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Last $57.43 USD
Change Today +0.63 / 1.11%
Volume 56.3K
NP On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

neenah paper inc (NP) Key Developments

Neenah Paper, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Sales Guidance for the Remainder of 2015 and Capital Spending Guidance for the Full Year 2015

Neenah Paper, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $224.1 million compared to $230.4 million a year ago. Operating income was $27.9 million compared to $25.9 million a year ago. Income from operations before income taxes was $25.1 million compared to $23.0 million a year ago. Net income was $16.7 million or $0.97 per diluted share compared to $15.0 million or $0.88 per diluted share a year ago. Adjusted operating income was $27.9 million compared to $26.6 million a year ago. Adjusted income was $16.7 million or $0.97 per diluted share compared to $15.4 million or $0.90 per diluted share a year ago. Cash provided from operations in the second quarter of 2015 was $39.4 million compared with $37.1 million in the second quarter of 2014. Increased cash generation in 2015 resulted primarily from increased earnings. Capital spending of $7 million increased from $5 million last year as the company began spending on the filtration expansion project. With benefits of lower input costs, the company continue to offset negative impacts from currency translation on the bottom line, although a weaker euro continues to impact the company's top line. Consequently, while the company reported sales down 3% from a year ago, on a constant currency basis, they were actually up 4%, including a boost from the company's filtration acquisition last year. For the six months, the company reported net sales of $452.3 million compared to $455.5 million a year ago. Operating income was $56.7 million compared to $48.9 million a year ago. Income from operations before income taxes was $50.9 million compared to $43.2 million a year ago. Net income was $33.0 million or $1.92 per diluted share compared to $28.2 million or $1.66 per diluted share a year ago. Adjusted operating income was $56.7 million compared to $49.9 million a year ago. Adjusted income was $33.0 million or $1.92 per diluted share compared to $28.8 million or $1.69 per diluted share a year ago. Net cash provided by operating activities was $44.5 million compared to $51.9 million a year ago. Capital expenditures were $12.6 million compared to $9.1 million a year ago. Full year 2015 capital spending, including FiberMark, is expected to be approximately $50 million to $55 million, which is on the upper end of the company's targeted 3% to 5% range. The remainder of 2015, incremental sales are expected to be in the range of $10 million to $15 million per month, with lower-than-average margins due to seasonality and maintenance downs.

Neenah Paper Seeks Acquisitions

Neenah Paper, Inc. (NYSE:NP) is seeking acquisitions. Neenah announced, "Our balance sheet remains strong, providing future flexibility and the ability to optimize capital deployment among high-returning organic investments, value-adding acquisitions and increasing cash returns to shareholders."

Neenah Paper, Inc. Declares Quarterly Dividend on Common Stock, Payable on September 2, 2015

Neenah Paper, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.30 per share on the company's common stock. The dividend will be payable on September 2, 2015 to stockholders of record as of close of business on August 14, 2015.

Neenah Paper, Inc. to Report Q2, 2015 Results on Aug 05, 2015

Neenah Paper, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

Neenah Paper, Inc., Q2 2015 Earnings Call, Aug 06, 2015

Neenah Paper, Inc., Q2 2015 Earnings Call, Aug 06, 2015

 

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Industry Analysis

NP

Industry Average

Valuation NP Industry Range
Price/Earnings 13.3x
Price/Sales 1.1x
Price/Book 3.1x
Price/Cash Flow 12.9x
TEV/Sales 0.7x
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