Net income for the 3Q 2015 was $4.7 million, an increase of $912,000, or 24%, compared to $3.8 million in the same period in 2014. EBITDA was $10.1 million, an increase of $1.7 million, or 20%, compared to $8.5 million in 2014.
Gross profit for the 3Q 2015 was $9.8 million, an increase of $1.1 million, or 12%, when compared with a gross profit of $8.8 million in the prior year quarter.
Jeff Schoen, President and CEO, stated, "In the 2Q 2015, we discussed our long-term goal to grow Orchids' annual Adjusted EBITDA to approximately $60 million and earnings per share to approximately $2.50 to $3.40 by maximizing sales and profitability across our three manufacturing sites in Oklahoma, Mexico and South Carolina.”
Net sales in the nine-month period ended September 30, 2015 were $126.5 million, an increase of $25.2 million, or 25%, compared to $101.4 million in the same period of 2014.
Net income for the nine-month period ended September 30, 2015 was $9.9 million, an increase of $2.8 million, or 40%, compared to $7 million in the same period in 2014. EBITDA was $22.7 million, an increase of $4.8 million, or 27%, compared to $17.8 million in 2014.
Orchids Paper Products Company produces a full line of tissue products, including paper towels, bathroom tissue and paper napkins, to serve the value through ultra-premium quality market segments from its operations in northeast Oklahoma and Mexicali, Mexico and beginning in 2016 from its Barnwell, South Carolina greenfield site.
