Adjusted earnings for the 1Q 2016 were $16.3 million, a 23% increase compared with $13.4 million for the same period a year ago.
Consolidated net sales totaled $402.2 million and $417.5 million in the first quarters of 2016 and 2015, respectively.
Currency translation adjustments unfavorably impacted the year-over-year comparison by $5.2 million.
“Glatfelter is off to a solid start in 2016 as a result of our focus on operational excellence and leadership positions in key markets,” said Dante C. Parrini, Chairman and CEO. “Our Advanced Airlaid Materials and Specialty Papers businesses reported operating income increases of 25% and 58%, respectively, compared with the 1Q 2015, with improved operations and increased shipping volumes. The strong performance of these two businesses was partially offset by lower operating income in the Composite Fibers business, which was impacted by softer demand during the quarter for food and beverage products after a strong 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.
