Last10K.com

Dmc Global Inc. (BOOM) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Dmc Global Inc.

HISTORY TOOLS
CIK: 34067 Ticker: BOOM
letterheadpage2v2a05.jpg

Exhibit 99.1
                                    
 
 
FOR IMMEDIATE RELEASE:
CONTACT:
 
Geoff High, Vice President of Investor Relations
 
303-604-3924

DMC GLOBAL REPORTS RECORD THIRD QUARTER FINANCIAL RESULTS

•
Third quarter sales were a record $87.9 million, up 68% from Q3 2017 and 9% sequentially
•
DynaEnergetics sales increased 12% sequentially while NobelClad’s declined 2% sequentially; both businesses exceeded forecasted sales
•
Consolidated gross margin was 34% versus 33% in Q3 2017 and 33% in Q2 2018
•
Net income was $4.9 million, or $0.33 per diluted share; adjusted net income* was $10.0 million, or $0.68 per diluted share
•
Adjusted EBITDA* of $17.2 million was up 23% sequentially and 100% versus Q3 2017
•
DynaEnergetics resolves 2015 anti-dumping case; will tender one-time $8 million penalty in Q4 2018; penalty fully accrued as of Q3 2018
•
DynaEnergetics successfully defends itself in third consecutive patent infringement action brought by a competitor

BOULDER, Colo. - October 25, 2018 - DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its
third quarter ended September 30, 2018.

Consolidated sales were a quarterly record $87.9 million, up 68% versus the third quarter of 2017 and up 9% sequentially from the 2018 second quarter. The results, which exceeded management’s forecasted range of $82 million to $85 million, principally were driven by strong demand and an expanding customer base at DynaEnergetics, DMC’s oilfield products business. Sales at NobelClad, DMC’s explosion welding business, also exceeded forecasts.

Third quarter gross margin was 34% versus 33% in the year-ago third quarter and 33% in the second quarter. The improvement primarily resulted from higher proportional sales from DynaEnergetics versus NobelClad, as well as higher average selling prices at DynaEnergetics and an improved project mix at NobelClad.

Operating income was $8.8 million versus an operating loss of $12.4 million in last year’s third quarter, which included a $17.6 million goodwill impairment charge. Net income was $4.9 million, or $0.33 per diluted share, versus net loss of $14.1 million, or a loss of $0.98 per diluted share, in last year’s third quarter.

Excluding $192,000 in restructuring expenses at NobelClad and $4.9 million of accrued anti-dumping penalties at DynaEnergetics, adjusted operating income* was $13.9 million and adjusted net income was $10.0 million, or $0.68 per diluted share.

Subsequent to the close of the third quarter, DynaEnergetics was notified by U.S. Customs of its decision to assess an $8.0 million penalty with respect to a 2015 anti-dumping and countervailing duties case. The Company previously estimated a potential penalty range of $3.1 million to $12.4 million. DynaEnergetics, which has elected not to continue its appeals in the case, recorded an accrual for potential penalties of $3.1 million in the first quarter of 2018 and an additional $4.9 million in the third quarter of 2018. DMC plans to tender the $8.0 million in the fourth quarter of 2018.



The following information was filed by Dmc Global Inc. (BOOM) on Thursday, October 25, 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.

View differences made from one quarter to another to evaluate Dmc Global 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-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Dmc Global Inc..

Continue

Assess how Dmc Global Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Dmc Global Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Legal
Financial
Revenue
Other
Filter Subcategory:
All
Expense
Earnings
Product
Income
Dividend
Cash Flow
Other
Inside Dmc Global Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Basis Of Presentation
Business Segments
Business Segments (Tables)
Business Segments - Disaggregation Of Revenue By Geographic Location (Details)
Business Segments - Segment Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Future Minimum Commitment Payments (Details)
Contract Liabilities
Contract Liabilities (Details)
Contract Liabilities (Tables)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Debt (Details)
Derivative Instruments
Derivative Instruments - Gain/(Loss) Recognized In Income On Derivatives (Details)
Derivative Instruments - Narrative (Details)
Derivative Instruments (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Purchased Intangible Assets
Purchased Intangible Assets (Details)
Purchased Intangible Assets (Tables)
Restructuring
Restructuring (Tables)
Restructuring - Rollforward Of Restructuring Charges (Details)
Restructuring - Summary Of Restructuring Charges (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Earnings Per Share (Details)
Significant Accounting Policies - Narrative (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: BOOM
CIK: 34067
Form Type: 10-Q Quarterly Report
Accession Number: 0000034067-18-000034
Submitted to the SEC: Thu Oct 25 2018 12:31:22 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Miscellaneous Primary Metal Products

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/boom/0000034067-18-000034.htm