January 22, 2018 / 11:13 AM / 4 months ago

BRIEF-Atkore International Group ‍Expects Q1 2018 Net Income Of About $27.2 Million​

Jan 22 (Reuters) - Atkore International Group Inc:

* . ANNOUNCES SHARE REPURCHASE TRANSACTION AND PRELIMINARY FIRST QUARTER 2018 RESULTS

* ATKORE INTERNATIONAL GROUP - ‍STOCK REPURCHASE TRANSACTION IS EXPECTED TO BENEFIT BOTH FY EPS AND FY ADJUSTED EPS BY APPROXIMATELY $0.24 PER SHARE​

* ‍REAFFIRMS ITS EXPECTATION THAT FISCAL YEAR 2018 ADJUSTED EBITDA WILL BE IN RANGE OF $245 MILLION TO $260 MILLION​

* ATKORE INTERNATIONAL - ‍AGREED TO REPURCHASE FROM CD&R ALLIED HOLDINGS, L.P. ABOUT 17 MILLION SHARES , PAR VALUE $0.01 PER SHARE, AT $21.77​ PER SHARE

* ‍EXPECTS Q1 2018 NET INCOME OF APPROXIMATELY $27.2 MILLION​

* ATKORE INTERNATIONAL - STOCK REPURCHASE EXPECTED TO BE FUNDED USING PROCEEDS OF BORROWING UNDER EXISTING LOAN CREDIT FACILITY OF CERTAIN UNITS OF CO

* ‍TOTAL PURCHASE PRICE FOR SHARE REPURCHASE OF APPROXIMATELY $375 MILLION​

* ‍EXPECTS Q1 2018 NET INCOME PER DILUTED SHARE OF $0.41​

* ‍EXPECTS Q1 2018 ADJUSTED NET INCOME PER DILUTED SHARE OF $0.46​

* ATKORE INTERNATIONAL - STOCK REPURCHASE TRANSACTION EXPECTED TO BENEFIT BOTH FY EPS AND FY ADJUSTED EPS BY APPROXIMATELY $0.24 PER SHARE

* ‍EXPECTS Q1 2018 CASH FLOW FROM OPERATING ACTIVITIES OF $49 MILLION​

* ‍UPDATING 2018 ADJUSTED EPS GUIDANCE TO BE IN RANGE OF $1.95 TO $2.15 ​

* ATKORE INTERNATIONAL - ‍FOLLOWING COMPLETION OF STOCK REPURCHASE DEAL, CD&R INVESTOR WILL OWN ABOUT 29% OF CO’S OUTSTANDING COMMON STOCK​

* ATKORE INTERNATIONAL - FOR Q1 OF FY 2018, CO EXPECTS FEDERAL TAX REFORM TO RESULT IN ONE-TIME REDUCTION TO TAX EXPENSE IN RANGE OF $4 MILLION TO $5 MILLION

* FY2018 EARNINGS PER SHARE VIEW $1.65 — THOMSON REUTERS I/B/E/S

* Q1 EARNINGS PER SHARE VIEW $0.33 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below