Net income for the 2Q 2015 was $3.9 million, an increase of $3.3 million, or 610%, compared to $546,000 in the same period in 2014. EBITDA was $8 million, an increase of $4.6 million, or 140%, compared to $3.3 million in 2014.
Jeff Schoen, President and CEO, stated, "We are pleased with our 2Q results, which reflect increases in the volume of converted products shipped from both Pryor and Mexicali, along with increased parent roll sales from the additional tonnage provided by the new paper machine in Pryor, which started up in March 2015. The new converting line at our Pryor location started up in June 2015 and is exceeding our start-up expectations. We believe this line, along with continued optimization of our existing assets, will further improve our manufacturing flexibility, capacity and cost structure, providing Orchids with the opportunity to continue to competitively grow our sales."
Net sales in the six-month period ended June 30, 2015 were $79.7 million, an increase of $22.8 million, or 40%, compared to $57 million in the same period of 2014.
Net income for the six-month period ended June 30, 2015 was $5.1 million, an increase of $1.9 million, or 60%, compared to $3.2 million in the same period in 2014. EBITDA was $12.5 million, an increase of $3.2 million, or 34%, compared to $9.4 million in 2014.
Orchids Paper Products Company is a customer-focused, national supplier of high quality consumer tissue products primarily serving the at home private label consumer market.
