Clearwater Seafoods Incorporated reported earnings results for the thirteen weeks and twenty six weeks ended July 1, 2017. For the thirteen weeks, the company reported sales of CAD 154,302,000 against CAD 140,180,000 a year ago. Adjusted EBITDA was CAD 27,542,000 against CAD 27,454,000 a year ago. Adjusted EBITDA attributable to shareholders was CAD 23,551,000 against CAD 21,811,000 a year ago. Earnings attributable to shareholders was CAD 9,489,000 or CAD 0.15 per diluted share against CAD 9,962,000 or CAD 0.16 per diluted share a year ago. Adjusted earnings attributable to shareholders was CAD 72,000 or CAD 0.00 per diluted share against CAD 1,378,000 or CAD 0.02 per diluted share a year ago. Cash used in operations was CAD 16,432,000 against CAD 25,729,000 a year ago. Free cash outflow was CAD 31,599,000 against CAD 34,111,000 a year ago.

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.