MSA Safety Incorporated announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company's net sales were $296,129,000 against $278,233,000 a year ago. Operating income was $40,617,000 against $40,022,000 a year ago. Income from continuing operations before income taxes was $37,637,000 against $37,651,000 a year ago. Income from continuing operations was $32,226,000 against $26,322,000 a year ago. Net income attributable to company was $32,066,000 or $0.83 per diluted share against $24,186,000 or $0.63 per diluted share a year ago. Cash flow from operating activities was $42,964,000 against $18,915,000 a year ago. Capital expenditures were $5,603,000 against $5,551,000 a year ago. Adjusted operating income was $47,739,000 against $42,701,000 a year ago. Adjusted earnings were $35,434,000 or $0.92 per diluted share against $27,410,000 or $0.72 per diluted share a year ago. Adjusted EBITDA increased 13% to $58 million in the quarter. Income from continuing operations attributable to company common shareholders was $32,066,000 against $25,486,000 a year ago. Diluted income from continuing operations attributable to company common shareholders was $0.83 against $0.67 a year ago.

For the nine months, the company's net sales were $850,669,000 against $853,499,000 a year ago. Operating income was $74,341,000 against $116,648,000 a year ago. Income from continuing operations before income taxes was $65,836,000 against $107,837,000 a year ago. Income from continuing operations was $59,530,000 against $68,971,000 a year ago. Net income attributable to company was $59,011,000 or $1.52 per diluted share against $67,020,000 or $1.76 per diluted share a year ago. Cash flow from operating activities was $189,246,000 against $31,437,000 a year ago. Capital expenditures were $11,730,000 against $16,146,000 a year ago. Adjusted operating income was $128,211,000 against $122,843,000 a year ago. Adjusted earnings were $90,769,000 or $2.35 per diluted share against $75,468,000 or $1.99 per diluted share a year ago. Adjusted EBITDA increased 6% to $159 million. Income from continuing operations attributable to company common shareholders was $59,011,000 against $67,475,000 a year ago. Diluted income from continuing operations attributable to company common shareholders was $1.52 against $1.77 a year ago.

The company is planning a full year effective tax rate of 28%, excluding the windfall tax benefit related to stock compensation and any exit tax charges related to the implementation of principal operating company, representing an improvement of about 600 basis points from 2016.