Oil-Dri Reports Q4 Earnings Results
Shares of Oil-Dri (NYSE: ODC) are currently halted in the after-hours following the release of the company's Q4 earnings results. Shares ended the regular session higher by 2.33%, at $20.20.
Oil-Dri reported Q4 EPS of $0.40 on revenues of $57.731 million. Revenues increased 6% year over year, while net income increased 21% YoY.
Chief Executive Officer Daniel S. Jaffee said, "This year we were able to achieve moderate sales growth and maintain a strong balance sheet while investing heavily in a new product launch and continuing to invest in several key initiatives.” "In the fourth quarter, we introduced Cat's Pride Fresh & Light, a new concept in cat litter. The product capitalizes on our lighter density mineral reserves, and uses a blend of sodium and calcium bentonite covered by both an existing patent and a pending patent application.”
Oil-Dri Corporation of America is engaged in developing, manufacturing and marketing sorbent products. The company's sorbent products are produced from clay minerals and other sorbent materials. Its sorbent technologies include absorbent and adsorbent products.
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