Green Coffee Pounds Increased 6.9%
Income from Operations Increased $1.8 million; Net Income Increased $0.4 million
EBITDA Up 52.7%; Adjusted EBITDA Up by 24.0%
NORTHLAKE, Texas, May 09, 2017 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ:FARM) (the "Company") today reported financial results for the third quarter ended March 31, 2017.
Third Quarter Fiscal 2017 Highlights:
- Volume of green coffee pounds processed and sold increased 6.9% year-over-year
- Gross profit increased 2.4% to $53.8 million
- Income from operations increased $1.8 million to $2.1 million
- Net income increased $0.4 million to $1.6 million
- EBITDA increased 52.7% to $10.0 million and EBITDA Margin was 7.3% an increase of 240 basis points year-over-year*
- Adjusted EBITDA increased 24.0% to $12.2 million, and Adjusted EBITDA Margin was 8.8%, an increase of 150 basis points year-over-year*
- Fully diluted EPS increased to $0.10 from $0.07 in the prior period of last year
(*The non-GAAP financial measures included above are reconciled to their corresponding GAAP measures in the full report).
