08.01.18
Lydall's net sales increased by $11.5 million, or 6.6%, to $186.4 million, compared to $174.9 million in the second quarter of 2017. The Performance Materials ("PM") segment reported organic sales growth of 3.8% led by improved filtration demand in the air filtration market. The Technical Nonwovens ("TNW") segment reported organic sales growth of 2.6%, led by improved demand for industrial filtration and advanced materials products primarily in the Canadian market. Organic sales in the Thermal Acoustical Solutions ("TAS") segment were essentially flat, as North America sales were negatively impacted by multiple customer shutdowns due to a fire at a U.S. supplier to Lydall's customers. Outside of North America, the segment reported parts sales growth of $5.4 million ($3.4 million net of foreign currency impact), including continued strong growth in Asia. Overall, foreign currency translation increased consolidated net sales by $5.8 million, or 3.3%, in the second quarter of 2018.
