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Alliance One International, Inc.
8001 Aerial Center Parkway
Post Office Box 2009
Morrisville, NC 27560-2009
Tel: 919 379 4300
Fax: 919 379 4346
|NEWS RELEASE||Contact:||Joel Thomas|
Alliance One International Reports Positive Fiscal First Quarter 2019 Results and Continued Progress on One Tomorrow Transformation Initiatives
Morrisville, NC August 2, 2018 Alliance One International, Inc. (NYSE: AOI) today announced results for its fiscal quarter ended June 30, 2018.
Everything we do is to transform peoples lives so that together we can grow a better world.
|||Total sales and other operating revenues increased 5.1% to $291.0 million as crops in South America and other origins returned to a more normalized cycle when compared to the same period last fiscal year.|
|||Gross profit increased 44.8% to $41.4 million, and gross profit as a percentage of sales also improved to 14.2% this year compared to 10.3% last year.|
|||Operating income increased $5.3 million to $4.7 million.|
|||Net loss attributable to Alliance One International, Inc. for the quarter improved to $0.8 million compared to $32.5 million last year and adjusted EBITDA improved 93.7% to $19.4 million.|
* See Non-GAAP Financial Information section below for more details.
Pieter Sikkel, President and Chief Executive Officer, said, This fiscal year is off to a strong start and progressing in line with our expectations. We are building positive momentum in our leaf business and making continued progress on our One Tomorrow transformation initiative announced earlier this year. The impact of further uniting our employees behind a shared purpose to transform peoples lives so that together we can grow a better world continues to produce enhanced results for our farmers, customers, employees and shareholders.
Our solid financial performance in the first quarter was built on the success of operating improvements that began in fiscal 2018. We saw improvements in total sales and other operating revenues, gross profit, gross profit as a percentage of sales and adjusted EBITDA compared to the same period last year. Balance sheet management is a priority for fiscal 2019 and strong operating plans have been put in place to support our objectives, which include measured inventory reductions and associated decreases in debt by fiscal year end. We continue to optimize our global footprint and have taken steps to capitalize on opportunities in regional markets, further positioning our leaf business to meet the evolving needs of tobacco product manufacturers. Our business is on track to deliver the full year results consistent with our previously announced guidance.
The investments we have made in agronomy services and our track-and-trace technology remain an integral component of all aspects of our business. As our contracted farmer base continues to increase the yields of their non-tobacco crops, we are actively working to build the value-added processes that will support the diversification of their incomes. By keeping the farmer at the center of everything we do, we are able to confidently provide customers across all of our business lines with sustainable and traceable agricultural products, ingredients and services.
The following information was filed by Alliance One International, Inc. (AOI) on Thursday, August 2, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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