Tile Shop Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Tax Rate Guidance for the Year 2018
April 19, 2018 at 01:16 pm
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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.
Tile Shop Holdings, Inc. is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. The Company offers an assortment of natural stone and man-made tile products. Its natural stone products include marble, travertine, granite, quartz, sandstone, slate, and onyx tiles. The Company's man-made products include ceramic, porcelain, glass, cement, wood look, metal and luxury vinyl tile. The Companyâs assortment of accessories, including mosaics, pencils, listellos, and other products. It also offers a range of setting and maintenance materials, such as thinset, grout, sealers, and accessories, including installation tools, shower and bath shelves, drains, and similar products. The Company also offers customers delivery service through third-party freight providers. The Company sells its products under brand names, including Superior Adhesives & Chemicals, Superior Tools & Supplies, Rush River, and Fired Earth.
Tile Shop Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Tax Rate Guidance for the Year 2018