WESTPORT, CT – Advanced Circuits posted second quarter revenue of $22.9 million, up 1.8% year-over-year.

Net income for the quarter was $3.85 million, up 20.7% year-over-year. Adjusted EBITDA was $7.2 million, down 47.4%.

Year-to-date revenue and EBITDA through June 30 both increased 2.4% compared to the same period in 2017. Year to date, revenue was $45 million, while adjusted EBITDA was $14.1 million.

Compass Diversified Holdings, parent company of Advanced Circuits, posted second quarter net income of $500,000, compared to a net loss of $2.7 million for the same quarter last year.

Total generated cash provided by operating activities was $28.7 million, down 23.1% year-over-year. Cash flow available for distribution and reinvestment was $30.3 million during the quarter, down 18.8%.

"During the second quarter, our leading industrial and branded consumer businesses generated strong results," said Elias Sabo, CEO of Compass. "We are pleased to have grown revenues at nine of our subsidiaries, while providing shareholders with solid and growing cash flows and a sizeable distribution."

As of June 30, Compass had approximately $37.5 million in cash and cash equivalents, $498.8 million outstanding on its term loan facility, $400 million in senior notes and $92 million in outstanding borrowings under its revolving credit facility.

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