Glatfelter on Wednesday announced third-quarter gains in adjusted earnings and net income.
The York-based company reported third-quarter adjusted earnings of $19.4 million, or $0.44 per diluted share, compared to $12.8 million, or $0.28 per diluted share, during the same quarter last year.
Glatfelter's third-quarter net income totaled $20.1 million, or $0.46 per share, compared to $13 million, or $0.28 per share, during the third quarter of 2011.
Consolidated net sales, however, decreased 2.9 percent to $404.4 million due to "unfavorable foreign currency translation," according to a company statement. Net sales were slightly higher on a constant currency basis.
"Our third quarter results reflect solid performance from our specialty papers business which delivered top-line growth...and it significantly increased operating income," said CEO Dante C. Parrini.
Glatfelter increased adjusted earnings per share by 57 percent and business unit operating income by 16 percent, "reflecting the strength of our diversified business model and our North American market positions," he said.