BROOMFIELD, Colo. (AP) — BROOMFIELD, Colo. (AP) — DMC Global Inc. (BOOM) on Wednesday reported second-quarter net income of $507,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Broomfield, Colorado-based company said it had net income of 10 cents. Earnings, adjusted for one-time items, were 4 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The diversified holding company posted revenue of $157 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $149 million.
For the current quarter ending in September, DMC Global said it expects revenue in the range of $158 million to $168 million.
DMC Global shares have fallen 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.42, a decline of 36% in the last 12 months.
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