Neenah Paper, Inc. today reported adjusted earnings from continuing operations of $0.85 per diluted common share in the
second quarter of 2012 compared with earnings of $0.49 per share in the second quarter of 2011. Without adjustments
of $0.08 per share ($1.9 million pretax) to exclude costs of integrating purchased fine paper brands, earnings on a GAAP
basis in the second quarter of 2012 were $0.77 per share. There were no adjusting items in the second quarter of 2011.
Net sales of $211.7 million in the second quarter of 2012 grew 16 percent compared with the second quarter of 2011.
Adjusted operating income of $23.9 million increased 52 percent from $15.7 million in the prior year. Adjusted income of
$13.9 million increased 78 percent compared to $7.8 million in the prior year. Adjusted earnings are reconciled to GAAP
figures later in this release.
“Our businesses set an alltime quarterly record for sales and profits, with Technical Products and Fine Paper each delivering
double-digit earnings growth. Our teams are executing well against key objectives of growing high value, performance-oriented Technical Products offerings and delivering the value promised from our expanded Fine Paper business,”
said John O’Donnell, Chief Executive Officer.
“In addition, both businesses are realizing cost benefits from more efficient manufacturing operations; and this, along with
our strong market positions, will serve us well in what may be weaker global economic conditions in the second half of the
year.”
Neenah Paper is a leader in premium image and performancebased products, including filtration, specialized substrates
used for tapes, labels and other products, and high-end printing papers.