Neenah Paper Releases Impressive Third Quarter Results
Neenah Paper reported its third quarter results on November 4, 2014, and the numbers are promising.
Here are the highlights:
- Record third quarter results for sales, operating income, and earnings per share, including an 8% increase in consolidated sales and a 35% increase in operating income
- Successful integration of Crane Technical Materials, which was acquired July 1, 2014
- 18% increase in earnings per diluted common share, from $0.68 to $0.80; 35% increase in adjusted earnings, from $0.61 to $0.83 (NOTE: Adjusted earnings exclude a cost of $0.03 per share for Technical Products restructuring. Adjusted earnings also exclude a net benefit of $0.07, largely from one-time state tax credits)
- Free cash flow of $15 million
John O’Donnell, Neenah Paper’s Chief Executive Officer says that these encouraging figures are the result of “gains in filtration, technical specialties and premium fine paper brands”. He also notes that the “acquisition integration is going very well and is providing new opportunities for growth in filtration, as well as other attractive niche markets”.
Read Neenah Paper’s press release for a more detailed report of their third quarter results.
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