Lydall Posts Loss
During the fourth quarter, Lydall reported a net loss of $1.2 million compared with a net income of $0.4 million during the same period of 2003. Nets sales increased 19.8% to $75.6 million compared with $63.1 million in 2003. Filtration/Separation sales were up 10.1% while Thermal/Acoustical sales increased 27.8%. For the full year, Lydall reported a net loss of $0.5 million compared with a net income of $7.7 million in 2003. Sales increased 7.8% to $292 million. Lower margins were reportedly caused by the negative impact of restructuring costs, start up gross margin performance of a new facility in France and production inefficiencies of domestic and Germany automotive operations.