DXP Enterprises, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported sales of $265,627,000 compared to $222,291,000 a year ago. Operating income was $8,487,000 compared to $7,552,000 a year ago. Income before income taxes was $4,138,000 compared to $9,195,000 a year ago. Net income was $6,655,000 compared to $7,131,000 a year ago. Net income attributable to the company was $6,655,000 compared to $7,381,000 a year ago. Net income attributable to common shareholders was $6,632,000 or $0.36 per diluted share compared to $7,359,000 or $0.42 per diluted share a year ago. EBITDA was $15,807,000 against $20,428,000 a year ago. Adjusted EBITDA was $16,122,000 compared to $22,464,000 a year ago. Free cash flow was $3,363,000 compared to $10,889,000 for fiscal 2016. Adjusted free cash flow was $7,717,000 against $10,889,000 a year ago.

For the year, the company reported sales of $1,006,782,000 compared to $962,092,000 a year ago. Operating income was $33,490,000 compared to $19,332,000 a year ago. Income before income taxes was $16,892,000 compared to $9,674,000 a year ago. Net income was $16,529,000 compared to $7,151,000 a year ago. Net income attributable to the company was $16,888,000 compared to $7,702,000 a year ago. Net income attributable to common shareholders was $16,798,000 or $0.93 per diluted share compared to $7,612,000 or $0.49 per diluted share a year ago. EBITDA was $61,732,000 against $55,232,000 a year ago. Adjusted EBITDA was $64,017 compared to $59,698,000 a year ago. Free cash flow was $9,734,000 compared to $43,138,000 for fiscal 2016. Adjusted free cash flow was $26,788,000 against $43,138,000 a year ago. CapEx at fiscal 2017 was $2.8 million or 0.3% of fiscal 2017 sales.

Going forward, the company currently anticipate a combined federal and state effective state tax rate of approximately 28% to 30% for 2018.