Appvion's 3Q 2016 net sales of $169.2 million were $11.4 million lower than 3Q 2015 primarily due to lower total shipment volume and unfavorable market pricing. Thermal papers net sales were $101.6 million which was $2.2 million higher than 3Q 2015. Carbonless papers net sales of $67.6 million declined $13.6 million compared to 3Q 2015.
Appvion recorded 3Q 2016 operating income of $3.4 million compared to operating income of $4.2 million for 3Q 2015. Current quarter operating income was negatively impacted by a $4.5 million mark-to-market unfavorable variance associated with the Company's retiree benefit plans compared to the same period last year, lower shipment volumes across both paper segments and unfavorable pricing in the carbonless papers segment.
Appvion's net sales for the first nine months of 2016 were $523.3 million; $7.3 million lower than the first nine months of 2015.
The Company reported operating income of $16.9 million for the first nine months of 2016 compared to operating income of $7 million for the same period last year. Increased volume, improved pricing and product mix in the thermal papers segment, lower spending associated with the annual maintenance downtime taken at the Roaring Spring, Pennsylvania mill, continued improvements in operating performance, execution of cost-savings initiatives, and lower SG&A expenses all contributed to the year-over-year improvement.
Appvion produces thermal, carbonless, security, inkjet, digital specialty and colored papers.
