Materion Corporation Reports First Quarter 2015 Financial Results
Source: Business Wire
Confirms Outlook for 2015
Materion Corporation (NYSE:MTRN) today reported first quarter 2015 financial results.
First quarter 2015 GAAP earnings were $0.47 per share, diluted. This compares to $0.35 per share, diluted, earned in the first quarter of 2014.
Adjusted first quarter earnings were $0.41 per share, diluted, up 41%, compared to $0.29 per share, diluted, in the first quarter of 2014.
Net sales for the first quarter of 2015 were $290.0 million. Value-added sales were $162.6 million, up 12% compared to the prior year period.
Adjusted operating profit margin, as a percent of value-added sales, expanded year over year to 7.4%, a 110 basis point improvement.
All three business groups delivered top line growth and expanded profit margins in the first quarter of 2015 compared to the first quarter of 2014.
The Company confirms its previously announced 2015 adjusted earnings forecast range of $1.80 to $2.00 per share, diluted.
FIRST QUARTER 2015 RESULTS
Net sales for the first quarter were $290.0 million, compared to net sales of $258.9 million for the first quarter of 2014. Value-added sales grew 12% to $162.6 million compared to value-added sales of $144.9 million for the first quarter of 2014. The growth in value-added sales in the first quarter of 2015 compared to the same period of last year was due primarily to stronger demand from customers in the industrial components, medical, consumer electronics, automotive electronics and defense markets.
