Tile Shop Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net sales of $91,134,000 as compared to $92,135,000 for the same period last year. Income from operations was $6,111,000 as compared to $13,533,000 for the same period last year. Income before income taxes was $5,592,000 as compared to $13,084,000 for the same period last year. Net income was $4,011,000 as compared to $8,009,000 for the same period last year. Diluted earnings per share was $0.08 as compared to $0.15 for the same period last year. Net cash provided by operating activities was $9,858,000 as compared to $20,054,000 for the same period last year. Purchases of property, plant and equipment was $4,846,000 as compared to $9,963,000 for the same period last year.

For the year 2018, The company expects annual effective tax rate of approximately 26% to 28% in 2018.