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Acme United Reports Fourth Quarter 2017 Results
02/27/2018
Acme United Reports 14% Sales Increase for Fourth Quarter of 2017 February 27, 2018 at 9:00 AM EST
FAIRFIELD, Conn., Feb. 27, 2018 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American:ACU) today announced that net sales for the fourth quarter ended December 31, 2017 were $30.2 million, compared to $26.4 million in the comparable period of 2016, an increase of 14%. Net sales for the year ended December 31, 2017 were $130.5 million, compared to $124.6 million in 2016, an increase of 5%.
Adjusted net income (non-GAAP), excluding tax charges related to the recently enacted U.S. Tax Cuts and Jobs Act, for the quarter ended December 31, 2017 was $590,000, or $0.16 per diluted share. This compares to $546,000, or $0.15 per diluted share, for the comparable period in 2016, an 8% increase in net income and 7% increase in earnings per share. Adjusted net income (non-GAAP) for the year ended December 31, 2017 was $5.3 million, or $1.42 per diluted share, compared to $5.8 million, or $1.64 per diluted share, for the year ended December 31, 2016, a 9% decrease in net income and 13% decrease in earnings per share.
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