Materion Corp (MTRN) 10-K Annual Report February 2016


▪	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.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1104657/000110465716000152/mtrn_2015123110k.htm

View differences made from one year to another to evaluate Materion Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Materion Corp.

Continue

Assess how Materion Corp's management team is paid from their Annual Proxy

Materion Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Materion Corp provided additional information to their SEC Filing as exhibits

Exhibit 10: Material Contract

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 24: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Exhibit 95: Exhibit 95

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