Lydall Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2017
Company Release - 2/21/2018 4:30 PM ET
MANCHESTER, Conn., Feb. 21, 2018 (GLOBE NEWSWIRE) -- LYDALL, INC. (NYSE:LDL) today announced financial results for the fourth quarter and year ended December 31, 2017.
HIGHLIGHTS - Q4 2017 vs. Q4 2016
GAAP Financials
Net sales of $178.0 million, up $33.8 million, or 23.5%, from $144.2 million
- Technical Nonwovens Gutsche acquisition contributed $14.2 million, or 9.9%
Gross margin of 22.1%, down 10 basis points
Operating margin of 8.7%, up 360 basis points
- Q4 2016 included the German Cartel settlement expense of $3.5 million, or 240 basis points
Earnings per share ("EPS") of $0.80 compared to $0.26
- 2017 Tax Cuts and Jobs Act ("Tax Reform Act") resulted in a provisional net tax benefit of $3.7 million, or $0.22 EPS
Non-GAAP Financial Measures*
Organic sales growth of 9.3%; all four segments reporting growth
Adjusted gross margin of 22.2%, down 20 basis points
Adjusted operating margin of 9.3%, up 90 basis points
Adjusted EPS of $0.67, up 28.8%, from adjusted $0.52 per share
Adjusted EBITDA margin of 12.9%, up 40 basis points
Lydall Inc. | Press Release
