Turning Point Brands, Inc. announced consolidated financial results for the third quarter and nine months ended September 30, 2017. For the quarter, the company's net sales were $73,340,000 compared to $50,959,000 a year ago. Operating income was $14,376,000 against $11,891,000 a year ago. Income before income taxes was $10,484,000 against $6,613,000 a year ago. Consolidated net income was $7,374,000 or $0.38 per diluted share compared to $6,793,000 or $0.34 per diluted share a year ago. EBITDA was $15,103,000 compared to $12,480,000 a year ago. Adjusted EBITDA was $15,871,000 compared to $13,678,000 a year ago. Capital expenditures in the third quarter 2017 totaled $0.5 million.

For the nine months, the company's net sales were $212,214,000 compared to $152,406,000 a year ago. Operating income was $38,768,000 against $33,576,000 a year ago. Income before income taxes was $19,984,000 against $10,468,000 a year ago. Net income attributable to the company was $16,690,000 or $0.86 per diluted share compared to $9,826,000 or $0.58 per diluted share a year ago. Net cash provided by operating activities was $20,391,000 compared to net cash used in operating activities of $476,000 a year ago. Capital expenditures were $1,052,000 compared to $1,245,000 a year ago. EBITDA was $41,376,000 compared to $35,083,000 a year ago. Adjusted EBITDA was $45,261,000 compared to $38,955,000 a year ago. Net debt at September 30, 2017 was $206.7 million, compared to $215.3 million as of December 31, 2016, a decrease of $8.6 million.

The company anticipates that effective GAAP tax rate will be approximately 41% in the fourth quarter of 2017.

For the year of 2017, the company expects CapEx of approximately $2 million. The company anticipates that effective GAAP tax rate will be approximately 27% for the year.