This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Neenah Paper Reports Second Quarter 2012 Results

Neenah Paper, Inc. (NYSE:NP) today reported adjusted earnings from continuing operations of $0.85 per diluted common share in the second quarter of 2012 compared with earnings of $0.49 per share in the second quarter of 2011. Without adjustments of $0.08 per share ($1.9 million pre-tax) to exclude costs of integrating purchased fine paper brands, earnings on a GAAP basis in the second quarter of 2012 were $0.77 per share. There were no adjusting items in the second quarter of 2011.

Net sales of $211.7 million in the second quarter of 2012 grew 16 percent compared with the second quarter of 2011. Adjusted operating income of $23.9 million increased 52 percent from $15.7 million in the prior year. Adjusted income of $13.9 million increased 78 percent compared to $7.8 million in the prior year. Adjusted earnings are reconciled to GAAP figures later in this release.

“Our businesses set an all-time quarterly record for sales and profits, with Technical Products and Fine Paper each delivering double-digit earnings growth. Our teams are executing well against key objectives of growing high value, performance-oriented Technical Products offerings and delivering the value promised from our expanded Fine Paper business,” said John O’Donnell, Chief Executive Officer. “In addition, both businesses are realizing cost benefits from more efficient manufacturing operations; and this, along with our strong market positions, will serve us well in what may be weaker global economic conditions in the second half of the year.”

Quarterly Segment and Other Financial Results

Technical Products net sales were $106.9 million in the second quarter of 2012, a decrease of seven percent compared with the second quarter of 2011. On a constant currency basis, revenue grew one percent and reflected volume gains in filtration, label and non-woven wall cover products that partially offset lower tape shipments. In addition, sales grew as a result of a higher value mix and increased selling prices for most products. Offsetting these factors was unfavorable currency impacts due to an 11 percent decline in the Euro.

Operating income for Technical Products of $12.3 million in the second quarter of 2012 increased 26 percent compared with $9.8 million in the second quarter of 2011. Higher income in 2012 resulted from growth in higher value products, increased selling prices and improved manufacturing efficiencies that more than offset higher input costs and unfavorable currency translation effects.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.94 -0.73%
FB $117.91 -0.13%
GOOG $700.12 0.64%
TSLA $211.65 -4.90%
YHOO $36.94 2.60%


Chart of I:DJI
DOW 17,642.77 -8.49 -0.05%
S&P 500 2,048.97 -2.15 -0.10%
NASDAQ 4,720.2720 -5.3670 -0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs