Glatfelter reported 2Q 2016 net income of $2 million, compared with $2.8 million in the 2Q 2015. Adjusted earnings for the 2Q 2016 were $2.8 million, compared with $1.8 million for the same period a year ago.
Consolidated net sales totaled $406.4 million and $410.8 million in the 2Q 2016 and 2015, respectively. Currency translation adjustments favorably impacted the year-over-year comparison by $0.7 million.
“Glatfelter’s 2Q performance was in line with our expectations and reflects higher shipments in all three of our business units,” said Dante C. Parrini, Chairman and CEO. “Advanced Airlaid Materials’ operating profit more than doubled driven by our continued ability to improve efficiencies to meet growing demand in key market segments. In Composite Fibers, shipments improved 3%, and 10% on a sequential quarter basis as we continued to see signs of stability in the wallcover markets. Our Specialty Papers business unit effectively executed its annual maintenance outages and continued to outperform the broader uncoated freesheet market.”
The Company reported net income of $18.1 million for the first six months of 2016 compared with $16.8 million in the first six months of 2015. Adjusted earnings totaled $19.1 million, compared with $15.2 million in 2015.
Glatfelter is a global supplier of specialty papers and fiber-based engineered materials, offering innovation, world-class service and over a century and a half of technical expertise.
