Primo Water Corporation announced unaudited consolidated financial results for the quarter ended March 31, 2018. For the quarter, the company reported net sales of $73,659,000 against $60,737,000 for the same period a year ago. Income from operations was $4,771,000 against loss of $3,454,000 for the same period a year ago. Loss before income taxes was $515,000 against $11,676,000 for the same period a year ago. Net income was $1,210,000 against loss of $11,862,000 for the same period a year ago. Basic and diluted earnings per share were $0.04 per share against loss of $0.37 per share for the same period a year ago. Net cash provided by operating activities was $4,466,000 against $47,000 for the same period a year ago. Purchases of property and equipment was $3,490,000 against $4,466,000 for the same period a year ago. Additions to intangible assets was $8,000 against $76,000 for the same period a year ago. Adjusted net income was $987,000 against loss of $1,679,000 for the same period a year ago. Adjusted basic and diluted earnings per share were $0.03 per share against loss of $0.05 per share for the same period a year ago. EBITDA was $10,828,000 against LBITDA of $283,000 for the same period a year ago. Adjusted EBITDA was of $12,381,000 against $9,779,000 for the same period a year ago.

For the second quarter of 2018, the company expects net sales of $70.5 million to $73.5 million and adjusted EBITDA of $14.7 million to $15.2 million.

For the year of 2018, the company raised net sales guidance to a range of $303.0 million to $307.0 million, compared to previous range of $298.0 million to $302.0 million. The company reiterating guidance for adjusted EBITDA of $61.0 million to $63.0 million, as it expects to invest the contribution from the incremental sales growth into existing and new marketing initiatives.