Materion Q3 Profit Declines, But Sales Rise

(RTTNews) - Materion Corporation (MTRN), a materials solutions company, Wednesday reported net income of $22.29 million, or $1.07 per share for the third quarter, lower than $26.56 million, or $1.27 per share in the same quarter a year ago, primarily due to higher cost of sales.

Excluding one-time items, earnings were $29.6 million or $1.41 per share, in line with the Consensus estimates. Analysts' estimates typically exclude special items.

Operating profit was $31.3 million, down from $36.5 million last year.

Net sales for the quarter, however, increased to $436.72 million from $403.07 million in the prior-year period. Analysts were expecting revenue of $416.4 million.

For the full year, Materion expects adjusted EPS in the range of $5.20 - $5.40. The Street is looking for $5.27.