KLX Inc. Announces Expectations for Strong First Quarter 2017 Results - - Raises 2017 Full Year Financial Guidance
April 17 2017 - 6:30AM
KLX Inc. (the “Company”) (NASDAQ:KLXI), a leading distributor and
value added service provider of aerospace fasteners and
consumables, and a provider of services and products to the oil and
gas exploration and production industry, announced today that it
plans to report strong first quarter financial results for the
quarter ending April 30, 2017 when the Company reports its
financial results in May 2017. The Company also announced it
is raising its financial guidance for the year ending January 31,
2018 (Fiscal 2017).
The new Fiscal 2017 financial guidance assumes the recognition
in Fiscal 2017 of previously deferred revenues and earnings from
2016, and in addition, an approximate 2 percent increase in
consolidated revenues and a 3.5 percent increase in adjusted net
earnings and adjusted net earnings per diluted share, in each case
from previously announced fiscal 2017 financial guidance.
The Company’s new Fiscal 2017 financial guidance with respect to
the following financial metrics is as follows:
- Consolidated revenues of approximately $1.75 billion
- Consolidated operating earnings of approximately $222
million
- Adjusted net earnings of approximately $157 million
- Adjusted net earnings per diluted share of approximately
$3.00
Adjusted net earnings and adjusted net earnings per diluted
share are non-GAAP financial measures that reflect net earnings
before amortization and non-cash compensation expense, and includes
the tax benefit from the amortization of tax deductible
goodwill.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements involve risks and uncertainties.
The Company’s actual experience and results may differ materially
from the experience and results anticipated in such statements.
Factors that might cause such a difference include those discussed
in the Company’s filings with the Securities and Exchange
Commission (“SEC”), which include its Annual Report on Form 10-K
and Current Reports on Form 8-K. For more information, see
the section entitled “Forward -Looking Statements” contained in the
Company’s Annual Report on Form 10-K and in other filings. The
forward-looking statements included in this news release are made
only as of the date of this news release and, except as required by
federal securities laws and rules and regulations of the SEC, the
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
About KLX Inc. KLX Inc., through its two
operating segments, provides mission critical products and complex
logistical solutions to support its customers’ high value assets.
KLX serves its customers in demanding environments that face high
cost of downtime and require dependable, high quality just-in-time
customer support. The Aerospace Solutions Group is a leading
distributor and value added service provider of aerospace fasteners
and consumables offering the broadest range of aerospace hardware
and consumables and inventory management services worldwide. The
Energy Services Group provides vital services and products to the
oil and gas industry on an episodic, 24/7 basis. For more
information, visit the KLX website at www.klx.com.
CONTACT:
Michael Perlman
Assistant Treasurer
KLX Inc.
(561) 383-5100
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