KLX Inc. Reports Strong Second Quarter 2017 Financial Results

KLX Inc. (the “Company”), a leading distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products to the oil and gas exploration and production industry, today reported its second fiscal quarter ended July 31, 2017 financial results.

On a GAAP basis, for the three-month period ended July 31, 2017, operating earnings of $52.3 million increased approximately 61.4 percent and net earnings of $20.7 million and net earnings per diluted share of $0.40 more than doubled, as compared to the three-month period ended July 31, 2016.

SECOND QUARTER HIGHLIGHTS
•Consolidated revenues increased 13.6 percent to $430.6 million, driven by 3.1 percent organic revenue growth in the Aerospace Solutions Group segment (“ASG”) and 126.9 percent revenue growth in the Energy Services Group segment (“ESG”)
•Consolidated operating earnings of $52.3 million increased 61.4 percent
•Adjusted Net Earnings and Adjusted Net Earnings per diluted share (as defined below) were $37.8 million and $0.73 per diluted share, representing increases of 60.9 percent and 62.2 percent, respectively
•Repurchased approximately $15 million KLXI common stock during the second quarter
•Reaffirmed 2017 guidance