Westwood, MA 鈥�April 18, 2018听鈥撎�(NYSE American: CCF), announced that it has sold its structural composites rod business to Roblon US, Inc. for a purchase price of approximately $2,100,000, pending any working capital adjustments and excluding any future royalty payments to be made by the buyer. The transaction, entered today, is set to close on April 20, 2018. The substantially full divestiture of the structural composites business follows 新澳彩开奖鈥檚 sale of the RodPack庐 wind blade components business in November 2015, and the licensing of certain composite technologies during the second quarter of fiscal 2018, both to separate and unrelated firms. 新澳彩开奖鈥檚 sale of its structural composites rod business to Roblon in April 2018 follows the Company鈥檚 sale of its fiber optic cable components business, also to Roblon, in April 2017.

Adam P. Chase, 新澳彩开奖鈥檚 President and Chief Executive Officer, commented,

鈥淭he sale of this business that supports the wind energy industry to Roblon is a continuation of an orderly exit for 新澳彩开奖 as part of our strategy to focus on our core activities centered on specialty chemicals based protective materials. Roblon U.S.A. continues to be an excellent partner who is focused on this business area.鈥�

Production of fiber composite base rod, which is sold into the wind energy market for use in wind turbine blade construction, will continue at 新澳彩开奖鈥檚 Granite Falls, NC facility, where Roblon leases space.

Contact:

Paula Myers
Shareholder & Investor Relations Department
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贰-尘补颈濒:听听听听听颈苍惫别蝉迟辞谤谤别濒补迟颈辞苍蝉蔼肠丑补蝉别肠辞谤辫.肠辞尘
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新澳彩开奖, founded, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high reliability applications throughout the world.

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential,鈥� among others. These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations. The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements. In order to comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products; the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥�April 4, 2018听鈥撎�(NYSE American: CCF), a global specialty chemicals company that is a leading manufacturer of protective materials for high-reliability applications, today announced financial results for the quarter ended February 28, 2018, its second quarter of fiscal 2018.

HIGHLIGHTS 鈥� Q2 2018 vs. Q2 2017

GAAP Financials

• Revenue of $65.88 million, up $8.57 million, or 15%, from $57.31 million
• Operating income of $11.35 million, down $1.56 million, or 12%, from $12.91 million
• Net income of $10.12 million, up $1.74 million, or 21%, from $8.38 million
• Earnings per diluted share (鈥淓PS鈥�) of $1.07, up $0.18, or 20%, from $0.89

Non-GAAP Financial Measures *

• Adjusted diluted EPS of $1.10, up $0.23, or 26%, from $0.87
• EBITDA of $16.46 million, down $0.12 million, or 1%, from $16.59 million
• Adjusted EBITDA of $17.30 million, up $0.76 million, or 5%, from $16.54 million

HIGHLIGHTS 鈥� YTD Q2 2018 vs. YTD Q2 2017

GAAP Financials

• Revenue of $127.79 million, up $9.13 million, or 8%, from $118.67 million
• Operating income of $24.32 million, down $2.30 million, or 9%, from $26.61 million
• Net income of $18.44 million, down $0.31 million, or 2%, from $18.75 million
• EPS of $1.95, down $0.04, or 2%, from $1.99

Non-GAAP Financial Measures *

• Adjusted diluted EPS of $1.97, up $0.08, or 4%, from $1.89
• EBITDA of $32.68 million, down $2.32 million, or 7%, from $34.99 million
• Adjusted EBITDA of $33.51 million, down $1.44 million, or 4%, from $34.96 million

*听 Reconciliations of the non-GAAP financial measures to Chase鈥檚 GAAP financial results are included at the end of this release.听 See also 鈥淯se of Non-GAAP Financial Measures鈥� below.

Adam P. Chase, President and Chief Executive Officer, commented, 鈥淭he Zappa Stewart acquisition was a key contributor in the second fiscal quarter, which is traditionally our weakest.听 The acquisition provided a revenue boost, but margins were lower than we anticipate on a going-forward basis because of the $1.53 million non-cash, one-time inventory step-up charge we took during the quarter (2.8% gross margin impact for Industrial Materials for the quarter).听 The Zappa Stewart transaction demonstrates our commitment to this important inorganic strategic element in achieving our long-term growth goals. Another inorganic item in the quarter that helped our net income was the sale of a license for composite manufacturing technology to an outside party. We also secured a royalty agreement with the sale, establishing a future revenue stream.

鈥淎 less favorable sales mix along with continued inflationary pressure on inputs eroded gross margins when compared to prior quarters.听 Uncertainty over tariffs and impact on raw material costs and sales pricing will remain a challenge and we continue to act with recovery tactics that lag margin compression effects reflected in our results.听 Structural cost reductions will be implemented to reduce excess capacity and overhead.鈥�

**Adjusted for inventory step up the GM% would be 39% for both the three- and six-month periods ended February 28, 2018

Mr. Chase continued, 鈥淭he Industrial Materials segment revenue, which included $3.53 million in sales from our newly acquired superabsorbent polymers business, Zappa Stewart, increased over the prior year. Our pulling and detection and electronic and industrial coatings product lines continued their trends of organic growth. Throughout the first half of fiscal 2018, pulling and detection has seen increased demand from customers in the utility and telecommunication industries for both infrastructure build and large-scale repair projects. Electronic and industrial coatings鈥� sales increased on expanding automotive and appliance manufacturing industries. Our cable materials product line was again down for the quarter, but on a less sharp decline than seen in our first quarter.鈥�

鈥淥ur Construction Materials segment reversed the unfavorable sales trend seen in the first quarter, resulting in revenue increases over both the prior year periods鈥� noted Mr. Chase. 鈥淪ales of both our domestically-produced oil and gas pipeline and U.K.-produced water and waste water pipeline products saw increases over the prior year benefiting from the rising price of oil and an easing of credit in the Middle East.听 However, our bridge and highway products, which had a solid first quarter, did not surpass the prior year鈥檚 sales in the second quarter, and an overall unfavorable product mix affected the segment鈥檚 bottom line results. Market-addressing pricing tactics have been implemented, and we have effectively passed on cost increases in this segment and expect to respond as needed. We stand poised to excel in the second half of the year, our historically better sales period, as seasonal infrastructure build and repair work ramp up.鈥�

Other matters affecting financial results

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added, 鈥淥ur effective tax rates for the quarter and year-to-date periods were significantly impacted by two factors: The passage of the Tax Cuts and Jobs Act (the 鈥淭ax Act鈥�) in December 2017, and our early adoption of ASU No. 2016-09 at the beginning of the prior year.

鈥淭he Tax Act lowered our rate by a net 12.6 percentage points for Q2 from our Q1 rate, the result of three important factors:

• Discrete transitional tax expenses totaling $1.26 million for the provisional remeasurement of balance sheet tax items relating to net deferred tax assets and uncertain tax positions (FIN 48)
• A one-time transitional tax benefit of $0.71 million for the remeasurement of Foreign Tax Earnings assertion (APB 23) under the new Toll Charge scheme
• Application of the blended tax rate for Q2 and adjustment for the higher rate used in Q1 before enactment

鈥淚n addition, we recognized a discrete tax benefit related to stock-based compensation expense of $0.98 million.听 This item, which is related to our application of ASU No. 2016-09 and was not related to the Tax Act, lowered our effective tax rate in Q2 a further 8.3 percentage points.

鈥淭hese non-recurring expenses and benefits aside, Chase anticipates the lasting and ongoing changes brought about by the Tax Act will result in a lower overall effective tax rate than that historically experienced by the Company. Chase鈥檚 Federal statutory rate for fiscal 2018 is now based on a combination of four months of operations under the old 35% corporate income tax rate, and eight months at the new 21% rate, yielding a 25.7% blended Federal rate.听 Going forward, in fiscal 2019 and beyond, we expect our all-in rate to be approximately 25%, depending on state income tax impact as states adjust to the new Federal rate.

鈥淒ue to the changes in the handling of foreign earnings and the new Toll Tax on those earnings, we have begun repatriating cash held in our U.K. affiliates.听 This cash will be used to pay down debt created with the recent acquisition of Zappa Stewart.

鈥淎dditionally, the negative foreign currency transactional trend observed earlier in our fiscal year continued into Q2. This trend鈥檚 negative effects are amplified when compared to the gains recognized within Other income (expense) in the prior year-to-date period, resulting in a year-to-date $1.04 million swing from gain to loss. Current year losses result from the strengthening British pound sterling against the U.S. dollar. This affects our U.K.-based operations, who make U.S. dollar-denominated sales into the Middle East.鈥�

Mr. Chase also commented, “Intelligently growing the business and reestablishing the superior margins obtained in the prior period through our core strategies remains (and will remain) our focus.

鈥淥ur balance sheet remains strong. As of February 28, 2018, the Company鈥檚 cash on hand was $44.14 million and our $150 million revolving credit facility had $95 million of additional availability. Given our cash balance, profitable results and the untapped portion of our revolving credit facility, we remain amply funded to support both organic and inorganic growth initiatives.鈥�

The following table summarizes the Company鈥檚 financial results for the three and six months ended February 28, 2018 and 2017.

***For the three and six months ended February 28, 2018, represents the aggregate tax-effect assuming a 25.7% tax rate for the items impacting pre-tax income, which is our estimated U.S. statutory Federal tax rate for fiscal year 2018 following the enactment of the Tax Cuts and Jobs Act in December 2017. For the three and six months ended February 28, 2017, represents the aggregate tax-effect assuming a 35% tax rate for the items impacting pre-tax income, our then effective U.S. statutory Federal tax rate.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

Use of Non-GAAP Financial Measures

The Company has used non-GAAP financial measures in this press release. Adjusted net income, Adjusted diluted EPS, EBITDA and Adjusted EBITDA are non-GAAP financial measures.听 The Company believes that Adjusted net income, Adjusted diluted EPS, EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance.听 The Company believes Adjusted net income, Adjusted diluted EPS, EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Cautionary Note Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking.听 These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential鈥�, among others.听 These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations.听 The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements.听 To comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products;听 the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes; and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥撎�January 8,听2018听鈥撎�(NYSE American: CCF) announces financial results for the quarter ended November 30, 2017.

HIGHLIGHTS 鈥� Q1 2018 vs. Q1 2017

GAAP Financials

• Revenue of $61.92 million, up $0.56 million, or 1%, from $61.36 million
• Operating income of $12.96 million, down $0.74 million, or 5%, from $13.71 million
• Net income of $8.32 million, down $2.05 million, or 20%, from $10.36 million
• Earnings per diluted share (鈥淓PS鈥�) of $0.88, down $0.22, or 20%, from $1.10

Non-GAAP Financial Measures *

• EBITDA of $16.21 million, down $2.20 million, or 12%, from $18.41 million
• Adjusted EBITDA of $16.21 million, down $2.20 million, or 12%, from $18.42 million

* Reconciliations of the Non-GAAP financial measures to Chase鈥檚 GAAP financial results are included at the end of this release. See also 鈥淯se of Non-GAAP Financial Measures鈥� below.

Adam P. Chase, President and Chief Executive Officer, commented, 鈥淲e achieved revenue growth over the prior year first quarter, but a less favorable sales mix and the effects of upward price pressures in raw material streams (which were noted in our last earnings release) prevented us from obtaining an operating profit and net income in line with last year’s exceptional first quarter. Gross margin distortion caused by our post-divestiture involvement in certain businesses also affected results. Additionally, certain one-time items in the first quarter of the prior year (the gain on the sale of our Paterson, NJ location, and Resin Designs-related inventory step-up and acquisition-related costs) did not repeat in fiscal 2018. An unfavorable year-over-year swing in foreign exchange and a comparatively unfavorable tax rate were other notable items.

鈥淢aintaining and growing margins and quality of earnings remains our focus,鈥� noted Mr. Chase. 鈥淲e will address the contracted margins noted this period through internal cost structure rationalization efforts along with external supply chain tactical improvements. We remain focused on our strategic vision with our inorganic growth strategy as a key element for achieving long-term sustainable, profitable growth.

Mr. Chase continued, 鈥淥ur Industrial Materials segment鈥檚 top line grew over the prior year quarter with electronic and industrial coatings and pulling and detection products leading the charge. Favorable trends in the global automotive market have benefited the sales of our HumiSeal庐 and Resin Designs庐 branded products, with the electronic and industrial coatings product line obtaining a comparative increase to the prior year. The product line also benefited from having had an additional month of Resin Designs operations in the current year.

Telecommunication infrastructure repair work in Texas and the southeast region of the U.S. following an impactful hurricane season resulted in increased demand for our pulling and detection products. As this repair work winds down, we anticipate continued strong sales on planned infrastructure upgrades. Our cable materials product line did not fare as well as compared to the prior year’s first quarter, and with consolidation and product design changes affecting the industry, there is the potential for this cable materials downturn to continue in the coming period.

“Following the sale of our fiber optic cable components business in April 2017, we have ceased to record further revenue within the product line; however, we continue to provide manufacturing services to the purchaser, which yield a lower overall revenue stream and margin. We have also continued to produce certain wind energy composite materials for the purchaser of the RodPack庐 business following its divesture in fiscal 2016, recognizing margins below our companywide average for fiscal 2018. Both these post-divestiture arrangements were crucial to solidifying the disposition of the businesses, for which gains were recognized at the time.

鈥淢ultiple domestic bridge and highway projects in the New York metro area are using our Rosphalt50庐 product, making for favorable comparative results for our bridge and highway products. However, certain other product lines within our Construction Materials segment did not fare as well in the first quarter, resulting in an overall reduction in segment revenue period-over-period. Sales of our Rye, UK-produced pipeline coating products into water infrastructure projects in the Middle East continued, but at a greatly muted level to those seen in the past.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added, 鈥淔oreign currency transactional gains and losses reversed from a gain in the first quarter of the prior year to a loss in the current year. This swing resulted in an overall negative delta of $0.8 million, recognized within Other income (expense). This change was mainly the effect of the strengthening British pound sterling against the U.S. dollar in the current year.

鈥淥ur current quarter effective tax rate was 34.0%, compared to 29.3% recognized in the same period of fiscal 2017. This change in rate further distorts the comparison to Q1 of 2017 results. The period-over-period volatility in our effective tax rate resulted from our continued application of ASU 2016-09, adopted in the first quarter of the prior year. Given the nature of stock option exercise activity in the current quarter, no benefit was recognized in the current quarter. Volatility in our tax rate based on ASU 2016-09 can be expected to continue.

鈥淭he passage of the Tax Cuts and Jobs Act of 2017 during our second fiscal quarter is expected to affect the Company鈥檚 future results and financial position in multiple ways. For the whole of fiscal 2018, the Company anticipates incorporating in its annual effective rate a blended U.S. tax rate, which will likely cause the rate to be lower than the 34.0% recognized in the first quarter. The new corporate tax rate in the Internal Revenue Code (the 鈥淐ode鈥�) will also require us to revalue our U.S. net deferred tax asset positions at a presumably lower rate, which will result in a charge taken to earnings in the period this remeasurement occurs. We continue to evaluate and quantify further what effects the new Code will have on our operations and liquidity, including the phasing out of the domestic production deduction (Section 199) and new rules and rates related to the repatriation of foreign cash.鈥�

Mr. Chase also commented, “We recently announced the acquisition of Zappa Stewart effective December 31, 2017. This transaction, which will be accretive in year one, demonstrates continued strategic momentum with our mergers, acquisitions and divestitures program as we build upon our core specialty chemicals expertise, focusing on protective materials for high-reliability applications.

鈥淥ur balance sheet remains strong. As of November 30, 2017, the Company鈥檚 cash on hand was $54.26 million and our $150 million revolving credit facility was fully available. In December, while a portion of our revolving credit facility was utilized to fund the Zappa Stewart acquisition, from a liquidity standpoint, we still have ample capacity to support both organic and inorganic growth programs to achieve our long-term strategy.鈥�

The following table summarizes the Company鈥檚 financial results for the three months ended November 30, 2017 and 2016.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

Use of Non-GAAP Financial Measures

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures. The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance. The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Cautionary Note Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential鈥�, among others. These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations. The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements. To comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products; the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes; and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥� January 4, 2018听鈥� 新澳彩开奖 (NYSE American: CCF) announced that it has acquired Stewart Superabsorbents (SSA), LLC, an advanced superabsorbent polymer (SAP) formulator and solutions provider, with operations located in Hickory and McLeansville, NC. In the most recently completed calendar year, SSA and its recently acquired Zappa-Tec business (collectively 鈥淶appa Stewart鈥�) had combined revenue in excess of $24,000,000. Chase expects this acquisition to be immediately accretive to its earnings. The business was acquired for a purchase price of $71,382,000, net of cash acquired, pending any working capital adjustments and excluding acquisition-related costs. As part of this transaction, Chase acquired all equity of the business and entered into multiyear leases at both locations. The purchase was funded from a combination of a $65,000,000 draw on Chase鈥檚 existing revolving credit facility and available cash on hand.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淭his is a highly complementary acquisition for 新澳彩开奖 which leverages our existing channels to industrial markets and allows us to deliver more value to our customers. Zappa Stewart鈥檚 proven protective materials technology is a great fit with our core strategy and extends our reach into growing medical and consumer applications. Their North Carolina operations will broaden our capabilities, and will add two facilities near the three we already have in the region. The new technologies and additional management talent will enhance our cross-functional operating model, creating logical synergies and value-creation opportunities.鈥�

Quint Barefoot, Managing Partner of Zappa Stewart, commented,

鈥淥ur organization is excited to become part of the dynamic Chase team. Becoming part of the Chase platform creates significant opportunities to deploy proprietary polymer solutions across diverse market segments. This increased scale and geographic reach for our specialty reagents will generate new opportunities for our personnel, new perspectives and sustainable growth. This could not happen at a more exciting time in our markets, as we see heightened demand for our differentiated products used in directional drilling, telecommunications, energy, infrastructure and remediation projects.鈥�

The transaction was effective December 31, 2017. 新澳彩开奖 will continue to manufacture and market under the Zappa Stewart brands and locations, with plans to integrate Zappa Stewart into its ERP platform in the coming months to further enhance existing operational, development and engineering expertise. Zappa Stewart is a solutions provider of specialty materials for water and liquid management, remediation and protection in diverse markets including wire and cable, medical, environmental, infrastructure, energy and consumer products.

新澳彩开奖 Announces Fiscal 2017 Results
Revenue of $252.6 Million
Earnings per Share of $4.44
Approves Dividend of $0.80 Per Share

Westwood, MA 鈥� October 30, 2017听鈥� 新澳彩开奖听(NYSE American: CCF)听today reported revenue of $252.56 million for the year ended August 31, 2017. This is an increase of $14.47 million, or 6%, compared to $238.09 million recognized in the prior fiscal year. Net income of $42.01 million for fiscal 2017 increased $9.21 million, or 28%, from $32.81 million in the prior year. Earnings per diluted share of $4.44 for fiscal 2017 represented an increase of $0.94, or 27%, compared to $3.50 per diluted share in the prior year. Adjusted EBITDA for fiscal 2017 increased $9.96 million, or 16%, to $73.97 million compared to $64.01 million in the prior year.

For the fourth fiscal quarter of 2017, revenue increased $7.54 million, or 12%, to $68.99 million, compared to $61.46 million in last year鈥檚 fourth quarter. Net income of $11.41 million in the current quarter increased $0.56 million, or 5%, from $10.86 million in last year鈥檚 fourth quarter. Earnings per diluted share of $1.21 in the quarter represented an increase of $0.05, or 4%, compared to $1.16 per diluted share in last year鈥檚 fourth quarter. Adjusted EBITDA in the current quarter increased $2.13 million, or 12%, to $20.23 million, compared to $18.10 million in last year鈥檚 fourth quarter.

The Company also announced a cash dividend of $0.80 per share to shareholders of record on November 9, 2017 and payable on December 6, 2017.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淚n fiscal 2017, we sought and obtained revenue and operating income growth through execution of our core strategic drivers: organic growth through strategic market and product development, mergers, acquisitions and divestitures, and operational consolidation.

鈥淗eadlining the year鈥檚 successes was our first-quarter acquisition of Resin Designs, keeping with our discipline and focus on building out our specialty chemicals portfolio with complementary products positioned for growth and sustainable returns. Following the acquisition of Resin Designs, we divested our noncore, low-growth-potential fiber optic cable components business.

鈥淧rogress was made during fiscal 2017 with the profitable sales of former manufacturing and office real estate no longer needed as a result of our consolidation and footprint optimization program.

鈥淪olid organic growth was achieved in our areas of focus. Royalty income was particularly strong during the year, as a robust Asian appliance market and the ever-increasing Internet of Things (IoT) expanded the demand for electronic and industrial coatings. Favorable trends in automotive (including electric vehicles), home appliances, communications and server cable manufacturing all led to our Industrial Materials segment鈥檚 positive results in the fourth quarter of fiscal 2017, and boosted results for our HumiSeal庐 conformal coatings, Dualite庐 microspheres and NEPTCO庐 communication cable tapes. These trends, especially electric vehicle adoption, will play an important role in our continued growth, including HumiSeal and the added adhesive and sealant offerings we now provide through our Resin Designs acquisition. Further, through our specialty materials product line, we leveraged our core competencies and production capabilities to utilize excess capacity for profitable growth.

鈥淚nfrastructure spending relating to domestic bridge and highway projects, most notably the paving of the new Mario Cuomo Bridge in New York using our Rosphalt50庐 product, represented a bright spot for our Construction Materials segment in the fourth quarter. Additionally, the quarter saw the continued growth of our 4EvaSeal庐 waterproofing repair tape product. However, results were muted in our consolidated reporting by continued delays and sluggishness in Middle East water infrastructure project work.

鈥淩aw materials streams showed upward price pressure during the year, especially during our fourth quarter, and this trend has continued into the new fiscal year. Nonetheless, maintaining and growing margins and quality of earnings remains our focus.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added,

鈥淔oreign currency exchange gains were down $1.3 million and $1.8 million for the current quarter and year-to-date periods, respectively, from the significant prior year gains noted in the fiscal 2016 fourth quarter earnings release. The prior year fourth quarter also received a $0.9 million benefit on the settlement of an annuity, a one-time gain noted in the prior year earnings release, which did not recur in fiscal 2017.

鈥淲e continued to experience volatility in our effective tax rate as was anticipated following our adoption of ASU 2016-09 in the current year. For the fourth quarter of fiscal 2017, we recognized an effective tax rate of 30.8%, lowering our annual effective tax rate to 31.0%.

鈥淯ltimately, our current year superior operating income and favorable tax rate allowed us to post a comparatively higher fourth-quarter net income, as well as Adjusted EBITDA, despite the effects of current year lower exchange gains and the prior year鈥檚 nonrecurring gain on the annuity settlement.鈥�

Mr. Chase also commented,

鈥淲e will continue to view mergers, acquisitions and divestitures as a pathway to sustainable growth. The acquired operations of Resin Designs are now fully integrated into our shared services platform and worldwide ERP system. In July, we paid off the outstanding balance on our revolving debt with cash generated through operating activities. Also during the fourth quarter, we were fortunate to have avoided any structural damage or prolonged disruption to our facility in Houston, TX, following Hurricane Harvey in late August.

鈥淥ur balance sheet remains strong, and could be further leveraged via our $150 million revolving credit facility. As we look toward fiscal 2018, we are equipped to both meet our operational cash needs and pursue targets within our active M&A program.鈥�

As of August 31, 2017, the Company鈥檚 cash on hand was $47.35 million. There was no outstanding balance on the Company鈥檚 $150 million revolving debt facility.

The following table summarizes the Company鈥檚 financial results for the three months and years ended August 31, 2017 and 2016.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures. The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance. The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential鈥�, among others. These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations. The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements. To comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products; the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes; and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥� October 30, 2017听鈥� 新澳彩开奖听(NYSE American: CCF)听today reported revenue of $252.56 million for the year ended August 31, 2017. This is an increase of $14.47 million, or 6%, compared to $238.09 million recognized in the prior fiscal year. Net income of $42.01 million for fiscal 2017 increased $9.21 million, or 28%, from $32.81 million in the prior year. Earnings per diluted share of $4.44 for fiscal 2017 represented an increase of $0.94, or 27%, compared to $3.50 per diluted share in the prior year. Adjusted EBITDA for fiscal 2017 increased $9.96 million, or 16%, to $73.97 million compared to $64.01 million in the prior year.

For the fourth fiscal quarter of 2017, revenue increased $7.54 million, or 12%, to $68.99 million, compared to $61.46 million in last year鈥檚 fourth quarter. Net income of $11.41 million in the current quarter increased $0.56 million, or 5%, from $10.86 million in last year鈥檚 fourth quarter. Earnings per diluted share of $1.21 in the quarter represented an increase of $0.05, or 4%, compared to $1.16 per diluted share in last year鈥檚 fourth quarter. Adjusted EBITDA in the current quarter increased $2.13 million, or 12%, to $20.23 million, compared to $18.10 million in last year鈥檚 fourth quarter.

The Company also announced a cash dividend of $0.80 per share to shareholders of record on November 9, 2017 and payable on December 6, 2017.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淚n fiscal 2017, we sought and obtained revenue and operating income growth through execution of our core strategic drivers: organic growth through strategic market and product development, mergers, acquisitions and divestitures, and operational consolidation.

鈥淗eadlining the year鈥檚 successes was our first-quarter acquisition of Resin Designs, keeping with our discipline and focus on building out our specialty chemicals portfolio with complementary products positioned for growth and sustainable returns. Following the acquisition of Resin Designs, we divested our noncore, low-growth-potential fiber optic cable components business.

鈥淧rogress was made during fiscal 2017 with the profitable sales of former manufacturing and office real estate no longer needed as a result of our consolidation and footprint optimization program.

鈥淪olid organic growth was achieved in our areas of focus. Royalty income was particularly strong during the year, as a robust Asian appliance market and the ever-increasing Internet of Things (IoT) expanded the demand for electronic and industrial coatings. Favorable trends in automotive (including electric vehicles), home appliances, communications and server cable manufacturing all led to our Industrial Materials segment鈥檚 positive results in the fourth quarter of fiscal 2017, and boosted results for our HumiSeal庐 conformal coatings, Dualite庐 microspheres and NEPTCO庐 communication cable tapes. These trends, especially electric vehicle adoption, will play an important role in our continued growth, including HumiSeal and the added adhesive and sealant offerings we now provide through our Resin Designs acquisition. Further, through our specialty materials product line, we leveraged our core competencies and production capabilities to utilize excess capacity for profitable growth.

鈥淚nfrastructure spending relating to domestic bridge and highway projects, most notably the paving of the new Mario Cuomo Bridge in New York using our Rosphalt50庐 product, represented a bright spot for our Construction Materials segment in the fourth quarter. Additionally, the quarter saw the continued growth of our 4EvaSeal庐 waterproofing repair tape product. However, results were muted in our consolidated reporting by continued delays and sluggishness in Middle East water infrastructure project work.

鈥淩aw materials streams showed upward price pressure during the year, especially during our fourth quarter, and this trend has continued into the new fiscal year. Nonetheless, maintaining and growing margins and quality of earnings remains our focus.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added,

鈥淔oreign currency exchange gains were down $1.3 million and $1.8 million for the current quarter and year-to-date periods, respectively, from the significant prior year gains noted in the fiscal 2016 fourth quarter earnings release. The prior year fourth quarter also received a $0.9 million benefit on the settlement of an annuity, a one-time gain noted in the prior year earnings release, which did not recur in fiscal 2017.

鈥淲e continued to experience volatility in our effective tax rate as was anticipated following our adoption of ASU 2016-09 in the current year. For the fourth quarter of fiscal 2017, we recognized an effective tax rate of 30.8%, lowering our annual effective tax rate to 31.0%.

鈥淯ltimately, our current year superior operating income and favorable tax rate allowed us to post a comparatively higher fourth-quarter net income, as well as Adjusted EBITDA, despite the effects of current year lower exchange gains and the prior year鈥檚 nonrecurring gain on the annuity settlement.鈥�

Mr. Chase also commented,

鈥淲e will continue to view mergers, acquisitions and divestitures as a pathway to sustainable growth. The acquired operations of Resin Designs are now fully integrated into our shared services platform and worldwide ERP system. In July, we paid off the outstanding balance on our revolving debt with cash generated through operating activities. Also during the fourth quarter, we were fortunate to have avoided any structural damage or prolonged disruption to our facility in Houston, TX, following Hurricane Harvey in late August.

鈥淥ur balance sheet remains strong, and could be further leveraged via our $150 million revolving credit facility. As we look toward fiscal 2018, we are equipped to both meet our operational cash needs and pursue targets within our active M&A program.鈥�

As of August 31, 2017, the Company鈥檚 cash on hand was $47.35 million. There was no outstanding balance on the Company鈥檚 $150 million revolving debt facility.

The following table summarizes the Company鈥檚 financial results for the three months and years ended August 31, 2017 and 2016.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures. The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance. The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential鈥�, among others. These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations. The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements. To comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products; the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes; and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥撎�July 5,听2017听鈥撎�(NYSE MKT: CCF) today reported revenue of $64.90 million for the quarter ended May 31, 2017. This is an increase of $0.67 million, or 1%, compared to $64.24 million recognized in the same quarter of the prior fiscal year. Net income of $11.86 million for the current quarter increased $4.32 million, or 57%, from $7.53 million in the prior year third quarter. Earnings per diluted share of $1.26 for the third quarter of fiscal 2017 represented an increase of $0.46, or 58%, compared to $0.80 per diluted share in fiscal 2016. Adjusted EBITDA for the current quarter increased $2.02 million, or 12%, to $18.79 million compared to $16.77 million in the third quarter of last year.

For the nine months ended May 31, 2017, revenue increased $6.93 million or 4% to $183.57 million, compared to $176.64 million recognized in the first nine months of the prior year.听 Net income of $30.60 million for the first nine months of fiscal 2017 increased $8.65 million or 39% from $21.95 million in the prior year period.听 Earnings per diluted share of $3.24 for the first three quarters of fiscal 2017 represented an increase of $0.90, or 38%, compared to $2.34 per diluted share in fiscal 2016. Adjusted EBITDA in the current year-to-date period increased $7.83 million, or 17%, to $53.74 million compared to $45.91 million in the first nine months of fiscal 2016.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淥ur Industrial Materials segment produced sound results led by a favorable product mix in the quarter with revenue growing over the prior year third quarter. Our electronic and industrial coatings and pulling and detection products continued their strong organic growth in the quarter, and were further bolstered by sales from Resin Designs, acquired in the first quarter. Cable materials quarterly gains, especially sales into the communication cable markets, have the product line鈥檚 year-to-date sales favorable to the prior year. These results more than offset the low-margin revenue lost following the divestiture of our fiber optic cable component business in April.

鈥淒elays and non-repeating project work culminated in choppy third quarter results for our Construction Materials segment, especially as compared to the same period in the prior year. Middle East pipeline project work continued, but not at the levels seen in the recent past. Sustained energy price weakness negatively impacted demand and was exacerbated by political instability in the region. Domestic commercial roofing, bridge work and waterproofing projects also did not recur at prior period levels, with certain projects delayed into our fourth quarter.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added,

鈥淔ollowing our adoption of ASU 2016-09 in the current year, and as anticipated, the Company continues to experience volatility in its effective tax rate. For the third quarter of fiscal 2017, the Company recognized an effective tax rate of 30.7%, with the rate affected by a discrete tax benefit related to stock-based compensation.听 Our effective tax rate for the year-to-date period was 31.1%. Further tax uncertainty exists concerning any potential future changes in the tax code regarding the repatriation of funds. As of May 31, 2017, over half of the Company鈥檚 cash balance was held outside the United States, and changes in the code could influence the Company鈥檚 decision-making around repatriating and utilizing for domestic expansion or other uses.鈥�

Mr. Chase also commented,

鈥淢ergers, divestitures and acquisitions continue to be one of our stated strategies for sustainable growth. And with the sale of our fiber optic cable components business during the quarter, and the purchase of Resin Designs in September, we have effectively replaced some low-margin business with higher-margin business, adhering to our strategy and sustaining value creation for our shareholders.

鈥淥ur balance sheet remains strong, further strengthened by our $150 million revolving credit facility. We are aligned to continue pursuing our mergers and acquisitions program, while satisfying our operational cash needs.鈥�

As of May 31, 2017, the Company鈥檚 cash on hand was $54.13 million. The outstanding balance of the Company鈥檚 $150 million revolving debt facility was $20.00 million.

The following table summarizes the Company鈥檚 financial results for the three and nine months ended May 31, 2017 and 2016.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures.听 The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance.听 The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking.听 These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential鈥�, among others.听 These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations.听 The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements.听 To comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products;听 the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes; and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥� April 5, 2017听鈥撎�(NYSE MKT: CCF) today reported revenue of $57.31 million for the quarter ended February 28, 2017. This is an increase of $2.38 million, or 4%, compared to $54.92 million recognized in the same quarter of the prior fiscal year. Net income of $8.38 million for the current quarter increased $1.41 million, or 20%, from $6.97 million in the prior year second quarter. Earnings per diluted share of $0.89 for the second quarter of fiscal 2017 represented an increase of $0.15, or 20%, compared to $0.74 per diluted share in fiscal 2016. Adjusted EBITDA for the current quarter increased $2.01 million, or 14%, to $16.54 million compared to $14.53 million in the second quarter of last year.

For the six months ended February 28, 2017, revenue increased $6.26 million or 6% to $118.67 million, compared to $112.40 million recognized in the first six months of the prior year. Net income of $18.75 million for the first six months of fiscal 2017 increased $4.33 million or 30% from $14.42 million in the prior year period. Earnings per diluted share of $1.99 for the first half of fiscal 2017 represented an increase of $0.45, or 29%, compared to $1.54 per diluted share in fiscal 2016. Adjusted EBITDA in the current year-to-date period increased $5.81 million, or 20%, to $34.96 million compared to $29.14 million in the first six months of fiscal 2016.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淥ur Industrial Materials segment performed well in the quarter, with sales increasing over the prior year second quarter. Last quarter鈥檚 Resin Designs acquisition delivered solid results, which added to organic growth contributions from our electronic and industrial coatings and pulling and detection products.

鈥淲ith Middle East pipeline project delays and general weakness in that region continuing, our Construction Materials segment completed its normally seasonally slower second quarter behind the prior year. However, our coating and lining systems sales were a bright spot for the segment during the quarter.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added,

鈥淎fter adopting ASU No. 2016-09 at the start of the fiscal year, the Company has continued to experience the anticipated volatility in its effective tax rate. For the second quarter of fiscal 2017, the Company recognized an effective tax rate of 33.7%, with the rate affected by a discrete tax benefit related to stock-based compensation. Our effective tax rate for the year-to-date period was 31.3%.

鈥淲ith less volatility in foreign currency exchange rates in the period, our recognized net transactional gains and losses were not significant for the current quarter, especially as compared to net gains recognized in the quarterly and year-to-date periods in the prior year.鈥�

Mr. Chase also commented,

鈥淲e continue to make progress on our mergers, acquisitions and divestitures program. The integration of Resin Designs鈥� operations onto Chase鈥檚 ERP system continued during the quarter, and the post-acquisition financial results provided us a comparative benefit over the prior year. As previously announced, we sold our former Corporate headquarters in Bridgewater, MA in December, recognizing a gain on the sale. In April, following the second quarter, we completed the sale of our fiber optic cable components business, for which a gain will be recognized in the third quarter.

鈥淒uring the current quarter, Chase began utilizing its new $150 million credit facility. The size and flexibility of the new credit facility provides us ample capital to pursue our mergers and acquisitions program. Given the all-revolver nature of the new credit facility, we have begun utilizing excess cash to pay down the principal balance of our debt, and may draw on the facility in the future to finance M&A activity as well as other operational needs.鈥�

As of February 28, 2017, the Company鈥檚 cash on hand was $40.81 million. The outstanding balance of the Company鈥檚 new $150 million revolving debt facility was $25.00 million.

The following table summarizes the Company鈥檚 financial results for the three and six months ended February 28, 2017 and February 29, 2016.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures.听 The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance.听 The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking.听 These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential,鈥� among others.听 These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations.听 The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements.听 In order to comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products;听 the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Westwood, MA 鈥� January 4, 2017听鈥撎�(NYSE MKT: CCF)听today reported revenue of $61.36 million for the quarter ended November 30, 2016.听 This is an increase of $3.88 million, or 7%, compared to $57.48 million recognized in the same quarter of the prior fiscal year.听 Net income of $10.36 million for the current quarter increased $2.91 million, or 39%, from $7.45 million in the prior year first quarter.听 Earnings per diluted share of $1.10 for the first quarter of fiscal 2017 represented an increase of $0.30, or 38%, compared to $0.80 per diluted share in fiscal 2016. Adjusted EBITDA for the current quarter increased $3.81 million, or 26%, to $18.42 million compared to $14.61 million in the first quarter of last year.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淩esin Designs, acquired in the current quarter, delivered immediate and meaningful top-line growth, and was accretive to earnings after excluding one-time acquisition-related deal costs and inventory step-up charges incurred in the quarter. While still early, we remain optimistic of the opportunities and growth potential afforded us through this acquisition.

鈥淲e were pleased to see organic growth from our Industrial Materials segment, nicely complementing the Resin Designs contribution.听 Electronic and industrial coatings sales remained buoyant in Mexico as well as Asia, which experienced favorable demand in multiple sectors. This helped to offset a slowdown in certain broadband products that were consistently strong last fiscal year.

鈥淐onstruction Materials fell short of last year with continued weakness in pipeline coatings used primarily in the gas distribution market.听 We had some significant bridge and highway projects in last year鈥檚 first quarter that did not repeat this year.鈥�

Kenneth J. Feroldi, Treasurer and Chief Financial Officer, added,

鈥淭he Company early adopted a new accounting standard during the current quarter, ASU No. 2016-09, resulting in a lower effective tax rate given the inclusion of an additional discrete tax benefit for stock-based compensation expense. For this reporting period, this adoption generated $0.79 million of additional net income from the resulting reduction of income tax expense. Chase notes the size and occurrence of future similar discrete items may not match that observed in the first quarter, and anticipates the potential for increased volatility in future effective tax rates based on the continued application of this new guidance.

鈥淲e continued the prior fiscal year trend of realizing net transactional gains on sales from our UK operations denominated in currencies other than the British pound. Continued volatility of the British pound, as compared to both the USD and euro, will continue to affect our earnings through the remainder of fiscal 2017.鈥�

Mr. Chase also commented,

鈥淔urthering our ongoing facilities rationalization and consolidation initiative, we are pleased to announce the Company closed on the sale of its Paterson, NJ location during the quarter. In December, subsequent to the first quarter, we closed on the sale of our former Corporate headquarters in Bridgewater, MA.

鈥淎lso subsequent to the quarter, we refinanced the Company鈥檚 outstanding term debt, with a more flexible all revolving debt facility. This facility gives the Company a $150 million borrowing capacity, with further ability to increase that amount by an additional $50 million upon lender approval. As previously announced, we had been looking to refinance our existing term debt, and believe the new facility offers Chase exactly the kind of flexibility and borrowing capacity needed to pursue accretive strategic acquisitions.鈥�

As of November 30, 2016, the Company鈥檚 cash on hand was $49.32 million. The outstanding balance of the Company鈥檚 term debt was $41.30 million and the Company鈥檚 $15 million line of credit was fully available; both were refinanced into the new revolving debt facility in December 2016.

The following table summarizes the Company鈥檚 financial results for the three months ended November 30, 2016 and 2015.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures.听 The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance.听 The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking.听 These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential,鈥� among others.听 These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations.听 The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements.听 In order to comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products;听 the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Bridgewater, MA 鈥� November 1, 2016听鈥撎�(NYSE MKT: CCF)today reported revenue of $238.09 million for the year ended August 31, 2016.听 This is an increase of $0.05 million, or less than one percent, compared to $238.05 million recognized in the prior fiscal year.听 Net income attributable to 新澳彩开奖 of $32.81 million for fiscal 2016 increased $6.49 million, or 25%, from $26.32 million in the prior year.听 Earnings per diluted share of $3.50 for fiscal 2016 represented an increase of $0.68, or 24%, compared to $2.82 per diluted share in the prior year. Adjusted EBITDA for fiscal 2016 increased $8.41 million, or 15%, to $64.01 million compared to $55.60 million in the prior year.

For the fourth fiscal quarter of 2016, revenue decreased $3.46 million, or 5%, to $61.46 million, compared to $64.91 million in last year鈥檚 fourth quarter.听 Net income attributable to 新澳彩开奖 of $10.86 million in the current quarter increased $2.67 million, or 33%, from $8.18 million in last year鈥檚 fourth quarter.听 Earnings per diluted share of $1.16 in the quarter represented an increase of $0.29, or 33%, compared to $0.87 per diluted share in last year鈥檚 fourth quarter. Adjusted EBITDA in the current quarter increased $2.11 million, or 13%, to $18.10 million, compared to $16.00 million in last year鈥檚 fourth quarter.

The Company also announced a cash dividend of $0.70 per share to shareholders of record on November 11, 2016 and payable on December 7, 2016.

Adam P. Chase, President and Chief Executive Officer, commented,

鈥淔iscal 2016 product mix trends continued into the fourth quarter with automotive and broadband-related products remaining solid contributors for our Industrial Materials segment. Construction Materials was challenged by the continued slowness in Middle East project work when compared to the prior year and by sustained lower petroleum prices.听 Overall, we had a successful fiscal year with our focus on maintaining solid margins despite top-line pressure.听 We are particularly proud of our team鈥檚 cost and working capital management, which is indicative of our improved information systems.鈥�

Mr. Chase further commented,

鈥淒uring the fourth quarter, our financial results included the effects of Brexit-related foreign exchange gains and a cash flow benefit from a legacy life insurance policy. We also had a one-time gain on the settlement of an annuity, as noted in our adjusted EBITDA calculation. We finished the year with a strong cash position, and are pleased to announce an increase in our annual dividend. 听Our acquisition of Resin Designs, LLC closed early in the first quarter of fiscal 2017. This further exhibits the vitality of our M&A program, fresh off our acquisition in India during the fourth quarter.鈥�

As of August 31, 2016, the Company鈥檚 cash on hand was $73.41 million. The outstanding balance of the Company鈥檚 term debt was $43.40 million, the entire balance of which became current during the fourth quarter, and the Company鈥檚 $15 million line of credit was fully available. Chase expects to refinance its debt within the coming year to ensure adequate capital for its acquisition program.

The June 23, 2016 referendum by British voters to exit the European Union (鈥淏rexit鈥�) adversely impacted global markets and currencies. It resulted in a decline in the value of the British pound as compared to the US dollar and other currencies during our fourth fiscal quarter of 2016. A weaker British pound compared to the US dollar has caused local currency operational results of our United Kingdom locations to be translated into fewer US dollars for the affected period. Offsetting the decline in the value of the British pound, sales from our United Kingdom locations denominated in currencies other than the British pound have resulted in significant transactional gains, recorded to other income (expense) in our financial results for the period.

Chase acquired Spray Products (India) Private Limited in June. In September, subsequent to our fiscal year end, Chase acquired Resin Designs, LLC, an advanced adhesives and sealants manufacturer, with locations in Woburn, MA and Newark, CA.

Also in September, as part of our continued focus on real estate consolidation, Chase designated its Global Operations Center in Westwood, MA as its corporate executive offices. Demolition work on the Company鈥檚 idle Randolph, MA facility, which commenced in the second fiscal quarter, achieved substantial completion in the fourth fiscal quarter, with the sale of the property anticipated to follow.

Included in the Company鈥檚 fiscal 2016 fourth quarter and year-to-date results were a gain on the settlement of an annuity and exit costs related to idle facility, which netted to a gain of $0.81 million and an expense of $0.06 million, respectively (post-tax gain of $0.58 million and a post-tax expense of $0.04 million or $0.06 per diluted share and less than $0.01 per diluted share, respectively). The current fiscal year results also included both a gain on the sale of the RodPack庐 wind energy business and the write-down of certain assets under construction, which resulted in a net post-tax increase in net income attributable to 新澳彩开奖 of $0.44 million, or $0.05 per diluted share. Included in the Company鈥檚 prior fiscal year results were charges, net of tax, totaling $0.42 million or $0.04 per share, relating to acquisition and inventory step-up costs associated with its purchase of the specialty chemical intermediates product line.

The following table summarizes the Company鈥檚 financial results for the three months and the years ended August 31, 2016 and 2015.

Contact:
Paula Myers
Shareholder & Investor Relations Department
Phone: 听听 508.819.4219
贰-尘补颈濒:听听听听investorrelations@chasecorp.com
奥别产蝉颈迟别:听听

新澳彩开奖, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.

The Company has used non-GAAP financial measures in this press release. EBITDA and Adjusted EBITDA are non-GAAP financial measures.听 The Company believes that EBITDA and Adjusted EBITDA are useful performance measures as they are used by its executive management team to measure operating performance, to allocate resources to enhance the financial performance of its business, to evaluate the effectiveness of its business strategies and to communicate with its board of directors and investors concerning its financial performance.听 The Company believes EBITDA and Adjusted EBITDA are commonly used by financial analysts and others in the industries in which the Company operates, and thus provide useful information to investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative to, the Company鈥檚 reported results prepared in accordance with GAAP.

Certain statements in this press release are forward-looking.听 These may be identified by the use of forward-looking words or phrases such as 鈥渂elieve鈥�; 鈥渆xpect鈥�; 鈥渁nticipate鈥�; 鈥渟hould鈥�; 鈥減lanned鈥�; 鈥渆stimated鈥� and 鈥減otential,鈥� among others.听 These forward-looking statements are based on 新澳彩开奖鈥檚 current expectations.听 The Private Securities Litigation Reform Act of 1995 provides a 鈥渟afe harbor鈥� for such forward-looking statements.听 In order to comply with the terms of the safe harbor, the Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company’s business include, but are not limited to, the following: uncertainties relating to economic conditions; uncertainties relating to customer plans and commitments; the pricing and availability of equipment, materials and inventories; technological developments; performance issues with suppliers and subcontractors; economic growth; delays in testing of new products;听 the Company鈥檚 ability to successfully integrate acquired operations; the effectiveness of cost-reduction plans; rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.