Orchids Paper Products Company reported unaudited consolidated earnings results for the third quarter and nine months ended of September 30, 2017. For the quarter, the company reported total net sales of $45,172,000 compared to $39,628,000 a year ago. Operating loss was $519,000 compared to operating income of $3,425,000 a year ago. Loss before income taxes were $1,304,000 compared to income before income taxes of $2,948,000 a year ago. Net income was $705,000 compared to $2,213,000 a year ago. Basic and diluted net income per share was $0.07 against of $0.21 a year ago. Earnings before interest, income tax and depreciation and amortization were $2,873,000 compared to $6,729,000 a year ago. Adjusted EBITDA was $3,898,000 compared to $7,094,000 a year ago. Net cash provided by operating activities was $3,233,000 compared to $3,850,000 a year ago.

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.