11.01.17
Lydall’s net sales increased by $24.3 million, or 15.6%, to $180 million, compared to $155.7 million in the third quarter of 2016. The Technical Nonwovens ("TNW") segment reported increased net sales of $21 million, including $13.9 million from the Gutsche acquisition that occurred on December 31, 2016. TNW’s organic sales growth was 11.7%, led by advanced materials sales and improving filtration demand globally. In the Thermal/Acoustical Metals ("T/A Metals") segment, organic sales growth was 1.7% from growth internationally. The Performance Materials ("PM") segment reported organic sales growth of 0.7% due to improved filtration demand, net of a 1.9% reduction from product termination buys realized in the third quarter of 2016. In the Thermal/Acoustical Fibers ("T/A Fibers") segment, increased volume was offset by lower customer pricing, including approximately 1.5% of adjustments from part design changes, resulting in an organic sales decline of 0.9% in the third quarter of 2017. Global automotive tooling net sales increased $3.4 million, or 2.2%, in advance of new platform launches, primarily in the T/A Metals segment. Foreign currency translation increased net sales by $2.6 million, or 1.7%, in the third quarter of 2017.