Automotive solutions segment drives Exco Technologies' Q4 2016 sales up 17% YoY

<p>Ontario, Canada based Exco Technologies has reported a quarterly Earnings Per Share of $0.27 in its recently held 2016 annual meeting of shareholders. A total of 24,407,453 common shares or 57.33 per cent of the issued and outstanding common shares were voted in connection with the meeting, Exco stated in an official media release. <br /><br />The global supplier of innovative technologies servicing the aluminium die-cast, extrusion and automotive industries reported total sales of $153.1 million versus $130.9 million in the last quarter ended 31 December, 2016, registering a rise of 17 per cent year-on-year. EBITDA was up 11 per cent from the corresponding period previous year. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Exco.png" alt="News" width="517" height="226" /><br />Exco raised its fourth quarterly dividend by 14 per cent to US$0.08 per common share. Free cash flow of US$18 million was reported in the period under review. The balance sheet of the company reflects a strong liquidity position, enough to sustain production and capital investment in the short to medium term. <br /><br />Consolidated sales were $153.1 million compared to $130.9 million in the same quarter last year &ndash; an increase of $22.2 million or 17%. The Automotive Solutions segment reported higher sales of $108.1 million in the first quarter &ndash; an increase of $30.4 million or 39% from the same quarter last year. The Casting and Extrusion segment reported sales of $45.0 million&ndash; a decrease of $8.2 million or 15% from the same quarter last year. <br /><br />{googleAdsense}<br /><br />Exco's foundry in Ontario includes a 4,000 ton High Pressure Die Cast machine cell with spray and extraction robots and dedicated furnaces for each of A380 aluminium, A365 aluminium and magnesium. Its casting business under Castool Tooling Solutions has been accredited now as the first tooling supplier to the aluminium extrusion and die casting industries in North America to be certified by the most demanding of quality management protocols, QS9000.</p>