News Column

BRIEF: P.H. Glatfelter reports second-quarter profit

July 29, 2014

By Brett Sholtis, York Daily Record, Pa.



July 29--P.H. Glatfelter Company and Subsidiaries, the York-based manufacturer of specialty paper and fiber-engineered products, reported a second quarter 2014 profit of $4.7 million, up from $0.9 million during second quarter of 2013.

Per-share, Glatfelter earned $0.11, up from $0.02 in the year-ago quarter. Analysts' average estimate for the quarter was $0.10.

The company reported adjusted earnings of $3.8 million, down from $5.1 million of second quarter last year.

Consolidated net sales were $445.3 million for the quarter, a 4.5 percent increase from $426 million in second quarter 2013. Glatfelter attributed this increase to an acquisition in Dresden in April, 2013, and to foreign currency translation.

"Our second quarter results reflect the continued progress of our growth businesses as Composite Fibers and Advanced Airlaid Materials reported operating income increases of 5 percent and 17 percent, respectively," said company chairman and chief executive officer Dante C. Parrini in a press release.

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(c)2014 York Daily Record (York, Pa.)

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Source: York Daily Record (PA)


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