03.09.15
Neenah Paper reported fourth quarter sales of $216.6 million, a 6% increase compared tp the fourth quarter of 2013. For the full year, consolidated net sales of $902.7 million increased 7% compared with the prior year, with 12% growth in Technical Products and 2% growth in Fine Paper & Packaging.
“In 2014, every one of our businesses delivered record organic top and bottom line results along with impressive cash from operations. We are successfully executing our strategy to increase our presence in profitable, growing markets like filtration, high-end performance products and premium packaging and at the same time have significantly increased cash returns to shareholders through a growing dividend,” says John O’Donnell, CEO.
Technical Products net sales of $110.7 million in the fourth quarter of 2014 increased 12% compared with prior year sales of $98.9 million. The growth in sales resulted from increased volumes (including the acquisition), a higher value product mix and increased selling prices, partly offset by unfavorable currency effects. Organic sales on a constant currency basis grew 5%, led by gains in filtration and specialties. Technical Products’ 12% increase was a result of both the July 1 filtration acquisition and 6% organic growth across all product groups.
“In 2014, every one of our businesses delivered record organic top and bottom line results along with impressive cash from operations. We are successfully executing our strategy to increase our presence in profitable, growing markets like filtration, high-end performance products and premium packaging and at the same time have significantly increased cash returns to shareholders through a growing dividend,” says John O’Donnell, CEO.
Technical Products net sales of $110.7 million in the fourth quarter of 2014 increased 12% compared with prior year sales of $98.9 million. The growth in sales resulted from increased volumes (including the acquisition), a higher value product mix and increased selling prices, partly offset by unfavorable currency effects. Organic sales on a constant currency basis grew 5%, led by gains in filtration and specialties. Technical Products’ 12% increase was a result of both the July 1 filtration acquisition and 6% organic growth across all product groups.