Interviews
Lydall announces Q4 2007 sales results
25 Feb '08
3 min read
Selling, product development, and administrative expenses were $15.5 million, or 18.0 percent of net sales, for the fourth quarter ended December 31, 2007 compared with $14.9 million, or 18.5 percent of net sales, for the same quarter of 2006. The increase of $0.6 million was primarily due to increases in salary and severance expenses.
Net cash provided by operating activities was $11.9 million in the fourth quarter of 2007 compared with $14.7 million in the fourth quarter of 2006.
Dale Barnhart, President and Chief Executive Officer, commented, "We closed the year with a solid fourth quarter as sales and operating income increased significantly when compared to last year's fourth quarter. For the year, excluding the impact of foreign currency translation, sales increased by 1 percent and operating income by 4 percent, as compared to 2006.”
“Contributing factors were: the strong performance of our air and liquid filtration businesses; continuing improvements by the vital fluids operation; a stable automotive business, despite current market conditions; and the ongoing benefits of our Lean Six Sigma efforts.
"I can't stress enough the importance of the Lean Six Sigma program to Lydall, especially in light of the current economic climate. Since we first began implementing Lean Six Sigma at the beginning of 2005, gross margins as a percent of net sales have increased by 290 basis points and we look forward to continued progress as Lean becomes inherent in the culture of Lydall."
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Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut. The Company, with operations in the U.S., France, and Germany and sales offices in the U.S., Europe, and Asia, focuses on specialty engineered products for the thermal/acoustical and filtration/separation markets.
Net cash provided by operating activities was $11.9 million in the fourth quarter of 2007 compared with $14.7 million in the fourth quarter of 2006.
Dale Barnhart, President and Chief Executive Officer, commented, "We closed the year with a solid fourth quarter as sales and operating income increased significantly when compared to last year's fourth quarter. For the year, excluding the impact of foreign currency translation, sales increased by 1 percent and operating income by 4 percent, as compared to 2006.”
“Contributing factors were: the strong performance of our air and liquid filtration businesses; continuing improvements by the vital fluids operation; a stable automotive business, despite current market conditions; and the ongoing benefits of our Lean Six Sigma efforts.
"I can't stress enough the importance of the Lean Six Sigma program to Lydall, especially in light of the current economic climate. Since we first began implementing Lean Six Sigma at the beginning of 2005, gross margins as a percent of net sales have increased by 290 basis points and we look forward to continued progress as Lean becomes inherent in the culture of Lydall."
Click here to view more details:
Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut. The Company, with operations in the U.S., France, and Germany and sales offices in the U.S., Europe, and Asia, focuses on specialty engineered products for the thermal/acoustical and filtration/separation markets.
LYDALL INC
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