Glatfelter 4Q 2017 results: net loss of $10.1 million narrows from $16.2 million year-earlier loss
YORK, PA, February 6, 2018-
Glatfelter today reported a net loss of $10.1 million, or $0.23 per share for the fourth quarter of 2017 compared with a net loss of $16.2 million, or $0.37 per share in the fourth quarter of 2016. Adjusted earnings for the fourth quarter of 2017 was $15.0 million, or $0.34 per diluted share compared with $17.6 million, or $0.40 per diluted share, for the same period a year ago.
On an adjusted basis, earnings before interest, taxes, depreciation and amortization and excluding pension expense (“Adjusted EBITDA”) for the three months ended December 31, 2017 and 2016, totaled $41.5 million and $41.7 million, respectively. Adjusted earnings and Adjusted EBITDA are non-GAAP financials measures for which reconciliations to the nearest GAAP-based measure are provided within this release. Consolidated net sales totaled $399.9 million and $390.9 million for the three months ended December 31, 2017 and 2016, respectively. Composite Fibers’ and Advanced Airlaid Materials’ net sales increased, on a constant currency basis, by 7.7% and 3.1%, respectively. Specialty Papers’ net sales declined 6.9% in the quarter-over-quarter comparison.
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