Press release
DMC Global Reports Fourth Quarter and Full-Year Financial Results
Unit Sales of DynaEnergetics’ Flagship DS Perforating System up 40% Year-Over-Year;Arcadia & NobelClad See Strong Demand Across Primary End Markets Fourth
About this update from Dmc Global Inc.
[{"type":"text","content":"Unit Sales of DynaEnergetics’ Flagship DS Perforating System up 40% Year-Over-Year;Arcadia & NobelClad See Strong Demand Across Primary End Markets Fourth quarter sales were $175.1 million, flat sequentially and up 144% versus Q4 2021Fourth quarter sales were up 36% versus pro forma fourth quarter 2021 sales, inclusive of ArcadiaFourth quarter consolidated gross margin was 26% versus 29% in Q3 2022 and 18% in Q4 2021Fourth quarter net income attributable to DMC was $3.3 millionFourth quarter adjusted net income attributable to DMC*, inclusive of $2.2 million in non-cash amortization expense for Arcadia purchased intangible assets, was $4.3 million, or $0.22 per diluted shareFourth quarter adjusted EBITDA attributable to DMC* was $19.6 millionFull-year sales were $654.1 million, up 151% versus 2021Full-year net income attributable to DMC was $12.2 millionFull-year adjusted net income attributable to DMC*, inclusive of $21.8 million in non-cash amortization expense for Arcadia purchased intangible assets, was $13.5 million, or $0.70 per diluted shareFull-year adjusted EBITDA attributable to DMC* was $74.2 million, up 268% versus 2021 BROOMFIELD, Colo., Feb. 23, 2023 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its fourth quarter ended December 31, 2022. Fourth quarter sales were $175.1 million, flat sequentially and up 144% versus sales in last year's fourth quarter. The 2022 fourth quarter results include $74.4 million in sales from Arcadia, a leading supplier of architectural building products. DMC acquired a 60% controlling interest in Arcadia on December 23, 2021. Excluding Arcadia, fourth quarter sales were $100.7 million, up 7% sequentially and up 40% versus the fourth quarter of 2021. The increase principally reflects stronger demand for well perforating products from DynaEnergetics, DMC's energy products business. Fourth quarter gross margin was 26% versus 29% in the third quarter and 18% in the fourth quarter a year ago. The sequential decline principally reflects an expected dip in gross margin at Arcadia resulting from volatility in aluminum prices earlier in 2022, as well as inventory write offs and reserves within DynaEnergetics’ North American business. Selling, general and administrative expense (SG&A) was $30.6 million, flat sequentially and up from $16.3 million in the fo...