NuCO2 Inc, the largest supplier in the US of bulk CO2 systems and services for carbonating fountain beverages, has reported positive operating results for the fiscal first quarter ended 30th September 2007, in line with the Company’s fiscal 2008 strategic growth plan.
Total revenues for the quarter amounted to $34.9m, compared with $32.4m in the corresponding year-ago period and an increase of 8%, while gross profit increased to $18.3m from $17.6m in the prior year’s first quarter.
Operating cash flow for the quarter amounted to $13.0m, up from $8.8m in the corresponding year-ago period, an increase of 47%, reflecting gains in income and working capital, particularly reductions in accounts receivable. Free cash flow, defined as cash flow from operations less capital expenditures, amounted to $8.1m for the quarter, compared to $0.5m in the year ago period.
Michael E. DeDomenico, chairman and CEO, commented, “The quarter’s results were solidly on track with our plan and reflect gains in operational productivity, asset management and providing the highest quality customer service, while strengthening operating and free cash flow.”
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