Lydall, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net sales of $191,660,000 against $165,487,000 a year ago. Operating income was $14,036,000 against $15,148,000 a year ago. Income before income taxes was $13,181,000 against $14,209,000 a year ago. Net income was $11,054,000 or $0.64 per basic and diluted share against $11,669,000 or $0.68 per diluted share a year ago. Net cash used for operating activities was $3,962,000 against net cash provided by operating activities of $12,358,000 a year ago. Capital expenditures was $7,676,000 against $9,560,000 a year ago. Operating income, adjusted was $14,692,000 against $16,777 a year ago. Diluted earnings per share, adjusted was $0.67 against $0.74 a year ago. EBITDA was $20,937,000 against $21,286,000 a year ago. EBITDA, adjusted was $21,593,000 against $22,915,000 a year ago.

For the second quarter of 2018, the company expects robust backlog and order activity to continue across all segments and overall organic growth to be in a range consistent with the first quarter of 2018. The company expects quarterly sequential improvement in consolidated gross margin in the second quarter, but the company do expect consolidated gross margin to be lower than the same period last year.

For the full year 2018, the company now expect the consolidated ordinary tax rate to be in the range of 18% to 20%.