Glatfelter reported its results for the 3Q 2018. Consolidated net sales totaled $209.9 million and $210.1 million for the three months ended September 30, 2018 and 2017, respectively. On a constant currency basis, Composite Fibers’ net sales decreased by 0.8% and Advanced Airlaid Materials’ net sales increased by 4.8%, as the company said in the press release received by Lesprom Network.
On an adjusted basis, earnings from continuing operations for the 3Q 2018 were a loss of $0.2 million, or $0.00 per share compared with adjusted earnings of $7.6 million, or $0.17 per diluted share, for the same period a year ago.
Corporate shared services costs totaling $6.9 million and $7.2 million for the 3Q 2018 and 2017, respectively, previously included in Specialty Papers’ results are required to be included in income from continuing operations.
“We made significant progress on our previously announced strategy to transform Glatfelter into a leading, global engineered materials company,” said Dante C. Parrini, Chairman and CEO. “We successfully completed two major transactions, both of which closed in October. The sale of the Specialty Papers business and the acquisition of a nonwovens business in Steinfurt, Germany, support our strategic focus and further solidify our platform for long-term growth. In addition, we are well positioned for growth to accelerate in our airlaid business driven by our new Fort Smith, Arkansas, facility and the Steinfurt acquisition.”
Glatfelter is a leading global supplier of engineered materials.
