Glatfelter reported 4Q net income of $46 million
Feb 15, 2010. Glatfelter said its 4Q net income increased to $46.0 million or $1.00 per share from $13.4 million or $0.29 per share in the prior year period.
Feb 15, 2010. /Lesprom Network/. Glatfelter reported results for the 4Q and full year ended December 31, 2009. Net sales for the 4Q 2009 rose slightly to $301.1 million, compared with $298.3 million for the 4Q 2008.
Glatfelter said its 4Q net income increased to $46.0 million or $1.00 per share from $13.4 million or $0.29 per share in the prior year period.
Total revenues for the quarter rose to $308.25 million from $300.05 million in the comparable period.
George H. Glatfelter II, Chairman and CEO said: “In the 4Q, with shipment levels up over 2%, the Specialty Papers business unit continued to outperform the broader North American uncoated free sheet market which experienced a decrease of approximately 2% in shipments. In addition, the Composite Fibers business unit’s top-line improved after a difficult year due to the stabilization of its core food & beverage papers markets and growth in its other product lines. These results, coupled with free cash flow generation of $138 million during the year, demonstrate the strength and resiliency of our business model and the dedication of our people around the world.”
For the full year ended December 31, 2009, the company’s net sales totaled $1,184 million compared to $1,264 million in 2008. Net income in 2009 totaled $123.4 million compared with $57.9 million in 2008.
Glatfelter produces specialty papers and engineered products. U.S. operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH. International operations include facilities in Germany, France, the United Kingdom and the Philippines and a representative office in China and a sales and distribution office in Russia.