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Materion Corp (MTRN) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Materion Corp

CIK: 1104657 Ticker: MTRN



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NEWS RELEASE


MATERION CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2017 FINANCIAL RESULTS AND PROVIDES 2018 EARNINGS GUIDANCE

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

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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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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)
Acquisition (details 1)
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Acquisitions Textual (details)
Contingencies And Commitments
Contingencies And Commitments (details 2)
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)
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)
Income Taxes Income Taxes Textuals (details 2)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (details 1)
Intangible Assets And Goodwill (details Textual)
Intangible Assets And Goodwill (tables)
Intangible Assets And Goodwill Goodwill Table (details)
Intangible Assets And Goodwill Intangible Assets And Goodwill (details 2) (details)
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 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)
Property, Plant, And Equipment Property, Plant, And Equipment Textuals (details)
Quarterly Data (unaudited)
Quarterly Data (unaudited) (details Textual)
Quarterly Data (unaudited) (details)
Quarterly Data (unaudited) (tables)
Restructuring
Restructuring (details)
Restructuring (tables)
Restructuring Restructuring Textual (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 4)
Stock-based Compensation (details 5)
Stock-based Compensation (details Textual)
Stock-based Compensation (tables)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
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

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