SchweitzerMauduit International Inc. (SWM, Financial) filed Quarterly Report for the period ended 2011-03-31.
Schweitzermauduit International Inc. has a market cap of $876.8 million; its shares were traded at around $49.99 with a P/E ratio of 11.5 and P/S ratio of 1.2. The dividend yield of Schweitzermauduit International Inc. stocks is 1.2%. Schweitzermauduit International Inc. had an annual average earning growth of 1.5% over the past 10 years.
Gross profit was $47.2 million in the three months ended March 31, 2011, a decrease of $6.3 million from the prior-year quarter. The gross profit margin of 26.1% decreased from 27.7% in the prior-year quarter. Restructuring and impairment expenses were $1.0 million and $3.6 million for the three month periods ended March 31, 2011 and 2010, respectively. Operating profit was $26.4 million in the three month period ended March 31, 2011 versus $31.0 million in the prior-year quarter. The lower gross profit was primarily due to $6.2 million in higher inflationary costs primarily from $2.7 million in higher wood pulp costs and $2.2 in higher energy costs, $2.0 million from unfavorable foreign currency translation impacts and $1.3 million in European LIP start-up costs. Partially offsetting these unfavorable impacts were $4.0 million in manufacturing cost reductions primarily from the benefits of cost savings programs and lean manufacturing initiatives and $2.6 million in lower restructuring expense.
Net sales were $180.7 million in the three month period ended March 31, 2011 compared with $192.8 million in the prior-year quarter. The decrease in net sales consisted of the following ($ in millions):
Paper segment net sales of $125.1 million in the three month period ended March 31, 2011 decreased by $6.0 million, or 4.6%, versus $131.1 million in the prior-year quarter. The decrease in net sales was primarily the result of $5.4 million impact of lower prices primarily reflecting an unfavorable mix of products sold and $1.2 million unfavorable foreign exchange impacts mostly due to changes in the value of the euro compared to the U.S. dollar in the first quarter of 2011 versus the prior-year quarter.
Reconstituted Tobacco segment net sales of $55.6 million in the three month period ended March 31, 2011 decreased by $6.1 million, or 9.9%, compared with $61.7 million in the prior-year quarter. The decrease in net sales of the Reconstituted Tobacco segment resulted from $5.1 million in lower sales volumes and $1.5 million in unfavorable foreign currency impact of changes in the value of the euro versus the U.S. dollar. These negatives were only partially offset by a $0.5 million impact of a favorable mix of products sold.
Inflationary cost increases, primarily related to higher per ton wood pulp prices and energy, had an unfavorable impact on operating expenses of $6.2 million during the three month period ended March 31, 2010 compared with the prior-year quarter. The average per ton list price of northern bleached softwood kraft pulp in the United States was $970 per metric ton during the three month period ended March 31, 2011 compared with $880 per metric ton during the prior-year quarter. Other unfavorable impacts included $2.0 million from unfavorable foreign currency exchange impacts primarily from a stronger Brazilian real compared to the U.S. dollar in the first quarter of 2011 versus the prior-year quarter and a $1.9 million impact of an un favorable mix of products sold.
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Schweitzermauduit International Inc. has a market cap of $876.8 million; its shares were traded at around $49.99 with a P/E ratio of 11.5 and P/S ratio of 1.2. The dividend yield of Schweitzermauduit International Inc. stocks is 1.2%. Schweitzermauduit International Inc. had an annual average earning growth of 1.5% over the past 10 years.
Highlight of Business Operations:
Net sales were $180.7 million in the three months ended March 31, 2011, a decrease from $192.8 in the prior-year quarter. Net sales decreased $12.1 million due to changes in sales volumes of certain products, an unfavorable mix of products sold and foreign currency exchange rate impacts.Gross profit was $47.2 million in the three months ended March 31, 2011, a decrease of $6.3 million from the prior-year quarter. The gross profit margin of 26.1% decreased from 27.7% in the prior-year quarter. Restructuring and impairment expenses were $1.0 million and $3.6 million for the three month periods ended March 31, 2011 and 2010, respectively. Operating profit was $26.4 million in the three month period ended March 31, 2011 versus $31.0 million in the prior-year quarter. The lower gross profit was primarily due to $6.2 million in higher inflationary costs primarily from $2.7 million in higher wood pulp costs and $2.2 in higher energy costs, $2.0 million from unfavorable foreign currency translation impacts and $1.3 million in European LIP start-up costs. Partially offsetting these unfavorable impacts were $4.0 million in manufacturing cost reductions primarily from the benefits of cost savings programs and lean manufacturing initiatives and $2.6 million in lower restructuring expense.
Net sales were $180.7 million in the three month period ended March 31, 2011 compared with $192.8 million in the prior-year quarter. The decrease in net sales consisted of the following ($ in millions):
Paper segment net sales of $125.1 million in the three month period ended March 31, 2011 decreased by $6.0 million, or 4.6%, versus $131.1 million in the prior-year quarter. The decrease in net sales was primarily the result of $5.4 million impact of lower prices primarily reflecting an unfavorable mix of products sold and $1.2 million unfavorable foreign exchange impacts mostly due to changes in the value of the euro compared to the U.S. dollar in the first quarter of 2011 versus the prior-year quarter.
Reconstituted Tobacco segment net sales of $55.6 million in the three month period ended March 31, 2011 decreased by $6.1 million, or 9.9%, compared with $61.7 million in the prior-year quarter. The decrease in net sales of the Reconstituted Tobacco segment resulted from $5.1 million in lower sales volumes and $1.5 million in unfavorable foreign currency impact of changes in the value of the euro versus the U.S. dollar. These negatives were only partially offset by a $0.5 million impact of a favorable mix of products sold.
Inflationary cost increases, primarily related to higher per ton wood pulp prices and energy, had an unfavorable impact on operating expenses of $6.2 million during the three month period ended March 31, 2010 compared with the prior-year quarter. The average per ton list price of northern bleached softwood kraft pulp in the United States was $970 per metric ton during the three month period ended March 31, 2011 compared with $880 per metric ton during the prior-year quarter. Other unfavorable impacts included $2.0 million from unfavorable foreign currency exchange impacts primarily from a stronger Brazilian real compared to the U.S. dollar in the first quarter of 2011 versus the prior-year quarter and a $1.9 million impact of an un favorable mix of products sold.
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