Lydall, Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2017; Provides Earnings Guidance for the Full Year of 2017
For the nine months, the company reported net sales of $520,407,000 compared to $422,660,000 a year ago. Operating income was $49,960,000 compared to $47,498,000 a year ago. Income before income taxes was $46,707,000 compared to $47,739,000 a year ago. Net income was $35,469,000 compared to $32,767,000 a year ago. Diluted earnings per share were $2.05 compared to $1.92 a year ago. Net cash provided by operating activities was $46,192,000 compared to $47,422,000 a year ago. Capital expenditures were $19,918,000 compared to $19,032,000 a year ago. Adjusted operating income was $54,170,000 compared to $51,750,000 a year ago. Adjusted Diluted earnings per share were $2.14 compared to $2.11 a year ago. EBITDA was $68,162,000 compared to $62,497,000 a year ago. Adjusted EBITDA was $72,372,000 compared to $66,749,000 a year ago.
For the full year of 2017, the company expects gross margin to be in a range consistent with the third quarter of 2017 and the final quarter of 2016.