Orchids Paper Products Company announced unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total net sales of $38,443,000 against $39,414,000 a year ago. Operating loss was $2,008,000 against income of $3,993,000 a year ago. Loss before income taxes was $2,453,000 against income of $3,872,000 a year ago. Net loss was $2,047,000 or $0.20 per basic and diluted share against income of $2,568,000,000 or $0.25 per basic and diluted share a year ago. EBITDA was $1,557,000 against $7,628,000 a year ago. Adjusted EBITDA was $2,451,000 against $8,233,000 a year ago. Net cash provided by operating activities was $1,450,000 against $7,546,000 a year ago.

For six months, the company reported total net sales of $73,797,000 against $87,157,000 a year ago. Operating loss was $2,891,000 against income of $12,275,000 a year ago. Loss before income taxes was $3,686,000 against income of $12,092,000 a year ago. Net loss was $2,907,000 or $0.28 per basic and diluted share against income of $7,977,000 or $0.77 per diluted share a year ago. EBITDA was $4,298,000 against $19,125,000 a year ago. Adjusted EBITDA was $5,574,000 against $19,939,000 a year ago. Net cash provided by operating activities was $5,063,000 against $16,409,000 a year ago.

The company expects minimal capital spending in 2018, averaging in the range of $4 million to $5 million on an annual basis. The company expects that tax rate to increase to between 24% and 27% for the balance of 2017, and to move to within a 30% to 34% range for 2018.