02.23.18
Lydall's net sales in the fourth quarter of 2017 increased by $33.8 million, or 23.5%, to $178 million, compared to $144.2 million in the fourth quarter of 2016. The Technical Nonwovens ("TNW") segment reported increased net sales of $25.6 million, including $14.2 million from the December 31, 2016, acquisition of Gutsche. TNW’s organic sales growth was 21.4%, led by advanced materials sales in North America, as well as, increased demand for industrial filtration products, particularly in China and Europe. The Thermal/Acoustical Metals ("T/A Metals") segment realized organic sales growth of 10.6% led by international operations. The Performance Materials ("PM") segment reported organic sales growth of 8.8%, primarily due to improved filtration demand in the fluid power market. The Thermal/Acoustical Fibers ("T/A Fibers") segment reported 0.8% organic growth as increased volume of 3.6% was partially offset by lower customer pricing. Foreign currency translation increased net sales by $4.7 million, or 3.3%, in the fourth quarter of 2017.
For the full year, net sales were $698.4 million compared to $566.9 million in 2016, including net sales of $87.3 million contributed by acquisitions. Organic sales growth was 7.2%, with above market growth in all segments, led by TNW segment organic growth of 16.5%.
For the full year, net sales were $698.4 million compared to $566.9 million in 2016, including net sales of $87.3 million contributed by acquisitions. Organic sales growth was 7.2%, with above market growth in all segments, led by TNW segment organic growth of 16.5%.
