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Net income falls 6.74% in 2015 at Glatfelter

15 Feb '16

2 min read

Glatfelter, a US based global technical textiles and specialty papers company, reported a fall of 6.74 per cent in its consolidated net income in 2015 to $64.6 million as compared to $69.2 million in the previous year, according to an unaudited statement released by the company.

Diluted Earnings per Share (EPS) for this period was $1.47 as compared to a diluted EPS of $1.57 in 2014. Basic EPS was $1.49 in 2015 as compared to $1.60 in 2014.

Gross profit was reported to be $202.96 in 2015 as compared to $235.15 in 2014, reflecting a fall of 13.68 per cent.

Consolidated net sales for the company were $1,661.08 million in 2015 as compared to $1,802.41 in the previous year, reflecting a fall of 7.84 per cent.

Commenting on the results, Dante Parrini, chairman and CEO of Glatfelter said, “Overall, I am pleased with how our team managed through the many challenges we faced in 2015. As we enter 2016, we remain mindful of the weakness in Russia and Ukraine, which continues to impact the nonwoven wall cover market, as well as the effect of a weak Euro.

“Our efforts to continuously improve the safety, reliability and efficiency of our operations, manage costs and bring new value-added products to market will continue to be critical to our success in 2016 and beyond,” he added. (MCJ)

Fibre2Fashion News Desk – India