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Alliance One International, Inc. Tel: 919 379 4300
8001 Aerial Center Parkway Fax: 919 379 4346
Post Office Box 2009 www.aointl.com
Morrisville, NC 27560-2009
Contacts: Joel L. Thomas
Sales decreased 12.3% to $2,065.9 million primarily due to the impact of a Brazilian subsidiary that was deconsolidated following completion of a joint venture in March 2014, as well as lower full service volumes and reduced average sales price as a result of global oversupply.
Gross profit increased 6.3% to $255.1 million and gross profit as a percentage of sales also improved to 12.3% this year from 10.2% last year.
SG&A was down 6.8% or $9.1 million after adjusting for unusual customer receivable reserves in both fiscal year 2015 and 2014.
Adjusted EBITDA improved 9.8% to $173.2 million and was 8.4% of sales.
The Company purchased and cancelled $15.0 million of its Senior Secured Second Lien Notes during fiscal 2015 leaving $720.0 million of face amount outstanding.
Total debt less cash divided by Adjusted EBITDA improved to 5.36x compared to 5.60x last year-end.
Sales increased 19.9% to $738.1 million.
Gross profit increased 80.3% to $78.8 million and gross profit as a percentage of sales improved to 10.7% this year compared to 7.1% last year.
Adjusted EBITDA improved 188.5% to $59.3 million and was 8.0% of sales.
The Company purchased and cancelled $5.0 million of its Senior Secured Second Lien Notes during the quarter.
The Company initiated implementation of the first phase cost reduction and efficiency improvement program in March 2015 to achieve $30.0 to $35.0 million of anticipated recurring annualized savings that will begin to be recognized in fiscal year 2016 as part of a multi-phase plan.
The following information was filed by Alliance One International, Inc. (AOI) on Monday, June 8, 2015 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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