Multi Packaging Solutions Announces Second Quarter Results

Multi Packaging Solutions International announced results for its second quarter ended Dec. 31, 2016. It completed its initial public offering in October 2015, and the comparability of certain amounts, such as operating income, interest expense and earnings per share, are significantly impacted on a year over year basis due to the offering.
 
The company has announced a GAAP net sales of $386.1 million vs. $429.4 million last year during the same time period. In addition, the GAAP operating income is $24.9 million compared to $7.1 million, and the Non GAAP net income attributable to MPS is $11.6 million vs. $18.9 million. Multi Packaging Solutions has also claimed an adjusted EBITDA of $57.5 million vs. $69.4 million and a negative foreign exchange impact of $2.3 million. The adjusted EBITDA margin is 14.9% vs. 16.2% in the second quarter of the previous year.