Jason Industries, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year of 2018
For the full year, the company reported net sales of $648,616,000 against $705,519,000 a year ago. Operating income was $23,490,000 against loss of $54,087,000 a year ago. Loss before income taxes was $14,857,000 against $84,349,000 a year ago. Net loss attributable to the company was $4,478,000 against $67,235,000 a year ago. Net income per basic and diluted share available to common shareholders of the company was $0.05 against loss of $2.70 a year ago. Net cash provided by operating activities was $30,091,000 against $35,117,000 a year ago. Payments for property, plant and equipment was $15,873,000 against $19,780,000 a year ago. Adjusted net income was $1,353,000 against loss of $7,492,000 a year ago. Adjusted earnings per share were $0.05 against loss of $0.25 a year ago. EBITDA was $57,166,000 against LBITDA of $8,465,000 a year ago. Adjusted EBITDA was $67,752,000 against $64,160,000 a year ago.
The company provided earnings guidance for the full year of 2018. For the period, the company expects net sales in the range of $600 million to $615 million, Adjusted EBITDA of $66 million to $70 million and free cash flow of $13 million to $17 million, which includes approximately $4 million of cash restructuring, and capital expenditures of approximately 2.8% of sales.