Glatfelter reported 1Q net loss of $0.4 million
May 04, 2010. Glatfelter reported 1Q 2010 adjusted earnings of $8.7 million, which excludes acquisition and integration costs, compared with $11.2 million in the 1Q 2009. 1Q net loss was $0.4 million, compared with net income of $11.5 million for the same quarter last year.
May 04, 2010. /Lesprom Network/. Glatfelter reported 1Q 2010 adjusted earnings of $8.7 million, which excludes acquisition and integration costs, compared with $11.2 million in the 1Q 2009. 1Q net loss was $0.4 million, compared with net income of $11.5 million for the same quarter last year, company said in a statement received by Lesprom Network.
Consolidated net sales for the 1Q 2010 were $337.3 million, a 15.7% increase compared with $291.6 million for the 1Q 2009.
“Each of our businesses is beginning to benefit from stronger order patterns as the economy improves,” said George H. Glatfelter II, Chairman and CEO.
“During the quarter, volumes shipped in our Specialty Papers business increased 4% and the Composite Fibers business was up 11% compared with a year ago reflecting improving market demand and successful business development initiatives. As a result, our operating rates are at or near capacity. However, it was an uncharacteristically challenging quarter from an operating perspective and rising input costs, particularly purchased pulp, put some pressure on margins. Recent announcements of selling price increases are expected to address much of this challenge going forward.”
Glatfelter is a global manufacturer of specialty papers and engineered products, offering over a century of experience, technical expertise and world-class service.