PITTSBURGH--(BUSINESS WIRE)--Black Box Corporation (NASDAQ:BBOX), a leading technology solutions provider dedicated to helping customers design, build, manage and secure their IT infrastructure, today reported results for the first quarter of Fiscal 2017.

1Q17 Results

• Revenues were $218.5 million, down 5% from $229.2 million for the same period last year and down 3% from $224.1 million in the sequential period.
• Provision for income taxes was $2.3 million, compared to $2.1 million for the same period last year and compared to a benefit for income taxes of $2.6 million in the sequential period.
• Net loss was $0.5 million, compared to net income of $0.8 million for the same period last year and compared to a net loss of $47.7 million in the sequential period.
• Diluted loss per share was $0.03, compared to diluted earnings per share of $0.05 for the same period last year and compared to a diluted loss per share of $3.13 in the sequential period.
• Operating net income* was $2.0 million, down 43% from $3.5 million for the same period last year and down 4% from $2.1 million in the sequential period.
• Operating EPS* was $0.13, down 42% from $0.22 for the same period last year and down 3% from $0.14 in the sequential period.
• Cash flow provided by operations was $10.9 million, compared to cash flow used for operations of $7.4 million for the same period last year and cash flow provided by operations of $22.3 million in the sequential period.
• We provided $1.7 million to our shareholders in the form of dividends.

* See the information under the caption "Non-GAAP Financial Measures" below for a discussion regarding the usefulness of the non-GAAP financial measures contained in this release, definitions of those non-GAAP financial measures and reconciliations to their most directly comparable GAAP financial measures.

Dividend

The Company also announced that it has declared a quarterly cash dividend of $0.12 per share of its Common Stock. The $0.12 per share dividend was declared on all outstanding shares of Black Box’s Common Stock and will be payable on October 14, 2016 to stockholders of record at the close of business on September 30, 2016. Black Box will pay the dividend through its transfer agent, American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, NY 11219.

“Since we delivered to our internal expectations, I am generally pleased with our results for the first quarter of Fiscal 2017,” stated E.C. Sykes, President and CEO. “We broke the recent cycle of under-performing in our first quarter and that is a success. We are laying the foundation for long-term growth and expect the comparisons to improve as the impacts from these actions flow through. Based on backlog and other factors at this point, we are focused on the work we have to do to deliver on our expectations for the second quarter.”

About Black Box

Black Box is a leading technology solutions provider dedicated to helping customers design, build, manage and secure their IT infrastructure. Black Box delivers high-value products and services through its global presence and 3,552 team members. To learn more, visit the Black Box Web site at http://www.blackbox.com.