Clearwater Seafoods Incorporated Reports Earnings Results for the Thirteen Weeks and Twenty Six Weeks Ended July 1, 2017; Provides Capex Guidance for Fiscal 2018
For the twenty six weeks, the company reported sales of CAD 282,669,000 against CAD 256,405,000 a year ago. Adjusted EBITDA was CAD 47,310,000 against CAD 46,319,000 a year ago. Adjusted EBITDA attributable to shareholders was CAD 39,349,000 against CAD 36,573,000 a year ago. Earnings attributable to shareholders were CAD 11,661,000 or CAD 0.18 per diluted share against CAD 24,470,000 or CAD 0.41 per diluted share a year ago. Adjusted earnings attributable to shareholders were CAD 2,065,000 or CAD 0.03 per diluted share against CAD 5,159,000 or CAD 0.09 per diluted share a year ago. Cash used in operations was CAD 34,388,000 against CAD 33,910,000 a year ago. Free cash outflow was CAD 65,486,000 against CAD 61,464,000 a year ago.
Year-over-year, 2018 CapEx will decrease by several tens of millions of dollars compared to 2017.