This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Materion Corporation Reports Stronger Than Expected First Quarter Financial Results

Stocks in this article: MTRN

Materion Corporation (NYSE:MTRN) today reported first quarter financial results.

  • First quarter 2014 GAAP earnings were $0.35 per share. Excluding costs associated with the previously announced facility closing and a benefit from the sale of related assets, first quarter adjusted earnings were $0.29 per share, exceeding the previously provided guidance of $0.20 to $0.25 per share
  • Net sales were $258.9 million, which compares to sales of $299.2 million in the first quarter of 2013. Value-added sales for the first quarter of 2014 were $144.9 million, compared to value-added sales of $151.3 million for the first quarter of the prior year. The decline in value-added sales is due to destocking in the automotive electronics market, continued defense sequestration and weather-related and other factors
  • Early in the second quarter, the Company reached a settlement with its insurance carrier related to its claim for the silver theft at its Albuquerque, New Mexico facility. A cash settlement of $6.8 million will favorably affect second quarter earnings
  • Excluding the benefit of the aforementioned sale of assets and insurance recovery, the Company, at this time, is confirming its previously announced earnings range for the full-year 2014 of $1.75 to $1.95 per share


Sales for the first quarter were $258.9 million, compared to sales of $299.2 million for the first quarter of 2013. Value-added sales (sales less pass-through metals as defined in Attachment 4) for the first quarter were $144.9 million, compared to value-added sales of $151.3 million for the first quarter of 2013. A portion of the decline in the first quarter sales is due to the timing of hydroxide shipments and weather-related facility shutdowns. Also contributing to the sales decline was destocking in the automotive electronics market. Value-added sales were lower in the industrial components, medical, telecommunications infrastructure and defense markets and higher in the consumer electronics and energy markets.

1 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim 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
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David 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
Dividend Stock Advisor
Try it NOW

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
Real Money Pro
Try it NOW

All 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 Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs