Wesco Aircraft Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company reported net sales of $363,091,000 against $339,371,000 a year ago, primarily due to an increase in long-term contracts and growth in ad-hoc sales. Income from operations was $24,572,000 against $26,256,000 a year ago. Income before income taxes was $12,994,000 against $15,471,000 a year ago. Net loss was $374,000 or $0.00 per basic and diluted share against income of $13.107or $0.13 per basic and diluted share a year ago. Net cash used in operating activities was $29,880,000 against $28,086,000 a year ago. Purchase of property and equipment was $1,335,000 against $1,316,000 a year ago. EBITDA was $32,088,000 against $33,273,000 a year ago. Adjusted EBITDA was $35,002,000 against $34,288,000 a year ago. Adjusted net income was $14,458,000 or $0.15 per basic and diluted share against $18,498,000 or $0.19 per basic and diluted share a year ago.

The company continues to target a low single-digit percentage increase in net sales year-over-year in fiscal 2018, as well as a low double-digit percentage increase in adjusted EBITDA year-over-year in fiscal 2018. The company also continues to expect that it will end the fiscal year at an adjusted EBITDA margin run-rate of more than 10%. Effective tax rate in fiscal 2018 is expected to be approximately 28%-29%.