Versum Materials Updates FY17 Guidance - Quick Facts

(RTTNews) - Versum Materials, Inc. (VSM) announced, for fiscal 2017, the company revised outlook to estimated sales of $1.02 to $1.065 billion and adjusted EBITDA of $340 to $355 million from prior guidance of $990 to $1.05 billion and $330 to $350 million, respectively.

The company reported second-quarter net income of $44.9 million, or $0.41 per share, down 16.5% from second quarter 2016. Adjusted net Income was $47.9 million, $0.44 per share, compared to $52.2 million, $0.48 per share, for the second quarter 2016, with interest expense and tax rate driving the majority of the impact.

Second-quarter sales were $270.8 million, up 16.0% from the same quarter a year ago, driven by strong volume in both the Materials and Delivery Systems & Services segments.