More on Kewaunee Scientific Q2 results

|About: Kewaunee Scientific Co... (KEQU)|By:, SA News Editor

Kewaunee Scientific (KEQU -5.3%) reported Q2 sales of $37.28M an decrease of 10.1% Y/Y, with Domestic sales of $30.6M (+7.3% Y/Y) and International sales of $6.7M (-48.5% Y/Y).

Q2 Overall gross margin improved 187 bps to 20.9% and operating margin declined 168 bps to 4.8%.

Inventories were at $17.1M (-3.4% Y/Y).

Backlog was $101M (-14.4% Y/Y), the Company has a strong volume of outstanding quotations globally and expects to be awarded significant projects over the balance of the fiscal year.

Company has cash and equivalents of $9.5M (-19.5% Y/Y) & Working capital was $36.4M (+6.4% Y/Y).

Company's debt-to-equity ratio at Oct 31, 2018 was .14-to-1, as compared to .24-to-1 a year ago.

Previously: Kewaunee Scientific misses on revenue (Dec. 04 2018)

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