our customer base." Second Quarter 2017, Relative to Second Quarter 2016 Net sales. The non-gaap financial measures used within this press release are: (1) ebitda, (2) Adjusted ebitda, (3) Operating Cash Flow, less changes in working capital, and (4) Changes in working capital. As of June 30, 2017, the borrowings under the credit agreement and the term loan that are due in 2022 were classified as current on the balance sheet due to uncertainty regarding our ability to meet the existing debt covenants over the next twelve-month period. Those intending to access the teleconference should dial in fifteen minutes prior to the start. All of the forward-looking statements herein are qualified by these cautionary statements. Q2 2017, q2 2016, q1 2017 (Dollars in thousands, except per share data) (unaudited net sales: Converted product 34,697 39,339 32,898, parent rolls 3,746 75 2,456. Ebitda, Adjusted ebitda, Operating Cash Flow less changes in working capital, and Changes in working capital are not measurements of financial performance under gaap and should not be considered as an alternative to net income, operating income, diluted net income per share or any other. The effective combined tax rate estimated in the second quarter of 2017 is 21, lower than the statutory rate due principally to Oklahoma tax incentives received that are not proportional to income. SG A expenses increased.8 million principally due to increased legal and professional fees and the timing free
of employee medical claims. In some cases, forward-looking statements can be identified by terminology such as "may "should "could "expects "plans "intends "anticipates "believes "estimates "predicts "potential "will" or "continue" or the negative of such terms or other comparable terminology. . (0.08) (0.28).78 Diluted (0.20). A tax benefit.4 million was recognized in the second quarter of 2017. Operating Cash Flow less changes in working capital is believed to provide an estimate of the cash generated from all operating activities, prior to investments in or liquidations of operating assets and liabilities and therefore may indicate trends in operating performance and may call out. These measures are also commonly used in the industry and are used by our lenders in monitoring adherence to covenants. Forward-Looking Statements This release contains forward-looking statements that involve certain contingencies and uncertainties. . (0.08) (0.28).77 Cash dividends paid,193 Cash dividend declared per share.70 Orchids Paper Products Company and Subsidiaries Selected Balance Sheet Data (Dollars in thousands) Jun. SG A expenses increased.7 million principally due to increased legal and professional fees, the timing of employee medical claims, and the timing of recognition of Directors stock options. The Company paid dividends.6 million in the second quarter of 2017, which is included in Financing activities. Sales volumes continued at relatively low historical levels through May, and then in June the previously announced new business with its resultant revenues kicked-in. About Orchids Paper Products Company 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. . Most interest was capitalized to the Barnwell, South Carolina, capital project, pending its completion. At June 30, 2017, our leverage ratio was.8, and the fixed charge coverage ratio was (0.2).
Orchids paper products competotr
Operating costs per ton will decline significantly. PR Newswire 18 paper days ago, operating efficiencies, in the Companyapos. quot; for more information on the Company and its products.
Management believes that Changes in working capital provides an indication of the cash invested in or provided by changes in operating assets and liabilities and therefore may indicate trends in operating performance and may call out a significant source or use of cash during any.A tax benefit.4 million was also recognized in the first quarter of 2017, reflecting the Company's recognition of Oklahoma, South Carolina, Indian Employment, and Foreign tax credits.We expect to optimize both quality and cost by the end of 2017, which will increase our competitiveness in the ultra-premium and premium product channels." "The new capacity at Barnwell represents about 35,000 tons of ultra-premium and premium tissue paper. .