Glatfelter’s consolidated net sales totaled $232.5 million and $209.9 million for the three months ended September 30, 2019 and 2018, respectively, as the company says in the press release received by Lesprom Network.
Excluding the Steinfurt, Germany acquisition and on a constant currency basis, Airlaid Materials’ net sales increased by 14.2% and Composite Fibers’ net sales decreased by 4.2%.
On an adjusted basis, earnings from continuing operations for the 3Q 2019 were $9.7 million, or $0.22 per share, compared with $(0.2) million, or $0.00 per share, for the same period a year ago.
“Glatfelter delivered another quarter of solid performance driven by continued momentum in Airlaid Materials and accelerated progress toward our previously announced cost reduction targets,” said Dante C. Parrini, Chairman and CEO. “In the 3Q, Airlaid Materials had another record-setting quarter growing both volumes and net sales by nearly 50% and more than doubling operating profit over the prior year. These results were driven by a 16% increase in year-over-year shipments from our legacy business, as well as the successful integration of our Steinfurt acquisition. We continued to make progress reducing our corporate costs during the quarter and expect to exceed our 2019 targeted savings.”
Glatfelter is a leading global supplier of engineered materials.
