Intertape Polymer Group Reports 2017 Third Quarter Results
Third Quarter 2017 Highlights (as compared to third quarter 2016): • Revenue increased 17.9% to $243.4 million primarily due to additional revenue from the Cantech and Powerband Acquisitions(1), an increase in average selling price, including the impact of product mix, and an increase in sales volume from certain tape products. • Gross margin decreased to 20.9% from 21.7% primarily due to the dilutive impact of the Cantech Acquisition resulting mainly from non-cash purchase price accounting adjustments and certain manufacturing production inefficiencies occurring mainly in older facilities. • Selling, general and administrative expenses ("SG&A") decreased 31.3% to $18.8 million primarily due to a decrease in share-based compensation driven primarily by the decrease in fair value of cash-settled awards. Click Read More below for additional information.