Quarterly Net Sales and Operating Profit from Ongoing Operations by Segment for 2015, 2014 & 2013
|
| | | | | | | | | | | |
| (In Thousands) | First Quarter 2015 | | Second Quarter 2015 | | Third Quarter 2015 |
| Net Sales | | | | | |
| PE Films | $ | 106,357 |
| | $ | 91,959 |
| | $ | 93,943 |
|
| Flexible Packaging Films | 26,844 |
| | 23,340 |
| | 27,155 |
|
| Aluminum Extrusions | 93,645 |
| | 98,203 |
| | 94,812 |
|
| Total net sales | 226,846 |
| | 213,502 |
| | 215,910 |
|
| Add back freight | 7,325 |
| | 7,743 |
| | 7,862 |
|
| Sales as shown in the Consolidated Statements of Income | 234,171 |
| | 221,245 |
| | 223,772 |
|
| Operating Profit | | | | | |
| PE Films: | | | | | |
| Ongoing operations | 16,832 |
| | 9,272 |
| | 9,745 |
|
| Plant shutdowns, asset impairments, restructurings and other | — |
| | (7 | ) | | (2,044 | ) |
| Flexible Packaging Films: | | | | | |
| Ongoing operations | 785 |
| | (3,094 | ) | | 4,102 |
|
| Plant shutdowns, asset impairments, restructurings and other | 67 |
| | (252 | ) | | — |
|
| Goodwill impairment charge | — |
| | — |
| | (44,465 | ) |
| Aluminum Extrusions: | | | | | |
| Ongoing operations | 5,292 |
| | 8,299 |
| | 7,272 |
|
| Plant shutdowns, asset impairments, restructurings and other | (15 | ) | | (18 | ) | | (331 | ) |
| Total | 22,961 |
| | 14,200 |
| | (25,721 | ) |
| Interest income | 89 |
| | 82 |
| | 76 |
|
| Interest expense | 885 |
| | 893 |
| | 901 |
|
| Stock option-based compensation costs | 300 |
| | 198 |
| | 73 |
|
| Corporate expenses, net | 7,216 |
| | 11,694 |
| | 6,722 |
|
| Income (loss) from continuing operations before income taxes | 14,649 |
| | 1,497 |
| | (33,341 | ) |
| Income taxes from continuing operations | 4,779 |
| | 903 |
| | 3,382 |
|
| Income (loss) from continuing operations | 9,870 |
| | 594 |
| | (36,723 | ) |
| Income (loss) from discontinued operations, net of tax | — |
| | — |
| | — |
|
| Net income (loss) | $ | 9,870 |
| | $ | 594 |
| | $ | (36,723 | ) |
Quarterly Net Sales and Operating Profit from Ongoing Operations by Segment for 2015, 2014 & 2013
(continued)
|
| | | | | | | | | | | | | | | |
| (In Thousands) | First Quarter 2014 | | Second Quarter 2014 | | Third Quarter 2014 | | Fourth Quarter 2014 |
| Net Sales | | | | | | | |
| PE Films | $ | 121,079 |
| | $ | 118,658 |
| | $ | 115,155 |
| | $ | 109,448 |
|
| Flexible Packaging Films | 28,081 |
| | 27,358 |
| | 27,943 |
| | 30,965 |
|
| Aluminum Extrusions | 79,283 |
| | 84,548 |
| | 89,605 |
| | 90,910 |
|
| Total net sales | 228,443 |
| | 230,564 |
| | 232,703 |
| | 231,323 |
|
| Add back freight | 6,770 |
| | 6,401 |
| | 7,726 |
| | 7,896 |
|
| Sales as shown in the Consolidated Statements of Income | 235,213 |
| | 236,965 |
| | 240,429 |
| | 239,219 |
|
| Operating Profit | | | | | | | |
| PE Films: | | | | | | | |
| Ongoing operations | 16,651 |
| | 16,052 |
| | 14,471 |
| | 13,797 |
|
| Plant shutdowns, asset impairments, restructurings and other | (1,245 | ) | | (10,923 | ) | | (113 | ) | | 43 |
|
| Flexible Packaging Films: | | | | | | | |
| Ongoing operations | 71 |
| | (1,089 | ) | | (1,265 | ) | | (634 | ) |
| Plant shutdowns, asset impairments, restructurings and other | — |
| | — |
| | (297 | ) | | (292 | ) |
| Aluminum Extrusions: | | | | | | | |
| Ongoing operations | 4,761 |
| | 8,050 |
| | 5,752 |
| | 7,101 |
|
| Plant shutdowns, asset impairments, restructurings and other | — |
| | (174 | ) | | (126 | ) | | (676 | ) |
| Total | 20,238 |
| | 11,916 |
| | 18,422 |
| | 19,339 |
|
| Interest income | 195 |
| | 107 |
| | 117 |
| | 169 |
|
| Interest expense | 630 |
| | 531 |
| | 590 |
| | 962 |
|
| Gain (loss) on investment accounted for under fair value method | — |
| | (1,100 | ) | | 4,000 |
| | (900 | ) |
| Gain on sale of investment property | — |
| | 1,208 |
| | — |
| | — |
|
| Stock option-based compensation costs | 241 |
| | 345 |
| | 358 |
| | 328 |
|
| Corporate expenses, net | 6,475 |
| | 5,339 |
| | 5,477 |
| | 7,019 |
|
| Income from continuing operations before income taxes | 13,087 |
| | 5,916 |
| | 16,114 |
| | 10,299 |
|
| Income taxes from continuing operations | 4,608 |
| | 2,164 |
| | 5,369 |
| | (2,754 | ) |
| Income from continuing operations | 8,479 |
| | 3,752 |
| | 10,745 |
| | 13,053 |
|
| Income (loss) from discontinued operations, net of tax | — |
| | — |
| | 850 |
| | — |
|
| Net income | $ | 8,479 |
| | $ | 3,752 |
| | $ | 11,595 |
| | $ | 13,053 |
|
Quarterly Net Sales and Operating Profit from Ongoing Operations by Segment for 2015, 2014 & 2013
(continued)
|
| | | | | | | | | | | | | | | |
| (In Thousands) | First Quarter 2013 | | Second Quarter 2013 | | Third Quarter 2013 | | Fourth Quarter 2013 |
| Net Sales | | | | | | | |
| PE Films | $ | 122,909 |
| | $ | 126,718 |
| | $ | 124,348 |
| | $ | 121,411 |
|
| Flexible Packaging Films | 31,476 |
| | 31,548 |
| | 32,839 |
| | 29,990 |
|
| Aluminum Extrusions | 79,939 |
| | 77,855 |
| | 78,499 |
| | 73,189 |
|
| Total net sales | 234,324 |
| | 236,121 |
| | 235,686 |
| | 224,590 |
|
| Add back freight | 7,202 |
| | 7,409 |
| | 7,508 |
| | 6,506 |
|
| Sales as shown in the Consolidated Statements of Income | 241,526 |
| | 243,530 |
| | 243,194 |
| | 231,096 |
|
| Operating Profit | | | | | | | |
| PE Films: | | | | | | | |
| Ongoing operations | 14,764 |
| | 16,644 |
| | 16,597 |
| | 13,861 |
|
| Plant shutdowns, asset impairments, restructurings and other | (102 | ) | | (107 | ) | | (155 | ) | | (307 | ) |
| Flexible Packaging Films: | | | | | | | |
| Ongoing operations | 2,243 |
| | 2,083 |
| | 3,020 |
| | 1,754 |
|
| Plant shutdowns, asset impairments, restructurings and other | — |
| | — |
| | — |
| | — |
|
| Aluminum Extrusions: | | | | | | | |
| Ongoing operations | 4,614 |
| | 4,311 |
| | 3,426 |
| | 5,940 |
|
| Plant shutdowns, asset impairments, restructurings and other | (253 | ) | | (545 | ) | | (160 | ) | | (1,790 | ) |
| Total | 21,266 |
| | 22,386 |
| | 22,728 |
| | 19,458 |
|
| Interest income | 78 |
| | 91 |
| | 138 |
| | 287 |
|
| Interest expense | 690 |
| | 715 |
| | 727 |
| | 738 |
|
| Gain (loss) on investment accounted for under fair value method | 1,100 |
| | 2,100 |
| | (3,100 | ) | | 3,300 |
|
| Unrealized loss on investment property | — |
| | (1,018 | ) | | — |
| | — |
|
| Stock option-based compensation costs | 316 |
| | 283 |
| | 260 |
| | 296 |
|
| Corporate expenses, net | 8,157 |
| | 7,487 |
| | 8,414 |
| | 7,799 |
|
| Income from continuing operations before income taxes | 13,281 |
| | 15,074 |
| | 10,365 |
| | 14,212 |
|
| Income taxes from continuing operations | 3,764 |
| | 5,484 |
| | 2,937 |
| | 4,810 |
|
| Income from continuing operations | 9,517 |
| | 9,590 |
| | 7,428 |
| | 9,402 |
|
| Income (loss) from discontinued operations, net of tax | (5,240 | ) | | (8,300 | ) | | (450 | ) | | — |
|
| Net income | $ | 4,277 |
| | $ | 1,290 |
| | $ | 6,978 |
| | $ | 9,402 |
|
