Intertape Polymer Group Reports 2018 First Quarter Results
First Quarter 2018 Highlights (as compared to first quarter 2017): • Revenue increased 14.5% to $237.2 million primarily due to additional revenue from the Cantech Acquisition(1) and an increase in average selling price, including the impact of product mix. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $2.1 million to $11.4 million, primarily due to the increase in SG&A and other finance costs, partially offset by a decrease in income tax expense and an increase in gross profit. • Adjusted EBITDA(3) decreased 0.6% to $30.2 million primarily due to an increase in SG&A and the non-recurrence of Insurance Proceeds of $2.1 million realized in the first quarter of 2017, partially offset by adjusted EBITDA contributed by Cantech and an increase in gross profit. Excluding the Insurance Proceeds, adjusted EBITDA for the first quarter of 2018 increased by almost 7% compared to the first quarter of 2017. Click Read More below for additional information.