Neenah Paper's 2Q net sales increased by 1% to $248.7 million
7 August 2017
Neenah Paper's consolidated net sales increased 1% to $248.7 million in the 2Q 2017, compared with $246 million in the 2Q 2016 primarily due to increased volumes and a higher value mix of products sold.
Operating income of $29.2 million in 2017 declined from $33.9 million in 2016. The decline was primarily due to higher manufacturing costs resulting from the U.S. filtration business start-up, higher input costs, unplanned downtime in Fine Paper and Packaging, and unfavorable currency effects in Technical Products.
Consolidated net sales of $490.8 million for the six months ended June 30, 2017 were $2.7 million higher than the prior year.
Consolidated operating income of $56.2 million for the six months ended June 30, 2017 decreased $9.1 million from the prior year period. The decline was primarily due to higher manufacturing costs resulting from the U.S. filtration business start-up, increases in input costs and unfavorable currency effects in Technical Products.
Net income from continuing operations of $42.6 million in 2017 increased 5% compared with $40.6 million in 2016.
Neenah is a leading global specialty materials company, focused on premium niche markets that value performance and image. Key products and markets include advanced filtration media, specialized performance substrates used for tapes, labels and other products, and premium printing and packaging papers.