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Materion Corp (MTRN) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Materion Corp

CIK: 1104657 Ticker: MTRN


Exhibit 99.1

MATERION CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2015 FINANCIAL RESULTS


MAYFIELD HEIGHTS, Ohio - February 18, 2016 - Materion Corporation (NYSE:MTRN) today reported fourth quarter and full-year 2015 financial results.

Fourth quarter 2015 GAAP earnings were $0.33 per share, diluted. Adjusted fourth quarter earnings were $0.36 per share, diluted, in line with Company expectations.

Full-year 2015 earnings were $1.58 per share, diluted. Adjusted earnings for 2015 were $1.60 per share, diluted, as compared to adjusted earnings per share of $1.67 in 2014.

Net sales for the fourth quarter of 2015 were $214.0 million. Value-added sales were $143.4 million, 14% below fourth quarter 2014 value-added sales.

Net sales for the full-year 2015 were $1.0 billion. Value-added sales were $617.2 million, 3% below 2014 value-added sales of $637.1 million.

Value-added sales in 2015 from new products totaled $71.9 million, a 13% increase over the prior-year new product sales.

FOURTH QUARTER 2015 RESULTS

Net sales for the fourth quarter of 2015 were $214.0 million, compared to net sales of $288.4 million for the fourth quarter of 2014. Value-added sales were $143.4 million, 14% below value-added sales of $167.0 million for the fourth quarter of 2014.

The year-over-year decrease in value-added sales in the fourth quarter of 2015 is due primarily to weaker demand from customers tied to oil and gas exploration and weaker demand from Asian markets. Changes in foreign exchange rates negatively impacted value-added sales by 1% compared to fourth quarter 2014. Partially offsetting these headwinds was sales growth in the defense market both year over year and sequentially.

Operating profit in the fourth quarter of 2015 was $8.1 million. Adjusted operating profit, which excludes non-recurring legacy environmental and other expenses, totaled $8.9 million in the fourth quarter of 2015, 38% below the prior-year fourth quarter adjusted operating profit of $14.4 million. The decreased profits resulted primarily from lower sales levels and unfavorable exchange rate impacts, which were only partially offset by foreign currency hedge gains and reduced performance-based compensation expense.

Net income for the fourth quarter of 2015 was $6.7 million, or $0.33 per share, diluted. This compares to net income of $12.3 million, or $0.60 per share, diluted, for the fourth quarter of the prior year. Excluding special items in both periods, adjusted earnings for the fourth quarter of 2015 were in line with Company expectations of $0.36 per share compared to $0.51 per share for the fourth quarter of 2014.




The following information was filed by Materion Corp (MTRN) on Thursday, February 18, 2016 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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Financial Statements, Disclosures and Schedules

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)
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
Facility Consolidation (details)
Facility Consolidation (tables)
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 Textual)
Income Taxes (details)
Income Taxes (tables)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (details 1)
Intangible Assets And Goodwill (details Textual)
Intangible Assets And Goodwill (tables)
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)
Quarterly Data (unaudited) (tables)
Revised Financial Statements
Revised Financial Statements (consolidated Statement Of Income) (details)
Revised Financial Statements (tables)
Revised Financial Statements Revised Financial Statement (consolidated Balance Sheet) (details)
Revised Financial Statements Revised Financial Statements (details)
Segment Reporting And Geographic Information
Segment Reporting And Geographic Information (details 1)
Segment Reporting And Geographic Information (details 2)
Segment Reporting And Geographic Information (details Textual)
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)
Stock-based Compensation
Stock-based Compensation (details 1)
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details Textual)
Stock-based Compensation (tables)
Stock-based Compensation Stock-based Compensation (details 4)
Stock-based Compensation Stock-based Compensation (details 5)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
Ticker: MTRN
CIK: 1104657
Form Type: 10-K Annual Report
Accession Number: 0001104657-16-000152
Submitted to the SEC: Thu Feb 25 2016 2:46:07 PM EST
Accepted by the SEC: Thu Feb 25 2016
Period: Thursday, December 31, 2015
Industry: Metal Forgings And Stampings

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