Advanced Drainage Systems, Inc. (NYSE:WMS) reported net loss for the fourth quarter of $ 6.15 million or $ 0.11 per share, compared to loss of $ 19.2 million or $ 0.34 per share for the year-ago quarter.
The topline results for the fourth quarter rose 2% to $ 250.11 million from $ 244.18 million in the same quarter last year.
Analysts polled by Thomson Reuters expected Advanced Drainage Systems to report loss of $ 0.06 per share on revenue of $ 249.44 million for the fourth quarter.
Scott Barbour, President and CEO of ADS commented: We had a strong finish to fiscal 2018, achieving our financial goals for the year through disciplined execution of our fundamentals, successfully converting traditional materials to our plastic pipe products and driving our water management solutions with allied products.
The Board of Directors has approved a quarterly cash dividend to its shareholders in the amount of $0.08 per share, paid on June 15, 2018 to shareholders of record at the close of business on June 5, 2018.