Advanced Drainage posts 2Q profit

HILLIARD, Ohio (AP) _ Advanced Drainage Systems Inc. (WMS) on Thursday reported fiscal second-quarter net income of $23.7 million.

On a per-share basis, the Hilliard, Ohio-based company said it had net income of 38 cents. Earnings, adjusted for non-recurring gains, were 35 cents per share.

The maker of water drainage systems and pipes posted revenue of $360.8 million in the period.

Advanced Drainage expects full-year revenue in the range of $1.23 billion to $1.25 billion.

Advanced Drainage shares have risen 10 percent since the beginning of the year. The stock has increased nearly 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMS at https://www.zacks.com/ap/WMS

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