Materion Corp (MTRN) 10-K Annual Report Thu Feb 15 2018

MAYFIELD HEIGHTS, Ohio - February 15, 2018 - Materion Corporation (NYSE:MTRN) today reported fourth quarter and full-year 2017 financial results and provided 2018 earnings guidance.


▪	Net sales for the fourth quarter of 2017 were $308.7 million, compared to $234.3 million for the fourth quarter of 2016.


▪	Fourth quarter 2017 value-added sales grew 25% to a record $181.2 million, from prior-year value-added sales of $145.1 million.


▪	Operating profit for the fourth quarter 2017 was $13.9 million compared to $3.6 million in the prior year. Excluding non-recurring items, adjusted operating profit improved 89% to $13.6 million in the fourth quarter of 2017 from $7.2 million in the prior year.


▪	Fourth quarter 2017 net loss of ($0.41) per share, diluted, due primarily to the impact of U.S. tax reform, compared to earnings of $0.33 per share in the prior year.


▪	Fourth quarter 2017 adjusted earnings were up 82% at $0.51 per share, diluted, from $0.28 per share in the fourth quarter of 2016.


▪	The Company is providing full-year 2018 earnings guidance of $1.95 to $2.10 per share, diluted.

FOURTH QUARTER 2017 RESULTS

Net sales for fourth quarter 2017 were $308.7 million, compared to $234.3 million for the prior year. Value-added sales grew 25% to a record $181.2 million in the quarter, compared to $145.1 million for the prior year. Growth in value-added sales was driven by a 17% increase in the base business, plus the acquisition of Heraeus’ high-performance target materials business (HTB) which contributed $11.6 million. Base business growth was driven by new product sales and improved end market demand. New product sales reached a record $31.0 million in the quarter, up 20% compared to the prior year.

Operating profit for fourth quarter 2017 totaled $13.9 million compared to $3.6 million in the prior year. Excluding non-recurring items, fourth quarter adjusted operating profit improved 89% to $13.6 million from $7.2 million in 2016.

Fourth quarter 2017 net loss was $8.2 million, or ($0.41) per share, diluted, and was driven by $21.6 million of income tax expense primarily related to U.S. tax reform, and compares to net income of $6.8 million in the prior year. Adjusted earnings for the fourth quarter of 2017, which exclude non-recurring charges related primarily to new

The following information was filed by Materion Corp (MTRN) on Thursday, February 15, 2018 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

Material Contracts, Statements, Certifications & more

Materion Corp provided additional information to their SEC Filing as exhibits

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: 0001104657-18-000007
Submitted to the SEC: Thu Feb 15 2018 1:16:18 PM EST
Accepted by the SEC: Thu Feb 15 2018
Period: Sunday, December 31, 2017
Industry: Metal Forgings And Stampings