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SEC Filings

10-Q
FORTERRA, INC. filed this Form 10-Q on 08/09/2018
Entire Document
 

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements
FORTERRA, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)

 
Three months ended
 
Six months ended
 
June 30,
 
June 30,
 
2018
 
2017
 
2018
 
2017
 
(unaudited)
 
(unaudited)
Net sales
$
416,087

 
$
436,685

 
$
706,047

 
$
774,987

Cost of goods sold
340,774

 
361,089

 
596,369

 
660,424

Gross profit
75,313

 
75,596

 
109,678

 
114,563

Selling, general & administrative expenses
(51,263
)
 
(67,297
)
 
(103,125
)
 
(132,598
)
Impairment and exit charges
(276
)
 
(11,376
)
 
(1,721
)
 
(11,811
)
Earnings from equity method investee
3,672

 
3,342

 
5,521

 
6,513

Other operating income, net
4,536

 
2,010

 
5,326

 
3,243

 
(43,331
)
 
(73,321
)
 
(93,999
)
 
(134,653
)
Income (loss) from operations
31,982

 
2,275

 
15,679

 
(20,090
)
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
Interest expense
(17,745
)
 
(17,078
)
 
(31,053
)
 
(30,620
)
Other income, net

 

 
6,016

 

Income (loss) before income taxes
14,237

 
(14,803
)
 
(9,358
)
 
(50,710
)
Income tax (expense) benefit
(7,243
)
 
3,630

 
(3,558
)
 
16,994

Net income (loss)
$
6,994

 
$
(11,173
)
 
$
(12,916
)
 
$
(33,716
)
 
 
 
 
 
 
 
 
Basic and Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Net income (loss)
$
0.11

 
$
(0.18
)
 
$
(0.20
)
 
$
(0.53
)
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic
63,893

 
63,793

 
63,865

 
63,791

Diluted
64,209

 
63,793

 
63,865

 
63,791


See accompanying notes to unaudited condensed consolidated financial statements


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