Tower International, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $497,590,000 against $489,194,000 a year ago. Operating income was $23,540,000 against $23,375,000 a year ago. Income from continuing operations was $16,063,000 against $8,729,000 a year ago. Net income was $17,413,000 against $8,384,000 a year ago. Net income attributable to the company was $17,345,000 against $8,378,000 a year ago. Diluted income per share from continuing operations was $0.77 against $0.41 a year ago. Diluted income per share was $0.83 against $0.39 a year ago. Net cash flow used in continuing operating activities was $48,424,000 against cash flow from continuing operating activities of $10,262,000 a year ago. Cash disbursed for purchases of property, plant, and equipment, net was $23,909,000 against $25,696,000 a year ago. Adjusted EBITDA was $46,204,000 against $45,095,000 a year ago. Negative free cash flow was $72,333,000 against $15,432,000 a year ago. Net debt was $402,119,000 as on March 31, 2017. Diluted adjusted earnings per share (non-GAAP) were $0.76 against $0.65 a year ago.

For full year 2017, the company expects revenue of $1.925 billion; adjusted EBITDA up 4%, to $210 million; adjusted EBITDA margin increasing by 40 basis points, to 10.9%; diluted adjusted earnings per share of $3.60, an increase of 7% from 2016; and free cash flow of $55 million, driven by strong cash flow in the second half of the year.

The company's outlook for second quarter 2017 includes revenue of $495 million, adjusted EBITDA of $53 million, and diluted adjusted earnings per share of $0.95.