Neenah Paper Inc. Reports Operating Results (10-Q)
Neenah Paper has a market cap of $450.2 million; its shares were traded at around $25.11 with a P/E ratio of 14.9 and P/S ratio of 0.7. The dividend yield of Neenah Paper stocks is 1.7%. Neenah Paper had an annual average earning growth of 4.5% over the past 5 years.
Highlight of Business Operations:For the three months ended March 31, 2012, consolidated net sales increased approximately $25.5 million from the prior year period to $198.2 million primarily due to incremental volume from the brands acquired from Wausau.
In this section, we discuss and analyze our net sales, earnings before interest and taxes (which we refer to as operating income) and other information relevant to an understanding of our results of operations for the three months ended March 31, 2012 and 2011.
For the three months ended March 31, 2012, Fine Paper results include $2.5 million of integration costs related to the Wausau acquisition and non-cash charges for the revaluation of inventory and profit in inventory.
· SG&A expense of $19.5 million for the three months ended March 31, 2012 was $2.5 million higher than the prior year period primarily due to the higher marketing costs related to the brands acquired in the Wausau acquisition. For the three months ended March 31, 2012, SG&A expense as a percentage of net sales was approximately 9.8 percent and was unchanged from the prior year period as higher SG&A expense in the current year period was offset by a corresponding increase in sales.
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