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Lydall Rolls Out Second Quarter Results

September 1, 2009

Lydall has closed its second quarter with declines in both sales and earnings. Net sales for the second quarter of 2009 were $56 million, compared with $84 million for the same period in 2008. Excluding the impact of foreign currency translation, net sales decreased by $24.6 million, or 29.3%, in the second quarter of 2009 compared with the second quarter last year.

Net sales for the six months ended June 30, 2009 were $110.3 million compared with $173.9 million for the comparable period of 2008. Excluding the impact of foreign currency translation, net sales decreased by $57 million, or 32.8%, in the first half of 2009, compared with the first half of 2008.

In the Performance Materials segment, net sales were $23.2 million compared with $31.2 million in the same period last year. Excluding the impact of foreign currency translation, segment net sales decreased $7 million in the second quarter 2009. Net sales of filtration products decreased by $3 million primarily due to reductions in air filtration product net sales. Net sales of industrial thermal insulation products decreased by $4 million in the first quarter of 2009 as compared to the same period of 2008.
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