Balchem Corporation reported unaudited earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales of $138,509,000 against $140,128,000 a year ago. Earnings from operations were $22,946,000 against $22,922,000 a year ago. Earnings before income tax expense were $20,771,000 against $21,189,000 a year ago. Net earnings were $14,012,000 against $13,976,000 a year ago. Diluted net earnings per common share were $0.44 against $0.44 a year ago. Adjusted EBITDA was $36,604,000 against $35,669,000 a year ago. Adjusted net earnings were $19,464,000 against $19,406,000 a year ago. Adjusted net earnings per common share were $0.61 against $0.61 a year ago. Adjusted earnings from operations were $30,855,000 against $30,999,000 a year ago. Adjusted net earnings were $19,464,000 against $19,406,000 a year ago. Adjusted net earnings per diluted share were $0.61 against $0.61 a year ago. EBITDA was $34,529,000 against $32,699,000 a year ago. Net cash provided by operating activities was $23,859,000 against $28,984,000 a year ago. Capital expenditures were $4,065,000 against $12,818,000 a year ago. Free cash flow was $19,794,000 against $16,166,000 a year ago.

For the nine months, the company reported net sales of $412,444,000 against $419,763,000 a year ago. Earnings from operations were $66,247,000 against $71,734,000 a year ago. Earnings before income tax expense were $60,135,000 against $66,440,000 a year ago. Net earnings were $40,048,000 against $44,063,000 a year ago. Diluted net earnings per common share were $1.26 against $1.40 a year ago. Adjusted EBITDA was $111,579,000 against $106,748,000 a year ago. Adjusted net earnings were $58,981,000 against $58,500,000 a year ago. Adjusted net earnings per common share were $1.85 against $1.85 a year ago. Net cash provided by operating activities was $79,817,000 against $78,850,000 a year ago. Capital expenditures and intangible assets acquired was $19,566,000 against $28,810,000 a year ago. Adjusted earnings from operations were $94,629,000 against $93,044,000 a year ago. Adjusted net earnings were $58,981,000 against $58,500,000 a year ago. Adjusted net earnings per diluted share were $1.85 against $1.85 a year ago. EBITDA was $100,232,000 against $101,092,000 a year ago. Free cash flow was $61,016,000 against $50,733,000 a year ago. Net debt at September 30, 2016, was $267 million.

For 2016, the company expects annualized tax rate to be approximately 32% compared to 31.4% in the prior year.