Neenah Paper Profit Tops Estimate As Sales Climb 9%

(RTTNews) - Neenah Paper Inc (NP), a maker of technical products and fine papers, Wednesday reported second-quarter net earnings of $15 million or $0.88 per share. This compares with a profit of $12.8 million or $0.77 per share last year.

Excluding items, adjusted earnings for the quarter were $0.90 per share.

Revenue for the quarter was up 9% at $230 million, compared with $212 million in the prior year.

Analysts polled by Thomson Reuters projected earnings of $0.84 per share on revenue of $224 million for the quarter. Analysts' estimates typically exclude special items.

Growth was seen across both its technical products and fine paper segments, the Alpharetta, Georgia-based company said.

Volume growth for the quarter was up 7%.

CEO John O'Donnell said: "Our balance sheet remains strong and we'll continue to optimize capital deployment among high-returning organic investments, value-adding acquisitions and direct cash returns to shareholders through an attractive dividend."

In July, Neenah acquired Acquired Crane Technical Materials for $72 million.