CSS Industries, Inc. announced unaudited consolidated financial results for the quarter and six months ended September 30, 2018. For the quarter, the company reported net sales of $112,901,000 against $101,397,000 for the same period a year ago. Operating loss was $5,794,000 against income of $3,393,000 for the same period a year ago. Loss before income taxes was $6,062,000 against income of $3,515,000 for the same period a year ago. Net loss was $4,910,000 against income of $3,013,000 for the same period a year ago. Basic and diluted net loss per share was $0.54 per share against income of $0.33 per share for the same period a year ago. Adjusted diluted income per share were $0.32 per share against $0.65 per share for the same period a year ago. Adjusted EBITDA was $7,896,000 against $10,101,000 for the same period a year ago. Adjusted operating income was $4,472,000 against $7,981,000 for the same period a year ago. Adjusted net income was $2,893,000 against $5,949,000 for the same period a year ago. Net cash used for operating activities was $30,417,000 against $18,838,000 for the same period a year ago. Purchase of property, plant and equipment was $2,732,000 against $1,120,000 for the same period a year ago.

For the six months, the company reported net sales of $177,028,000 against $149,721,000 for the same period a year ago. Operating loss was $24,466,000 against $5,491,000 for the same period a year ago. Loss before income taxes was $24,879,000 against $5,156,000 for the same period a year ago. Net loss was $23,386,000 against $4,051,000 for the same period a year ago. Basic and diluted net loss per share was $2.57 per share against $0.45 per share for the same period a year ago. Adjusted diluted loss per share was $0.99 per share against income of $0.12 per share for the same period a year ago. Adjusted EBITDA was $1,166,000 against $6,847,000 for the same period a year ago. Adjusted operating loss was $5,555,000 against income of $2,601,000 for the same period a year ago. Adjusted net loss was $9,014,000 against income of $1,128,000 for the same period a year ago. Net cash used for operating activities was $45,821,000 against $34,162,000 for the same period a year ago. Purchase of property, plant and equipment was $5,891,000 against $2,021,000 for the same period a year ago.

For the fiscal year ending March 31, 2019, the company expects to generate net sales of $398 million to $412 million. The driver of the growth will be the full year impact of the Simplicity acquisition, partially offset by a decline in the company's base business. Net loss outlook is revised and expected to be in the range of $10.2 million to $12.5 million. The increase from previously provided guidance of a net loss of $5.0 million to $7.5 million is driven primarily by costs associated with U.K. restructure, including a non-cash fixed asset write-down, higher costs associated with poly ribbon antidumping case, and higher integration costs. The company reaffirms its adjusted EBITDA guidance for fiscal 2019 to be in the range of $26 million to $29 million. The expected growth in adjusted EBITDA primarily reflects the full year contribution of Simplicity and integration savings related to Simplicity, partially offset by a decline in the company's base business.