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Neenah Paper Inc. (NYSE: NP), Alphareta, GA, reported sales for the third quarter of $214.1 million, an increase of 4 percent compared to the same period a year ago. Profit increased 25.3 percent to $11.4 million.
"Both of our business segments performed well in the quarter, with each delivering solid top line growth and an improved bottom line. Technical products expanded globally behind strong filtration and specialty tape growth, while fine paper continued to generate attractive returns through a more efficient operating platform and a higher value mix of products,” John O’Donnell, CEO, said.
Technical products sales were $104.4 million in the third quarter, an increase of 6 percent compared to the same period a year ago. Fine paper sales increased 4 percent to $102.6 million.
For the first six months, sales for Neenah Paper were $639.6 million, an increase of 4 percent compared to the same period a year ago. Profit increased 26.7 percent to $38.9 million.