Glatfelter composite fibers Q1 sales remain unchanged

Consolidated net sales for the first quarter of 2013 totaled $405.2 million, a 2.0 percent increase compared with $397.4 million in the first quarter of 2012. 

Composite Fibers’ net sales totaled $111.8 million in the first quarter of 2013, essentially unchanged from the same quarter a year ago, on slightly lower shipping volumes.  Lower average selling prices adversely affected the comparison to the year-earlier quarter by $0.9 million and foreign currency translation favorably affected the comparison by $0.4 million.

First quarter 2013 operating income increased $0.7 million, or 6.6 percent, primarily due to lower depreciation expense and improved operating efficiencies.  In addition, operating income was adversely impacted by approximately $0.7 million due to downtime associated with the rebuild of a machine at the Gernsbach facility. Foreign currency translation unfavorably impacted operating income by $0.5 million compared with the prior-year quarter. 

Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering over a century of experience, technical expertise and world-class service. U.S. operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH.

International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, a representative office in China and a sales and distribution office in Russia. Glatfelter’s sales approximate $1.7 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT.

Glatfelter