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Airlaid volumes up due to growth in wipes and personal hygiene products
May 2, 2017
By: Tara Olivo
Glatfelter reported first quarter of 2017 net income of $11.6 million compared with $16.2 million in the first quarter of 2016. Adjusted earnings for the first quarter of 2017 were $17.2 million compared with $16.3 million for the same period a year ago. Consolidated net sales totaled $390.7 million and $402.2 million for the three months ended March 31, 2017 and 2016, respectively. Lower selling prices and foreign currency translation unfavorably impacted the quarter-over-quarter comparison by $6.8 million each. Advanced Airlaid Materials’ net sales decreased $1 million in the year-over-year comparison primarily due to a $1.1 million unfavorable impact from currency translation and $0.4 million of lower selling prices reflecting the impact of cost pass-through arrangements. Shipping volumes increased 1.2%, primarily due to continued growth of wipes and personal hygiene products.
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