Aep Industries Inc (AEPI) 10K Annual Reports & 10Q SEC Filings


FOR IMMEDIATE RELEASE		Contact: Paul M. Feeney
		Executive Vice President, Finance and Chief Financial Officer
		AEP Industries Inc.
		(201) 807-2330
		feeneyp@aepinc.com

AEP INDUSTRIES INC. REPORTS FISCAL 2016 RESULTS

Special Meeting of Stockholders Scheduled for January 18, 2017 at 10:00 a.m. ET to Approve

Pending Merger with Berry Plastics

Montvale, NJ, January 13, 2017 – AEP Industries Inc. (Nasdaq: AEPI) (the “Company” or “AEP”) today reported financial results for its fiscal year ended October 31, 2016.

Net sales for fiscal 2016 decreased $45.6 million, or 4% to $1,095.8 million from $1,141.4 million for fiscal 2015. Average sell prices decreased 6% primarily due to the pass through of lower resin costs partially offset by a 3% increase in sales volume.

Net income for fiscal 2016 was $28.8 million, or $5.60 per diluted share, as compared to net income of $28.8 million, or $5.64 per diluted share, for fiscal 2015. Net income for fiscal 2016 included an increase in operating expenses of $3.6 million as a result of higher employee cash performance incentives and costs associated with the proposed merger with Berry Plastics Group, Inc. (“Berry”), and $2.1 million of interest expense related to the call premium payment and the write-off of debt fees associated with the partial redemption of our 2019 senior notes, partially offset by an increase of $8.7 million in gross profit primarily due to improved material margins and an increase in volumes sold. Net income for fiscal 2015 included a $1.2 million gain related to the sale of a warehouse in Texas.

Adjusted EBITDA (defined below) was $112.8 million for fiscal 2016 as compared to $76.1 million in fiscal 2015.

The following information was filed by Aep Industries Inc (AEPI) on Friday, January 13, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Aep Industries Inc provided additional information to their SEC Filing as exhibits

Exhibit 21: Ex21

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AEPI
CIK: 785787
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-010915
Submitted to the SEC: Tue Jan 17 2017 2:12:25 PM EST
Accepted by the SEC: Tue Jan 17 2017
Period: Monday, October 31, 2016
Industry: Unsupported Plastics Film And Sheet