The Simply Good Foods Company announced Consolidated Unaudited earnings results for the first quarter ended November 25, 2017. For the quarter, the company reported net sales of $106,587,000 compared to $99,803,000 a year ago. Income from operations was $19,286,000 compared to $18,460,000 a year ago. Income before income taxes was $16,708,000 compared to $11,686,000 a year ago. Net income was $10,218,000 compared to $6,787,000 a year ago. The increase was primarily driven by the gross profit improvement, partially offset by a 7.0% increase in marketing spend and a 17.5% increase in general and administrative expenses as a result of public company costs and the addition of Wellness Foods. Earnings per share from net income: basic and diluted $0.14. Net cash provided by operating activities was $8,833,000 compared with $8,635,000 a year ago. Purchases of property and equipment were $661,000 compared with $41,000 a year ago. EBITDA was $21,661,000 compared to $21,202,000 a year ago. Adjusted EBITDA was $23,710,000 compared to $22,251,000 a year ago.

The company expects fiscal year 2018 net sales growth to be consistent with its previously stated long-term growth algorithm of 4% to 6% and Adjusted EBITDA growth at a slightly higher rate than net sales, including the impact of an incremental $2.0 million of public company expenses.