Ridley reports 33 increase in second quarter earnings

• 

  freeimages.com

  Ridley Inc. reported a 33 percent increase in earnings for the fiscal 2015 second quarter.

  From WATTAgNet:
  Animal nutrition company Ridley Inc. reported a 33 percent increase in earnings for the fiscal 2015 second quarter.
  The company’s adjusted earnings before interest and taxes for the quarter were $15.3 million, compared with $11.5 million for the same period last year. Adjusted EBITDA was $17.2 million, compared with $13.4 million last year, a 28.5 percent increase. Consolidated net income for the quarter was $10.5 million, compared with $7.3 million, an increase of 43.6 percent.
  Ridley’s U.S. Feed Operations reported 35.5 percent increase in operating income for the period on sales growth in most species segments. Ridley Block Operations reported a 4.6 percent increase in operating income, mostly due to strong sales in the beef cattle sector. Ridley Feed Ingredients saw an 80 percent increase in operating income, due to sales volume growth and improved product mix.
  Ridley's share of net income from its interest in the Canadian operations of Masterfeeds L.P. in the second quarter improved by $1.2 million, or 350 percent, over last year on strong sales growth and $700,000 in proceeds from insurance claims.