Materion Corp (MTRN) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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Materion Corp
Ticker: MTRN CIK: 1104657

Exhibit 99.1

MATERION CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2014 FINANCIAL RESULTS

MAYFIELD HEIGHTS, Ohio - February 19, 2015 - Materion Corporation (NYSE:MTRN) today reported fourth quarter and full-year 2014 financial results.


▪	Fourth quarter 2014 earnings were $0.58 per share, diluted. This compares to $0.18 per share, diluted, earned in the fourth quarter of the prior year.


▪	Adjusted fourth quarter earnings were $0.50 per share, diluted, up 47%, compared to the fourth quarter of 2013 adjusted earnings of $0.34 per share, diluted.


▪	Net sales for the fourth quarter were $288.4 million. Value-added sales for the fourth quarter of 2014 were $167.0 million, up 6% compared to the same quarter of the prior year.


▪	Adjusted operating profit margin, as a percent of value-added sales, expanded to 8.3%, a 170 basis point improvement, from prior-year fourth quarter levels, bringing the second half 2014 run rate to 8.6%.


▪	Full-year 2014 earnings were $2.00 per share, diluted, compared to $0.94 per share, diluted, for 2013.


▪	Adjusted full-year 2014 earnings were $1.65 per share, diluted, 50% ahead of the 2013 adjusted earnings of $1.10 per share, diluted.


▪	Earnings for the full-year 2015 are expected to be in the range of $1.80 to $2.00 per share, diluted, 10-20% above 2014 adjusted earnings of $1.65 per share, diluted.

FOURTH QUARTER 2014 RESULTS

Net sales for the fourth quarter were $288.4 million, compared to net sales of $286.1 million for the fourth quarter of 2013. Value-added sales were $167.0 million, up $9.8 million, or 6%, compared to value-added sales of $157.2 million for the fourth quarter of 2013 and up sequentially $1.4 million from the third quarter of 2014. The $167.0 million of fourth quarter value-added sales represents the third consecutive quarter of record level quarterly value-added sales. The growth in value-added sales in the fourth quarter compared to the same period of last year was due primarily to stronger demand from customers in the consumer electronics, medical and telecommunications infrastructure markets.

Operating profit for the fourth quarter of 2014 totaled $13.9 million, a 34% increase over the prior-year fourth quarter adjusted operating profit. Adjusted operating profit margin, expressed as a percent of value-added sales, expanded by 170 basis points to 8.3% from the prior-year fourth quarter levels. The margin improvement is a result of the higher sales volume and management delivering on the forecasted cost savings from the facility closures, pebbles plant improvement and product line rationalizations completed in early 2014.

The following information was filed by Materion Corp (MTRN) on Thursday, February 19, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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