Jason Industries, Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net sales were $167,254,000 as compared to $175,193,000 for the same period last year. Operating income was $7,312,000 as compared to $7,602,000 for the same period last year. Loss before income taxes was $544,000 as compared to $508,000 for the same period last year. Net loss was $819,000 as compared to $493,000 for the same period last year. Net loss attributable to Jason Industries was $819,000 as compared to $498,000 for the same period last year. Basic and diluted net loss per share was $0.09 as compared to $0.05 for the same period last year. Net cash provided by operating activities was $3,817,000 as compared to $2,901,000 for the same period last year. Payments for property, plant and equipment was $3,622,000 as compared to $3,396,000 for the same period last year. Acquisitions of patents was $9,000 as compared to $33,000 for the same period last year. Adjusted EBITDA was $19,713,000 as compared to $18,561,000 for the same period last year. EBITDA was $18,290,000 as compared to $17,861,000 for the same period last year. Adjusted net income was $700,000 as compared to $152,000 for the same period last year. Adjusted earnings per share was $0.02 as compared to $0.01 for the same period last year.

For the full year 2018, Jason reaffirms guidance of net sales in the range of $600 to $615 million, Adjusted EBITDA of $66 to $70 million, and free cash flow of $13 to $17 million, resulting in an implied net debt to Adjusted EBITDA range of 5.3 to 4.9 times.