SARASOTA -- Former Manatee County-based tape manufacturer Intertape Polymer Group is reporting a 15 percent jump in its net income before taxes for the second quarter of 2015.
The company, which moved its U.S. headquarters from Manatee County to Sarasota County in 2013, brought in total revenues for the three-month period ended June 30 of $196.6 million. That figure is up 4 percent from the first three months of the year, according to an Intertape press release. Its earnings before interest, taxes, depreciation and amortization, or EBITDA, were $27.1 million.
Publicly traded Intertape ramped up production at its new Blythewood, S.C., duct-tape facility during the quarter. It reported a "net negative impact on gross profit and adjusted EBITDA" of $1.3 million.
Intertape, which is also headquartered in Quebec, Ontario, has plans to produce masking tape in its South Carolina factory. The new factory is a relocation and modernization of the company's Columbia, S.C. manufacturing operation.
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Intertape employs about 1,950 employees with operations in 16 locations, including 11 manufacturing facilities in North America and one in Europe. Shares in the company were trading at $15.01 on the New York Stock Exchange on Monday morning.