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FOR IMMEDIATE RELEASE
HEADWATERS INCORPORATED ANNOUNCES
FOURTH QUARTER AND FISCAL 2014 RESULTS
· FY 2014 Revenue Increased 13% to $791 Million
· FY 2014 Adjusted EBITDA Increased 19% to $138 Million
· FY 2014 Operating Income Increased 23% to $67 Million
· FY 2014 Adjusted EPS from Continuing Operations Increased 30% to $0.70
SOUTH JORDAN, UTAH, NOVEMBER 4, 2014 (NYSE: HW) HEADWATERS INCORPORATED, a building products company dedicated to improving lives through innovative advancements in construction materials, today announced results for its fourth quarter and fiscal year ended September 30, 2014.
Fourth Quarter 2014 Highlights
· Thirteen consecutive quarters of year-over-year revenue and Adjusted EBITDA growth
· Revenue grew 14% year-over-year, including 5% organic growth in our two core segments
· Light building products revenue increased 26% and operating income increased 49%
· Heavy construction materials gross margin increased 270 basis points and Adjusted EBITDA margin increased 190 basis points
· Consolidated Adjusted EBITDA increased 25% and Adjusted EBITDA margin expanded more than 160 basis points
· Net debt ratio decreased to 3.2x despite 2014 debt raise of $150 million
· Due to strong cash flow from operations, cash and cash equivalents increased $38 million during the quarter to $153 million
The following information was filed by Headwaters Inc (HW) on Tuesday, November 4, 2014 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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