Versum Materials, Inc. announced unaudited consolidated financial results for the quarter & nine months ended June 30, 2018. For the quarter, the company reported sales of $350.0 million against $290.8 million for the same period a year ago, driven by growth from both the Delivery Systems & Services and Materials segments. Operating income was $96.2 million against $81.0 million for the same period a year ago. Income before taxes was $83.7 million against $69.1 million for the same period a year ago. Net Income Attributable to company was $63.3 million against $52.7 million for the same period a year ago. Basic and diluted net income per share was $0.58 per share against $0.48 per share for the same period a year ago. Adjusted EBITDA was $116.8 million against $97.7 million for the same period a year ago. Adjusted net income was $68.9 million against $56.6 million for the same period a year ago. Adjusted diluted earnings per share were $0.63 per share against $0.52 per share for the same period a year ago.

For the nine months, the company reported sales of $1,021.5 million against $832.4 million for the same period a year ago. Operating income was $274.5 million against $230.0 million for the same period a year ago. Income before taxes was $236.7 million against $195.0 million for the same period a year ago. Net Income Attributable to company was $143.5 million against $148.4 million for the same period a year ago. Diluted net income per share was $1.31 per share against $1.36 per share for the same period a year ago. Adjusted EBITDA was $329.0 million against $277.8 million for the same period a year ago. Adjusted net income was $192.6 million against $157.4 million for the same period a year ago. Adjusted diluted earnings per share were $1.76 per share against $1.44 per share for the same period a year ago. Cash provided by operating activities was $135.6 million against $186.8 million for the same period a year ago. Additions to plant and equipment was $90.0 million against $41.4 million for the same period a year ago.

For the fourth quarter, adjusted effective tax rate is estimated to be in the range of 24% to 26%.

For fiscal year 2018, the company is narrowing its outlook to estimated sales of $1,330 to $1,360 million and Adjusted EBITDA of $430 to $445 million from prior guidance of $1,320 to $1,360 million and $425 to $445 million, respectively. The fiscal year 2018 Adjusted EBITDA outlook excludes approximately $15 to $20 million of estimated one-time stand-up costs related to the implementation of own enterprise resource planning (ERP) system and relocation of certain administrative and research and development personnel to Versum Materials sites. The company estimates capital spending for the year to be approximately $120 million. For the total fiscal year, the company still estimates depreciation and amortization to be $50 million to $55 million, and net income attributable to noncontrolling interest to be approximately $6 million. Adjusted effective tax rate is estimated to be in the range of 23% to 25%.