Neenah Paper reported consolidated net sales of $224.1 million in the second quarter of 2015, down 3% compared with $230.4 million reported in the second quarter of 2014. Volume growth in Technical Products and a higher value mix and selling prices in both segments were offset by currency translation, which reduced consolidated sales by 7% or $15 million due to a weaker euro, as well as lower Fine Paper & Packaging shipments.    
 
Record earnings per diluted share of $0.97 increased 8% compared with adjusted earnings per share of $0.90 in 2014.
 
Record operating income of $27.9 million in 2015 increased 5% compared with adjusted operating income of $26.6 million in the second quarter of 2014. Prior year adjusted operating income excluded $0.7 million for restructuring and acquisition costs mostly related to Technical Products. Income growth in 2015 resulted from a higher value mix, improved selling prices and lower input costs that more than offset increased SG&A and negative impacts of currency translation and higher manufacturing costs.
 
Technical Products net sales of $119 million increased 2% compared with prior year sales of $116.9 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. Sales on a constant currency basis grew 15% (4 percent excluding the acquisition), led by gains in transportation and other filtration markets and in labels.
 
Technical Products’ operating income of $15.3 million in the second quarter of 2015 increased 12% compared with prior year adjusted income of $13.7 million. In 2014, adjusted operating income included approximately $0.5 million for restructuring costs. Higher operating income in 2015 resulted from volume growth (including the acquisition), improved net selling prices, and lower input costs. These items were only partly offset by currency impacts.