Exhibit 99.1

 

Alliance One International, Inc.

8001 Aerial Center Parkway

Post Office Box 2009

Morrisville, NC 27560-2009

USA

 

Tel:     919 379 4300

Fax:    919 379 4346

www.aointl.com

      LOGO  

NEWS RELEASE

       Contact:      Joel Thomas
        (919) 379-4300

Alliance One International Reports Improved Fiscal Year 2016 and Fourth Quarter Earnings

Morrisville, NC – July 12, 2016 –

Alliance One International, Inc. (NYSE: AOI) today announced results for its fiscal year and fourth quarter ended March 31, 2016.

Highlights

Fiscal Year 2016

 

    Earnings per basic share improved to $7.38, compared to a net loss of $3.16 last year.

 

    Net income increased to $65.5 million from a net loss of $27.9 million last year and included a $106.2 million gain related to the reconsolidation of AOI’s Zimbabwe subsidiary at the end of the fourth quarter.

 

    Adjusted EBITDA excluded the Zimbabwe subsidiary gain and remained consistent at $190.2 million, while as a percentage of sales improved to 10.0% from 9.2% last year.

 

    SG&A improved 9.8% to $123.5 million driven by efficiency and cost reduction initiatives and included $8.6 million of Kenyan-related legal and professional costs.

Fourth Quarter

 

    Earnings per basic share for the fourth fiscal quarter improved to $11.33 from $0.27 last year.

 

    Net income improved to $100.8 million from $2.4 million last year.

 

    Sales remained stable at $732.3 million, the second best quarter in Company history.

Pieter Sikkel, Chief Executive Officer and President, said, “Despite a challenging foreign exchange environment with a strengthening U.S. dollar, quality impacts from El Nino weather patterns, smaller crops in some markets and oversupply leaf trading conditions, net income increased to $65.5 million from a net loss of $27.9 million last year, and included a $106.2 million gain related to the reconsolidation of our Zimbabwe subsidiary. After excluding, among other items, the Zimbabwe subsidiary gain, legal and professional costs associated with the Kenyan matter, the impact of the curtailment of green leaf sourcing in Kenya, and including results from our Zimbabwe operation not included in consolidated results, adjusted EBTIDA was $190.2 million, consistent with the prior year.

“Global supply and demand appears to be moving toward equilibrium with further reduced crop sizes anticipated. Important to our full year results, fourth quarter sales improved to $732.3 million, up slightly over last year, and was the second best quarter in the Company’s history. For the year and despite full service volume increases, sales decreased 7.9% to $1,904.6 million. Excluding Kenya we have seen improved performance in Africa, South America and Asia, while weather-related crop size reductions, poor quality crops and the strong dollar affected our North American and European regions in fiscal year 2016.


The following information was filed by Alliance One International, Inc. (AOI) on Tuesday, July 12, 2016 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.

View differences made from one year to another to evaluate Alliance One International, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alliance One International, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account