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Airlaid sales down $0.8 million in 2016
February 7, 2017
By: Tara Olivo
Glatfelter reported net income of $21.6 million for the year ended December 31, 2016, compared with $64.6 million in the year ended December 31, 2015. Adjusted earnings in 2016, totaled $60.7 million, compared with $58.9 million in 2015. Consolidated net sales for the year ended December 31, 2016, totaled $1.6 billion compared with $1.66 billion in 2015. Net sales totaled $390.9 million and $412.9 million in the fourth quarters of 2016 and 2015, respectively. Lower selling prices unfavorably impacted the quarter-over-quarter comparison by $6.4 million and shipping volumes declined 5.2%. Foreign currency translation unfavorably impacted sales by $4.8 million. Advanced Airlaid Materials’ net sales decreased $0.8 million in the year-over-year comparison primarily due to $0.7 million of lower selling prices reflecting the impact of cost pass-through arrangements. Shipping volumes increased 1.6%, or 3.3% on a square-meter basis, primarily due to continued growth of wipes and table top products.
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