05.01.18
Glatfelter's consolidated net sales totaled $410.6 million and $390.7 million for the three months ended March 31, 2018 and 2017, respectively. Foreign currency translation favorably impacted the year-over-year comparison by $21.8 million. On a constant currency basis, Composite Fibers’ net sales were essentially flat and Advanced Airlaid Materials’ increased by 7.8%. Specialty Papers’ net sales declined 3.1% in the year-over-year comparison.
“Our engineered materials businesses continued to deliver solid performance in the first quarter despite a higher raw material inflation environment,” says Dante C. Parrini, chairman and chief executive officer. “Our Advanced Airlaid Materials business grew shipments by 6% over the prior year period driven by hygiene, wipes and home care products. This business also achieved a major strategic milestone this quarter – beginning production and commercial shipments from our new facility in Fort Smith, AR. In Composite Fibers, growth in wallcover and technical specialty products drove a 3% increase in shipments and a 6% improvement in operating profit.”
“Our engineered materials businesses continued to deliver solid performance in the first quarter despite a higher raw material inflation environment,” says Dante C. Parrini, chairman and chief executive officer. “Our Advanced Airlaid Materials business grew shipments by 6% over the prior year period driven by hygiene, wipes and home care products. This business also achieved a major strategic milestone this quarter – beginning production and commercial shipments from our new facility in Fort Smith, AR. In Composite Fibers, growth in wallcover and technical specialty products drove a 3% increase in shipments and a 6% improvement in operating profit.”
