Neenah's consolidated net sales increased 5% to $245.1 million in the 3Q 2017, compared with $232.9 million in the 3Q 2016. Higher revenues were primarily due to volume-driven increases in Technical Products, as well as favorable currency effects and modest growth in Fine Paper and Packaging due to higher average selling prices. On a constant currency basis, consolidated net sales grew 4%.
Operating income of $29 million in 3Q 2017 increased 8% from $26.9 million in 2016. Income from continuing operations of $18.8 million increased 15%, compared with $16.4 million in the 3Q 2016. Higher income resulted from increased operating income and benefits from the lower tax rate.
Consolidated net sales of $735.9 million for the nine months ended September 30, 2017 were $14.9 million higher than the prior year.
Consolidated operating income of $85.2 million for the nine months ended September 30, 2017 decreased $7 million from the prior year period.
Net income from continuing operations of $61.4 million in 2017 increased 8% compared with $57 million in 2016.
Neenah is a leading global specialty materials company. Key products and markets include advanced filtration media, specialized performance substrates used for tapes, labels and other products, and premium printing and packaging papers.
