GCP Applied Technologies Reports Q4 and Full-Year Results
Files Form 10-K with Securities and Exchange Commission
Cambridge, MA - March 29, 2016 - GCP Applied Technologies, Inc. (NYSE: GCP) today announced fourth quarter and full year 2015 results. The business performance results communicated today contain no material changes from GCP’s Preliminary Earnings release which was issued on February 18, 2016.
GCP’s SEC Form 10-K was also filed today and contains additional details of the full year results. The filing also contains management’s commentary on its three operating segments - Specialty Construction Chemicals, Specialty Building Materials, and Darex Packaging Technologies.
GCP President and Chief Executive Officer Gregory Poling said “We are on-track and achieving all of our key milestones, including delivering solid results in 2015. We grew net sales on a combined constant currency basis, expanded adjusted EBIT margins, and positioned the business for continued earnings growth as an independent company. Now that we have successfully completed the separation of GCP from Grace, our team is focused on the future, and building our business by providing customers with high-value products and services.”
Results reported today reflect a Form 10 basis of presentation. The full year 2015 includes the effect on net income of the devaluation of GCP’s Venezuela business in the third quarter, as well as the unfavorable mark-to-market pension adjustment and a higher effective tax rate.
Q1 Investor Call
The first quarter 2016 results will be released in early May. The Company will conduct an earnings call and webcast at that time.
The following information was filed by Gcp Applied Technologies Inc. (GCP) on Wednesday, March 30, 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.
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Ticker: GCP CIK: 1644440 Form Type:10-K Annual Report Accession Number: 0001644440-16-000174 Submitted to the SEC: Tue Mar 29 2016 7:51:43 PM EST Accepted by the SEC: Wed Mar 30 2016 Period: Thursday, December 31, 2015 Industry: Chemicals And Allied Products