Significant Profit Growth
Despite a 30% decrease in tonnage compared to 2006, Oil-Dri achieved $75 million in gross profit this quarter, a 7.5 times increase over the $9.8 million in gross profit from 2006.
Double-Digit Sales Growth
Oil-Dri experienced double-digit sales growth in its Fluids Purification and Animal Health product groups, contributing to an 11% increase in gross margin year-over-year.
Successful Debt Reduction
The company paid off the remaining $5 million of short-term debt on its revolving credit facility, leaving it undrawn and available for growth opportunities.
Recognition for Leadership
Susan Kreh, CFO, was named CFO of the Year for mid-sized public companies in Chicago, highlighting the effective financial management of the company.