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• | 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 |
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