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

Materion Corp

CIK: 1104657 Ticker: MTRN


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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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parentheticals)
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (details)
Accumulated Other Comprehensive Income (tables)
Acquisitions
Acquisitions (details Textual)
Common Stock And Stock-based Compensation
Common Stock And Stock-based Compensation (details 1)
Common Stock And Stock-based Compensation (details 3)
Common Stock And Stock-based Compensation (details 4)
Common Stock And Stock-based Compensation (details 5)
Common Stock And Stock-based Compensation (details 6)
Common Stock And Stock-based Compensation (details 7)
Common Stock And Stock-based Compensation (details Textual)
Common Stock And Stock-based Compensation (details)
Common Stock And Stock-based Compensation (tables)
Contingencies And Commitments
Contingencies And Commitments (details Textual)
Contingencies And Commitments (details)
Contingencies And Commitments (tables)
Debt
Debt (details 1)
Debt (details 2)
Debt (details Textual)
Debt (details)
Debt (tables)
Earnings Per Share
Earnings Per Share (details 1)
Earnings Per Share (details)
Earnings Per Share (tables)
Facility Consolidation (details)
Facility Consolidation (tables)
Facility Consolidation Facility Consolidation
Fair Value Information And Derivative Financial Instruments
Fair Value Information And Derivative Financial Instruments (details 1)
Fair Value Information And Derivative Financial Instruments (details Textual)
Fair Value Information And Derivative Financial Instruments (details)
Fair Value Information And Derivative Financial Instruments (tables)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Intangible Assets
Intangible Assets (details 1)
Intangible Assets (details 2)
Intangible Assets (details Textual)
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Interest
Interest (details Textual)
Interest (details)
Interest (tables)
Inventories
Inventories (details Textual)
Inventories (details)
Inventories (tables)
Leasing Arrangements
Leasing Arrangements (details)
Leasing Arrangements (tables)
Other-net
Other-net (details)
Other-net (tables)
Pensions And Other Post-employment Benefits
Pensions And Other Post-employment Benefits (details 1)
Pensions And Other Post-employment Benefits (details 2)
Pensions And Other Post-employment Benefits (details 3)
Pensions And Other Post-employment Benefits (details 4)
Pensions And Other Post-employment Benefits (details 5)
Pensions And Other Post-employment Benefits (details 6)
Pensions And Other Post-employment Benefits (details 7)
Pensions And Other Post-employment Benefits (details Textual)
Pensions And Other Post-employment Benefits (details)
Pensions And Other Post-employment Benefits (tables)
Property, Plant, And Equipment
Property, Plant, And Equipment (details)
Property, Plant, And Equipment (tables)
Quarterly Data (unaudited)
Quarterly Data (unaudited) (details Textual)
Quarterly Data (unaudited) (details)
Quarterly Data (unaudited) (tables)
Segment Reporting And Geographic Information
Segment Reporting And Geographic Information (details 1)
Segment Reporting And Geographic Information (details Textual)
Segment Reporting And Geographic Information (details)
Segment Reporting And Geographic Information (tables)
Significant Accounting Policies
Significant Accounting Policies (details Textual)
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
Ticker: MTRN
CIK: 1104657
Form Type: 10-K Annual Report
Accession Number: 0001104657-15-000021
Submitted to the SEC: Fri Feb 27 2015 2:36:37 PM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Metal Forgings And Stampings

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