Boulder-based DMC Global posts record sales in second quarter

BOULDER — DMC Global Inc. (Nasdaq: BOOM) on Thursday reported a record for quarterly sales, posting revenue of $80.9 million for its second quarter that ended June 30, up 71 percent compared with the same period a year ago.

The Boulder-based firm manufactures explosion-welded clad metal plates, which are used to make equipment used in a variety of industries, including oil and gas.

The improvement was due to better-than-expected results at DynaEnergetics, DMC’s oilfield products business, which continues to benefit from increased well completion activity in North America’s oil and gas sector, and strong demand for its initiating and perforating systems.  

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Sales at NobelClad, DMC’s explosion welding business, also exceeded prior forecasts.

Net income was $6.4 million, or 43 cents per diluted share, versus net income of $189,000, or one cent per diluted share, in the year-ago second quarter.

“DynaEnergetics experienced strong demand during the second quarter from a growing number of North American operators and service companies,” said Kevin Longe, president and CEO. … Our NobelClad business also outperformed its sales expectations, reflecting a moderate improvement in project volume. … I am very encouraged by the performance of both DynaEnergetics and NobelClad through the first half of the year,” Longe added.  “Our global workforce is working hard to achieve our growth objectives, and I am confident these efforts will further enhance value for DMC stakeholders.”

Michael Kuta, CFO, said third-quarter sales are expected in a range of $82 million to $85 million, compared with the $52.2 million reported in the 2017 third quarter.