Pivot Technology Solutions, Inc. reported audited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, revenue was $399.4 million, up 1.4% from $394.0 million in fourth quarter of 2016. Adjusted EBITDA was $11.1 million, up 31.5% from $8.5 million in fourth quarter of 2016. Income before income taxes was $6.1 million up 34.1% from $4.6 million in fourth quarter of 2016. Loss for the period was $2.6 million due to the one-time, non-cash tax charge, compared to Income of $2.9 million in fourth quarter of 2016. Reflecting the one-time, non-cash income tax charge, loss per share was $0.07 compared to diluted income per share of $0.05 in fourth quarter of 2016. Cash provided by operating activities improved $11 million compared to the prior year quarter due to changes in noncash working capital.

For the year, revenue was $1.5 billion, up 6.5% from $1.4 billion in 2016. Adjusted EBITDA was $24.1 million, down 4.0% from $25.1 million in 2016. Income before income taxes was $2.8 million compared to loss in the prior year of $4.17 million in 2016. Loss was $5.6 million compared to a loss of $4.3 million in 2016. Loss per share was $0.15 compared to a loss per share of $0.12 in 2016. Loss attributable to shareholders was $6.057 million compared to $4.937 million in 2016.CapEx for the year was just under $2 million

For the year 2018, the company expects to spend $3 million or less on CapEx. For the U.S.,the company expects tax rate will be down 14% from what it was. So the company's federal rate goes from 35% to 21%.