KapStone Paper and Packaging Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company's net sales were $858.682 million compared with $777.495 million a year ago, reflecting higher prices for containerboard and corrugated products. Operating income was $78.061 million compared with $37.525 million a year ago. Income before provision for income taxes was $63.177 million compared with $27.223 million a year ago. Net income was $187.709 million or $1.90 per diluted share compared with $18.338 million or $0.19 per basic and diluted share a year ago. EBITDA was $125.191 million compared with $84.021 million a year ago. Adjusted EBITDA was $135.930 million compared with $91.824 million a year ago. Adjusted net income was $50.034 million or $0.51 per diluted share compared with $23.215 million or $0.24 per diluted share a year ago. Net cash provided by operating activities was $149.549 million compared with $69.533 million a year ago. Purchase of intangible assets was $0.5 million. Capital expenditures were $30.346 million compared with $27.619 million a year ago. Adjusted EBITDA was increased by $44 million compared to the fourth quarter of 2016 as: $57 million due to higher selling prices; Higher sales volume of $3 million; Productivity improvements and cost savings of $10 million, and $6 million due to the impact of Hurricane Matthew in 2016, which did not recur. For the year, the company's net sales were $3,315.660 million compared with $3,077.257 million a year ago. The increase was due to higher prices, a better product mix and higher volumes in the paper and packaging segment. Operating income was $199.125 million compared with $170.646 million a year ago. Income before provision for income taxes was $148.283 million compared with $128.182 million a year ago. Net income was $243.503 million or $2.47 per diluted share compared with $86.252 million or $0.88 per diluted share a year ago. The increase was mainly due to a provisional tax benefit of $144 million based on the new tax law enacted on December 22, 2017. EBITDA was $387.366 million compared with $350.473 million a year ago. Adjusted EBITDA was $437.155 million compared with $384.234 million a year ago. Adjusted net income was $130.234 million or $1.32 per diluted share compared with $107.353 million or $1.10 per diluted share a year ago. Net cash provided by operating activities was $325.468 million compared with $281.920 million a year ago. Purchase of intangible assets was $2.5 million. Capital expenditures were $138.358 million compared with $126.865 million a year ago. Adjusted EBITDA was increased by $53 million compared to 2016 as: $155 million due to higher selling prices; higher sales volume and improved operating performance of $10 million, and $6 million due to the impact of Hurricane Matthew in 2016, which did not recur.