Orchids Paper Products Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2017; Provides Earnings Guidance for the Fourth Quarter of 2017
For the nine months, the company reported total net sales of $118,969,000 compared to $126,785,000 a year ago. Operating loss was $3,410,000 compared to operating income of $15,700,000 a year ago. Loss before income taxes were $4,990,000 compared to income before income taxes of $15,040,000 a year ago. Net loss was $2,202,000 compared to net income of $10,190,000 a year ago. Basic and diluted net loss per share was $0.21 against diluted earnings per share of $0.98 a year ago. Earnings before interest, income tax and depreciation and amortization were $7,171,000 compared to $25,854,000 a year ago. Adjusted EBITDA was $9,472,000 compared to $27,093,000 a year ago. Net cash provided by operating activities was $8,296,000 compared to $20,259,000 a year ago.
Company expects fourth quarter revenue to be in the range of $43 million to $46 million and adjusted EBITDA to be between $4 million and $5 million.