DMC Global Raises First Quarter Sales Forecast
03 Aprile 2019 - 11:00AM
DMC Global Inc. (Nasdaq: BOOM) today announced that consolidated
first quarter sales are expected to be approximately $100 million,
up from a previously forecasted range of $82 million to $85
million. Gross margin is expected to be consistent with the
company’s prior forecast of 34%.
Management said the better-than-expected results
were principally due to strong sequential growth at DynaEnergetics,
DMC’s oilfield products business, which now is expected to report
sales of approximately $80 million, up from a forecasted range of
$64 million to $67 million. Sales at NobelClad, DMC’s
composite metals business, are expected to be approximately $20
million, above forecasted sales of $18 million.
“As the first quarter progressed,
DynaEnergetics’ experienced a sharp increase in demand for its
advanced well perforating systems,” said Kevin Longe, DMC’s
president and CEO. “This growth coincided with improved
industry conditions, including a 32% first quarter increase in U.S.
crude prices, and an upturn in domestic well completion
activity. We are encouraged by the strong start to 2019 at
both of our business segments.”
Management did not provide updates on other
prior financial forecasts, and will address revisions to its 2019
guidance when the Company reports full first-quarter results after
the market closes on April 25, 2019.
About DMCBased in Boulder,
Colorado, DMC operates in two sectors: oilfield products and
services, and industrial infrastructure. The oilfield products and
services sector is served by DynaEnergetics, an international
developer, manufacturer and marketer of advanced explosive
components and systems used to perforate oil and gas wells.
The industrial infrastructure sector is served by DMC’s
NobelClad business, the world’s largest manufacturer of
explosion-welded clad metal plates, which are used to fabricate
capital equipment utilized within various process industries and
other industrial sectors. For more information, visit the
Company’s website at: http://www.dmcglobal.com.
Safe Harbor LanguageExcept for
the historical information contained herein, 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, including first
quarter 2019 guidance on consolidated sales and gross margin and
first quarter sales guidance for each of DynaEnergetics and
NobelClad. Such statements and information are based on numerous
assumptions regarding present and future business strategies, the
markets in which we operate, anticipated costs and ability to
achieve goals. Forward-looking information and statements are
subject to known and unknown risks, uncertainties and other
important factors that may cause actual results and performance to
be materially different from those expressed or implied by such
forward-looking information and statements, including but not
limited to: our ability to realize sales from our backlog; our
ability to obtain new contracts at attractive prices; the execution
of purchase commitments by our customers, and our ability to
successfully deliver on those purchase commitments; the size and
timing of customer orders and shipments; changes to customer
orders; product pricing and margins, fluctuations in customer
demand; our ability to successfully execute and capitalize upon
growth opportunities; fluctuations in foreign currencies;
fluctuations in tariffs and quotas; the cyclicality of our
business; competitive factors; the timely completion of contracts;
the timing and size of expenditures; the timing and price of metal
and other raw material; the adequacy of local labor supplies at our
facilities; current or future limits on manufacturing capacity at
our various operations; the availability and cost of funds; and
general economic conditions, both domestic and foreign, impacting
our business and the business of the end-market users we serve; as
well as the other risks detailed from time to time in our SEC
reports, including the annual report on Form 10-K for the year
ended December 31, 2018. We do not undertake any obligation to
release publicly revisions to any forward-looking statement,
including, without limitation, to reflect events or circumstances
after the date of this news release, or to reflect the occurrence
of unanticipated events, except as may be required under applicable
securities laws.
CONTACT:Geoff HighVice President
of Investor Relations303-604-3924
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