Lydall Announces Financial Results For The Fourth Quarter And Year Ended December 31, 2010
MANCHESTER, Conn., March 1, 2011 (GLOBE NEWSWIRE) -- Lydall, Inc. (NYSE:LDL) today announced financial results for the fourth quarter and year ended December 31, 2010.
Fourth Quarter ("Q4 2010") and 2010 Year Highlights
- Record Q4 2010 net sales of $95.8 million
- Record 2010 net sales of $338.0 million
- Operating income of $2.0 million in Q4 2010
- Operating income of $4.6 million in 2010
- EPS for Q4 2010 was $(0.02), including tax valuation allowance adjustments of $(0.11) per share, compared to $(0.21) per share in Q4 2009
- EPS for 2010 was $0.16 per share compared to a loss of $(0.88) per share for 2009
- Ended 2010 with $25.0 million in cash, up by $7.4 million from the third quarter of 2010 and up by $2.3 million from the end of 2009
| Summary Financial Results | ||||||||||||||||
| (millions of US dollars, excluding EPS): | ||||||||||||||||
| Fourth Quarter Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2010 | 2009 | Change | % Change | 2010 | 2009 | Change | % Change | |||||||||
| Net sales | 95.8 | 72.5 | 23.3 | 32.1% | 338.0 | 248.9 | 89.1 | 35.8% | ||||||||
| Gross margin | 15.6 | 11.7 | 3.9 | 33.3% | 57.9 | 33.0 | 24.9 | 75.4% | ||||||||
| Gross margin % | 16.3% | 16.1% | 20 bps | 17.1% | 13.3% | 380 bps | ||||||||||
| Operating income/(loss) | 2.0 | (1.6) | 3.6 | 4.6 | (17.8) | 22.4 | ||||||||||
| Net income/(loss) | (0.4) | (3.6) | 3.2 | 2.7 | (14.6) | 17.3 | ||||||||||
| EPS | $ (0.02) | $ (0.21) | $ 0.19 | $0.16 | $ (0.88) | $ 1.04 | ||||||||||
Excluding the negative impact of foreign currency translation, net sales increased by $26.3 million, or 36.2%, in the fourth quarter of 2010 compared with the fourth quarter of 2009, and $95.6 million, or 38.4%, for the year ended December 31, 2010 compared with year ended December 31, 2009.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
