Primo Water Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net sales of $40,356,000 compared to $31,476,000 a year ago. Loss from operations was $7,345,000 compared to income from operations of $726,000 a year ago. Net loss was $11,698,000 or $0.39 per basic and diluted share compared to net income of $44,000 or $0.00 per basic and diluted share a year ago. Adjusted EBITDA was $6,335,000 compared to $4,758,000 a year ago, driven by the increase in net sales. Net sales increased 28.2% driven by an increase in both Water and Dispenser segment net sales. Loss from continuing operations was $11,692,000 or $0.39 per basic and diluted share compared to income of $253,000 or $0.01 per basic and diluted share a year ago. Net loss from continuing operations for the quarter primarily as a result of one-time charges related to the Glacier acquisition.

For the year, the company reported net sales of $142,541,000 compared to $126,951,000 a year ago, driven by an increase in both Water and Dispenser segment net sales. Loss from operations was $115,000 compared to income from operations of $4,140,000 a year ago. Net loss was $5,946,000 or $0.21 per basic and diluted share compared to net income of $1,857,000 or $0.07 per basic and diluted share a year ago. Net cash provided by operating activities was $16,375,000 compared to $13,554,000 a year ago. Purchases of property and equipment were $9,859,000 compared to $5,354,000 a year ago. Additions to intangible assets were $55,000 compared to $16,000 a year ago. Adjusted EBITDA was $24,129,000 compared to $18,093,000 a year ago, driven by the increase in net sales and expanded gross margins in both the Water and Dispenser segments. Loss from continuing operations was $5,898,000 or $0.21 per basic and diluted share compared to income of $2,153,000 or $0.08 per basic and diluted share a year ago.

The company affirmed earnings guidance for the first quarter of 2017 and full year 2017. For the first quarter of 2017, the company reaffirmed its expectations for revenues of $62.0 million to $65.0 million and adjusted EBITDA of $8.5 million to $10.0 million.

The company reaffirmed its expectations for 2017 revenues of $280.0 million to $285.0 million and adjusted EBITDA of $52.0 million to $54.0 million.