME FROM CONTINUING OPERATIONS (Unaudited) (Amounts in thousands) ------- ------- ------- ----------- Three Months Ended December Nine Months Ended 31, December 31, ---------------- -------------------- 2020 2019 2020 2019 ------- ------- ------- ----------- GAAP Operating Income, Continuing Operations $ 4,116 $10,488 $42,550 $50,932 Adjusting items: Gain on sale of property & other -- -- -- (776) Transaction costs and other professional fees 7,960 -- 7,960 -- ------- ------- ------- ------- Adjusted Operating Income, Continuing Operations $12,076 $10,488 $50,510 $50,156 ====== ====== ====== ====== CSW INDUSTRIALS, INC. RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME, CONTINUING OPERATIONS (Unaudited) Three Months Ended December Nine Months Ended 31, December 31, --------------- -------------------- (Amounts in thousands, except share data) 2020 2019 2020 2019 ------ ------- ------- ----------- GAAP Net Income, Continuing Operations $2,346 $7,282 $30,660 $31,445 Adjusting items, net of tax: Gain on sale of property & other -- 357 -- (225) Transaction costs and other professional fees 6,499 -- 6,499 -- Pension Termination -- -- -- 5,377 Discrete Tax Provisions & Other -- (267) -- (811) ------ ------ ------- ------- Adjusted Net Income, Continuing Operations $8,845 $7,372 $37,159 $35,786 ===== ===== ====== ====== GAAP Net Income per diluted common share, Continuing Operations $ 0.16 $ 0.48 $ 2.06 $ 2.07 Adjusting items, per diluted common share: Gain on sale of property & other -- 0.02 -- (0.02) Asset Impairment -- -- -- -- Transaction costs and other professional fees 0.43 -- 0.43 -- Pension Termination -- -- -- 0.35 Discrete Tax Provisions & Other -- (0.02) -- (0.05) ------ ------ ------- ------- Adjusted Net Income per diluted common share $ 0.59 $ 0.48 $ 2.49 $ 2.35 ===== ===== ====== ====== CSW INDUSTRIALS, INC. RECONCILIATION OF SEGMENT OPERATING INCOME TO ADJUSTED SEGMENT OPERATING INCOME (Unaudited) Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 ---------------------------------------------------- ---------------------------------------------------- Corporate Consolidated Corporate Consolidated Industrial Specialty and Continuing Industrial Specialty and Continuing (Amounts in thousands) Products Chemicals Other Operations Products Chemicals Other Operations ------------ ----------- --------- -------------- ------------ --------- --------- ---------------- Revenue $ 58,786 $ 31,146 $ -- $ 89,932 $ 48,673 $ 35,043 $ -- $ 83,716 Operating Income $ 2,998 $ 4,715 $ (3,597) $ 4,116 $ 8,643 $ 5,414 $ (3,569) $ 10,488 Adjusting items: Transaction costs and other professional fees 6,919 1,041 -- 7,960 -- -- -- -- ------------ ----------- -------- -------------- ------------ -------- -------- ------------ Adjusted Operating Income $ 9,917 $ 5,756 $ (3,597) $ 12,076 $ 8,643 $ 5,414 $ (3,569) $ 10,488 === ======= === ====== ======= === ========= === ======= ======= ======= ======== % of Revenue 16.9% 18.5% 13.4% 17.8% 15.4% 12.5% Nine Months Ended December 31, 2020 Nine Months Ended December 31, 2019 ---------------------------------------------------- ---------------------------------------------------- Corporate Consolidated Corporate Consolidated Industrial Specialty and Continuing Industrial Specialty and Continuing (Amounts in thousands) Products Chemicals Other Operations Products Chemicals Other Operations ------------ ----------- --------- -------------- ------------ --------- --------- ---------------- Revenue $ 192,518 $ 93,318 $ -- $ 285,836 $ 174,794 $112,579 $ -- $ 287,373 === ======= === ====== ======= === ========= === ======= ======= ======= ======== Operating Income $ 39,032 $ 14,476 $(10,958) $ 42,550 $ 42,099 $ 19,179 $(10,346) $ 50,932 Adjusting items: Gain on sale of property and other -- -- -- -- -- (776) -- (776) Transaction costs and other professional fees 6,919 1,041 -- 7,960 -- -- -- -- ------------ ----------- -------- -------------- ------------ -------- -------- ------------ Adjusted Operating Income $ 45,951 $ 15,517 $(10,958) $ 50,510 $ 42,099 $ 18,403 $(10,346) $ 50,156 === ======= === ====== ======= === ========= === ======= ======= ======= ======== % of Revenue 23.9% 16.6% 17.7% 24.1% 16.3% 17.5%

We use adjusted earnings per share, adjusted net income and adjusted operating income, together with financial measures prepared in accordance with GAAP, such as revenue, income from operations, operating expense, operating income and net income, to assess our historical and prospective operating performance and to enhance our understanding of our core operating performance. We also believe these measures are useful for investors to assess the operating performance of our business without the effect of non-operating items.

(END) Dow Jones Newswires

February 05, 2021 07:30 ET (12:30 GMT)