ICU Medical. Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of $360,460,000 against $331,218,000 a year ago. Total revenue was $360,460,000 against $331,514,000 a year ago. Income from operations was $29,997,000 against loss of $35,932,000 a year ago. Income before income taxes was $29,597,000 against loss of $39,177,000 a year ago. Net income was $31,054,000 against loss of $37,060,000 a year ago. Net income per diluted share was $1.44 against loss of $1.87 million a year ago. Adjusted EBITDA was $77,401,000 against $46,950,000 a year ago. Adjusted diluted earnings per share were $2.66 against $0.76 a year ago. The company finished the quarter with approximately $341 million in adjusted revenue. The company generated $80 million of operating cash.
The company spent $21 million on CapEx for general maintenance, integration and infrastructure.

For the six months, the company reported net sales of $732,493,000 against $578,461,000 a year ago. Total revenue was $732,493,000 against $579,253,000 a year ago. Income from operations was $32,929,000 against loss of $52,915,000 a year ago. Income before income taxes $33,420,000 against $6,671,000 a year ago. Net income was $35,929,000 against $18,803,000 a year ago. Net income per diluted share was $1.67 against $0.93 a year ago.

For the fiscal year 2018, the company expects adjusted EBITDA from a range of $240 million to $260 million to a range of $270 million to $280 million and adjusted earnings per share from a range of $6.60 to $7.30 to a range of $8.30 to $8.70. The company
expect capital expenditures to come down to approximately 3% to 5% of revenues.

The company expects tax rate for the second half of the year should be approximately 20% to 22%.