Sales were $93 million compared to $77.7 million the year before; gross profit increased from $11 million to $14.5 million, due to higher sales and margin improvements during the third quarter, which offset lower gross profit in the Performance Materials segment.
"The third quarter of 2011 continued to demonstrate strong sales and customer demand for Lydall products," says chairman and CEO Dale Barnhart. "We have made good progress on manufacturing and process improvements in our fiber parts product family of the Thermal/Acoustical segment, and the metals parts product family has consistently performed well. We incurred significant maintenance and certain one-time costs in the Performance Materials segment in the third quarter which contributed to disappointing period results. But excluding the impact of the sale of the electrical papers product line in 2010, the segment still performed well on a year-to-date basis compared to the prior year."