Veritiv Reports Profit In Q4 - Quick Facts

(RTTNews) - Veritiv Corp. (VRTV), a North American leader in business-to-business distribution solutions, reported fourth-quarter net income of $10.1 million, or $0.63 per share, compared to a loss of $14.0 million or $0.88 per share, last year. The company said its net income for the period included $9.0 million of integration expenses and restructuring charges. Adjusted EBITDA was $52.3 million, an increase of 29.8% from the prior year.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.2 billion, a decrease of 7.5% from the prior year. Excluding the effect of foreign currency, net sales declined 6.2% from the prior year. Analysts expected revenue of $2.32 billion for the quarter.

The company plans for 2016 Adjusted EBITDA to be in the range of $185 to $195 million, which reflects the pacing of the next phase of synergy capture and the economic softness expected to continue throughout the year.