Neenah Paper Inc. (NYSE: NP), Alpharetta, GA, reported sales for the second quarter of $212.3 million, an increase of 0.3 percent compared to the same period a year ago, as increased fine paper sales offset lower sales of “other” products. Profit increased 0.8 percent to $12.8 million.
Technical products sales were $105.8 million in the second quarter, an increase of 1 percent compared to the same period a year ago. While sales increased for filtration, tape and labels, declines in industrial and other products offset these gains and reflected weaker economic conditions outside the U.S. Operating income decreased 3.3 percent to $11.9 million.
Fine paper sales of $100 million in the second quarter were up 3.8 percent compared to the prior-year period. Higher sales resulted from acquired brands, growth in luxury packaging and a higher value mix of products sold. Operating income increased 16.5 percent to $15.5 million.
Sales of other products were $6.5 million for the quarter, a decrease of 23.5 percent compared to the same period a year ago. The segment reported a loss of $600,000, compared to a year-ago profit of $600,000.
For the first six months, sales for Neenah were $425.5 million, an increase of 4 percent compared to the same period a year ago. Profit increased 27.3 percent to $27.5 million.
