Neenah Paper Reports 2016 Fourth Quarter and Full Year Results
(Alpharetta, Ga., USA, Feb. 15, 2017) Neenah Paper, Inc. (NYSE: NP) today reported 2016 fourth quarter and full-year results.
Fourth Quarter Highlights
• Revenues of $220.5 million decreased 4 percent compared with the prior year.
• Operating income of $21.9 million increased 5 percent compared with the prior year.
• Record net sales, operating income, earnings per share and cash provided by operations.
• Net sales of $941.5 million increased 6 percent compared with $887.7 million in the prior year.
• Operating income of $114.1 million increased 13 percent compared with $101.4 million in the prior year.
“Adjusted earnings” is a non-GAAP measure and is used to improve comparability of year-on-year results. Adjusted figures are reconciled to GAAP later in this release.
“In 2016 our teams again delivered impressive financial results and returns for our shareholders. With record operating cash flows and balanced capital deployment, we invested capital efficiently to add filtration capacity in the U.S., completed the integration of FiberMark with its added capabilities, increased direct cash returns to shareholders by over 30 percent, and used remaining funds to pay down debt,” said John O’Donnell, Chief Executive Officer.
“Our businesses enter 2017 with strong market positions and catalysts for continued growth. Coupled with our substantial cash flow generation and strong balance sheet, we’re well-positioned to create further value for our shareholders as Neenah continues to develop into a faster growing, diversified specialty materials company.”
To view this release online and get more information about Neenah Paper IR Room visit: http://ir.neenah.com/2017-02-15-Neenah-Paper-Reports-2016-Fourth-Quarter-and-Full-Year-Results (Source: press release)
