Glatfelter reported 1Q earnings of $11.2 million
Apr 29, 2009. Glatfelter reported earnings of $11.2 million, or 24 cents per diluted share for the first three months of 2009, compared with $11.4 million, or 25 cents per diluted share in 2008.
Apr 29, 2009. /Lesprom Network/. Glatfelter reported earnings of $11.2 million, or 24 cents per diluted share for the first three months of 2009, compared with $11.4 million, or 25 cents per diluted share in 2008, as Trading Markets informed Lesprom Network.
Glatfelter would have surpassed last year's earnings per share had it not incured a 7-cent per share cost from a change in employee pension expenses.
Net sales during the 1Q 2009 were $291.6 million, a 4.6 percent decrease compared with $305.5 million for the first quarter of 2008, primarily due to foreign currency changes, the company reported.
George H. Glatfelter II, Chairman and CEO, said the company was able to deliver strong results despite economic challenges because of its broad product portfolio, product development capabilities, and "compelling value proposition to our customers.
Though some of Glatfelter's markets have been impacted by the global recession, the company addressed the downward pressure through operating flexibility, effective management of its product mix and by growing selective segments of its business to offset declines in others, he said.
Glatfelter is a global manufacturer of specialty papers and engineered products, offering over a century of experience, technical expertise and world-class service. 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.