Sales Decrease for Glatfelter

Glatfelter reported first quarter 2015 net income of $13.9 million and adjusted earnings of $13.4 million, compared to a net income of $14.6 million and adjusted earnings of $14.1 million for the first quarter of 2014.

Consolidated net sales totaled $417.5 million during the first quarter of 2015 compared with $455.7 million in the first quarter of 2014.  Currency translation adjustments unfavorably impacted the year-over-year comparison by $28 million reflecting a significantly stronger U.S. dollar.

In the company’s Advanced Airlaid Materials business, net sales decreased $9 million largely due to $7.2 million of unfavorable foreign currency translation and a 4.1% decline in shipping volumes, which more than offset a $1.7 million benefit from higher selling prices.

Also in Airlaid, first quarter 2015 operating income declined $0.6 million compared to the same quarter a year-ago as the benefit from higher selling prices was more than offset by $0.9 million from higher raw material and energy prices and $1.2 million from the adverse impact of foreign currency translation.