Glatfelter recently reported strong top-line growth and adjusted earnings of $0.02 per diluted share for the quarter ended June 30, 2010 compared to an adjusted loss of $0.22 per share in the second quarter of 2009.
"Our solid 2010 second quarter results were driven by revenue growth in our Composite Fibers and Specialty Papers business units," said George H. Glatfelter II, Chairman and Chief Executive Officer. "Shipping volume increased by 14 percent in Composite Fibers generating a 149 percent increase in operating income, while Specialty Papers shipping volume increased 10 percent which increased operating income by $9 million. We also benefited from solid operating performance, improved manufacturing efficiencies and cost control driven by our on-going continuous improvement initiatives."
Mr. Glatfelter continued, "Integration of the recently completed acquisition of Concert Industries is progressing on plan. We have strengthened our management team, customer relationships are developing well and the business is on track to generate targeted levels of accretion."
