materionlogoa07.jpg
NEWS RELEASE

MATERION CORPORATION REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS, RAISES FULL-YEAR 2018 GUIDANCE, AND DECLARES FOURTH QUARTER DIVIDEND

MAYFIELD HEIGHTS, Ohio - October 25, 2018 - Materion Corporation (NYSE:MTRN) today reported third quarter 2018 financial results.

Net sales for the third quarter 2018 were $297.2 million, compared to $294.3 million for the third quarter 2017.

Third quarter 2018 value-added sales were $181.9 million, up 6% from $171.4 million in the prior year third quarter.

Third quarter 2018 net income was $0.97 per share, diluted, compared to $0.46 per share in the prior year third quarter.

Record adjusted earnings of $0.68 per share, diluted, were up 36% for third quarter 2018 compared to $0.50 per share in the third quarter 2017.

The Company is raising its full-year adjusted earnings guidance range to $2.20 to $2.30 per share, diluted, representing an approximate 30% year-over-year increase.


1



THIRD QUARTER 2018 RESULTS

Net sales for third quarter of 2018 were $297.2 million, compared to $294.3 million for the prior year. Value-added sales of $181.9 million were up 6% versus prior year sales of $171.4 million. Continued improvements in commercial excellence and strong end-market demand, particularly in the energy and defense markets, led to the year-over-year improvement. This is the fourth consecutive quarter with value-added sales of more than $180 million.

Operating profit for the third quarter totaled $18.7 million, or 10% of value-added sales, compared to $12.0 million in the prior year. On an adjusted basis, operating profit improved approximately 40% versus prior year due to significant gains in commercial and operational improvements and sales growth.

Third quarter 2018 net income was $20.0 million, or $0.97 per share diluted, compared to $9.3 million in the prior year. Excluding discrete income tax benefits, third quarter 2018 adjusted earnings of $0.68 per share improved 36% versus adjusted earnings of $0.50 in the third quarter of 2017.

“This quarter’s performance represents record level operating profit, operating profit percentage of value-added sales and adjusted earnings. We have now delivered seven consecutive quarters of year-over-year value-added sales and earnings growth. We are delivering on our commitment to consistently deliver profitable growth. Our multi-pillar strategy is working,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “We remain optimistic on our sales growth and performance improvements across the Company. As a result, for the second time this year, we are raising our full-year adjusted earnings guidance to $2.20 to $2.30 per share.”

For the first three quarters of 2018, net sales were $909.8 million, compared to net sales of $830.8 million for the same period last year. Value-added sales for this period were $553.1 million, an increase of 11%, from $496.5 million for the same period last year.

Year-to-date net income was $41.7 million, or $2.02 per share, diluted, as compared to $19.7 million, or $0.97 per share, in the comparable prior-year period. Excluding special items in both periods, earnings improved 45% from the prior year to $35.7 million, or $1.73 per share.
    

2



BUSINESS SEGMENT THIRD QUARTER 2018 RESULTS

Performance Alloys and Composites

Net sales for Performance Alloys and Composites were $124.1 million for third quarter of 2018 compared to $109.4 million in the same period last year. Value-added sales were $104.9 million versus $90.6 million in the prior year, a 16% year over year increase. Improved commercial execution and strong end-market demand, particularly in defense and energy markets, contributed to the increase.

Operating profit for the third quarter of 2018 was a record $16.7 million, or 16% of value-added sales, compared to operating profit of $6.8 million in the third quarter of 2017. Operating profit more than doubled compared to the prior-year adjusted operating profit of $7.0 million with contributions from performance improvements, favorable product mix, and sales growth.

Advanced Materials

Advanced Materials’ net sales for the third quarter of 2018 were $144.1 million, versus $157.8 million in the prior year. Value-added sales were $55.3 million, versus $60.4 million in the prior-year quarter. Inventory destocking in the consumer electronics market along with measured ramp up of the new German factory and related customer requalifications were key contributors to the decline.

Operating profit was $6.9 million for the current quarter, or 12% of value-added sales, compared to $9.8 million in the prior year. Lower sales volumes and ramp up expenses associated with the new German factory led to the decline. Sequentially, operating profit improved 23% as second quarter 2018 factory relocation costs did not repeat.

Precision Coatings

Precision Coatings’ net sales for the third quarter of 2018 were $29.0 million versus prior-year sales of $27.1 million. Value-added sales of $23.0 million were up 5% compared to $21.9 million for the same period of 2017.


3



Operating profit was $3.5 million, or 15% of value added sales, up 75% versus adjusted operating profit of $2.0 million in the prior year. Increased profit levels were due primarily to improved performance, favorable product mix, and sales volume growth.

OUTLOOK

The Company delivered record third quarter 2018 financial results led by performance improvements and favorable end-market demand, particularly in defense and energy. We expect the positive momentum to continue and are raising full-year 2018 adjusted earnings guidance from $2.00 to $2.15 per share, diluted, to $2.20 to $2.30 per share. The midpoint of the revised guidance represents an earnings growth of over 30% from the prior year.


ADJUSTED EARNINGS GUIDANCE

It is not possible for the Company to identify the amount or significance of future adjustments associated with potential insurance and litigation claims, legacy environmental costs, acquisition and integration costs, certain income tax items, or other special items that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance for the full year to a comparable GAAP range. However, items excluded from the Company's adjusted earnings guidance include the historical adjustments noted in Attachments 4 and 5 to this press release.

DIVIDEND ANNOUNCEMENT

Today the Company announced the declaration of its fourth quarter dividend of $0.105 per share payable on December 3, 2018 to shareholders of record on November 8, 2018.

CONFERENCE CALL

Materion Corporation will host an investor conference call with analysts at 9:00 a.m. Eastern Time, October 25, 2018. The conference call will be available via webcast through the Company’s website at www.materion.com or through www.InvestorCalendar.com. By phone, please dial (877) 407-0778. Callers outside the U.S. can dial (201) 689-8565. A replay of the call will be available

4



until November 8, 2018 by dialing (877) 481-4010 or (919) 882-2331; please reference replay ID number 23769. The call will also be archived on the Company’s website.

FORWARD-LOOKING STATEMENTS

Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements, in particular, the outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors.

These factors include, in addition to those mentioned elsewhere herein:

Actual net sales, operating rates, and margins for 2018;

The global economy, including the impact of tariffs as well as other governmental actions;

The impact of any U.S. Federal Government shutdowns and sequestrations;

The condition of the markets which we serve, whether defined geographically or by segment, with the major market segments being: consumer electronics, industrial components, medical, automotive electronics, defense, telecommunications infrastructure, energy, commercial aerospace, and science;

Changes in product mix and the financial condition of customers;

Our success in developing and introducing new products and new product ramp-up rates;

Our success in passing through the costs of raw materials to customers or otherwise mitigating fluctuating prices for those materials, including the impact of fluctuating prices on inventory values;

Our success in identifying acquisition candidates and in acquiring and integrating such businesses, including our ability to effectively integrate the HTB acquisition;


5



The impact of the results of acquisitions on our ability to fully achieve the strategic and financial objectives related to these acquisitions;

Our success in implementing our strategic plans and the timely and successful completion and start-up of any capital projects;

Other financial and economic factors, including the cost and availability of raw materials (both base and precious metals), physical inventory valuations, metal financing fees, tax rates, exchange rates, interest rates, pension costs and required cash contributions and other employee benefit costs, energy costs, regulatory compliance costs, the cost and availability of insurance, credit availability, and the impact of the Company’s stock price on the cost of incentive compensation plans;

The uncertainties related to the impact of war, terrorist activities, and acts of God;

Changes in government regulatory requirements and the enactment of new legislation that impacts our obligations and operations;

The conclusion of pending litigation matters in accordance with our expectation that there will be no material adverse effects; and

The risk factors as set forth in Item 1A of our Form 10-K for the year ended December 31, 2017.
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.

Investor Contact:                        Media Contact:    
Stephen F. Shamrock                    John G. McCloskey        
(216) 383-4010                        (216) 383-6835 stephen.shamrock@materion.com            john.mccloskey@materion.com https://materion.com
Mayfield Hts-g

6



Attachment 1
Materion Corporation and Subsidiaries
Consolidated Statements of Income
(Unaudited)

 
Third Quarter Ended
 
Nine Months Ended
(In thousands except per share amounts)
Sept. 28, 2018
 
Sept. 29, 2017
 
Sept. 28, 2018
 
Sept. 29, 2017
Net sales
$
297,193

 
$
294,268

 
$
909,745

 
$
830,779

Cost of sales
232,258

 
238,821

 
724,692

 
677,398

Gross margin
64,935

 
55,447

 
185,053

 
153,381

Selling, general, and administrative expense
38,872

 
36,253

 
115,807

 
107,702

Research and development expense
4,250

 
3,429

 
11,753

 
10,103

Other — net
3,147

 
3,801

 
10,384

 
9,823

Operating profit
18,666

 
11,964

 
47,109

 
25,753

Interest expense — net
613

 
533

 
2,010

 
1,721

Other non-operating expense—net
800

 
406

 
1,679

 
1,041

Income before income taxes
17,253

 
11,025

 
43,420

 
22,991

Income tax (benefit) expense
(2,713
)
 
1,705

 
1,746

 
3,308

Net income
$
19,966

 
$
9,320

 
$
41,674

 
$
19,683

Basic earnings per share:
 
 
 
 
 
 
 
Net income per share of common stock
$
0.99

 
$
0.47

 
$
2.06

 
$
0.98

Diluted earnings per share:
 
 
 
 
 
 
 
Net income per share of common stock
$
0.97

 
$
0.46

 
$
2.02

 
$
0.97

Cash dividends per share
$
0.105

 
$
0.100

 
$
0.310

 
$
0.295

Weighted-average number of shares of common stock outstanding:
 
 
 
 
 
 
 
Basic
20,241

 
20,040

 
20,199

 
20,007

Diluted
20,648

 
20,411

 
20,607

 
20,361



























7





Attachment 2
Materion Corporation and Subsidiaries
Consolidated Balance Sheets

 
 
(Unaudited)
 
 
(Thousands)
 
September 28, 2018
 
December 31, 2017
Assets
 
 
 
 
Current assets
 
 
 
 
Cash and cash equivalents
 
$
53,612

 
$
41,844

Accounts receivable
 
133,894

 
124,014

Inventories
 
199,913

 
220,352

Prepaid and other current assets
 
19,894

 
24,733

Total current assets
 
407,313

 
410,943

Deferred income taxes
 
22,311

 
17,047

Property, plant, and equipment
 
896,626

 
891,789

Less allowances for depreciation, depletion, and amortization
 
(642,931
)
 
(636,211
)
Property, plant, and equipment—net
 
253,695

 
255,578

Intangible assets—net
 
7,156

 
9,847

Other assets
 
7,114

 
6,992

Goodwill
 
90,762

 
90,677

Total Assets
 
$
788,351

 
$
791,084

Liabilities and Shareholders’ Equity
 
 
 
 
Current liabilities
 
 
 
 
Short-term debt
 
$
807

 
$
777

Accounts payable
 
42,712

 
49,059

Salaries and wages
 
38,160

 
42,694

Other liabilities and accrued items
 
28,934

 
28,044

Income taxes
 
8,176

 
1,084

Unearned revenue
 
7,805

 
5,451

Total current liabilities
 
126,594

 
127,109

Other long-term liabilities
 
13,828

 
14,895

Capital lease obligations
 
15,864

 
16,072

Retirement and post-employment benefits
 
56,068

 
93,225

Unearned income
 
33,649

 
36,905

Long-term income taxes
 
3,064

 
4,857

Deferred income taxes
 
210

 
213

Long-term debt
 
2,331

 
2,827

Shareholders’ equity
 
536,743

 
494,981

Total Liabilities and Shareholders’ Equity
 
$
788,351

 
$
791,084


    








8






Attachment 3
Materion Corporation and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited)
 
 
Nine Months Ended
(Thousands)
 
Sept. 28, 2018
 
Sept. 29, 2017
Cash flows from operating activities:
 
 
 
 
Net income
 
$
41,674

 
$
19,683

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
Depreciation, depletion, and amortization
 
26,506

 
33,444

Amortization of deferred financing costs in interest expense
 
720

 
670

Non-cash compensation expense
 
8,965

 
7,958

Deferred income tax (benefit) expense
 
(5,341
)
 
1,073

Changes in assets and liabilities net of acquired assets and liabilities:
 
 
 
 
Decrease (increase) in accounts receivable
 
(10,274
)
 
(21,572
)
Decrease (increase) in inventories
 
19,754

 
(9,953
)
Decrease (increase) in prepaid and other current assets
 
4,648

 
(6,077
)
Increase (decrease) in accounts payable and accrued expenses
 
(10,290
)
 
17,991

Increase (decrease) in unearned revenue
 
2,365

 
4,746

Increase (decrease) in interest and taxes payable
 
5,557

 
(2,083
)
Domestic pension plan contributions
 
(38,000
)
 
(8,000
)
Other-net
 
2,959

 
(2,383
)
Net cash provided by operating activities
 
49,243

 
35,497

Cash flows from investing activities:
 
 
 
 
Payments for purchase of property, plant, and equipment
 
(21,809
)
 
(17,759
)
Payments for mine development
 
(5,192
)
 
(620
)
Payments for acquisition
 

 
(16,504
)
Proceeds from sale of property, plant, and equipment
 
26

 
53

Net cash (used in) investing activities
 
(26,975
)
 
(34,830
)
Cash flows from financing activities:
 
 
 
 
Proceeds from issuance of long-term debt
 

 
55,000

Repayment of long-term debt
 
(513
)
 
(55,608
)
Principal payments under capital lease obligations
 
(573
)
 
(644
)
Cash dividends paid
 
(6,262
)
 
(5,903
)
Deferred financing costs
 

 
(300
)
Repurchase of common stock
 

 
(1,086
)
Payments of withholding taxes for stock-based compensation awards
 
(3,006
)
 
(2,397
)
Net cash (used in) financing activities
 
(10,354
)
 
(10,938
)
Effects of exchange rate changes
 
(146
)
 
1,293

Net change in cash and cash equivalents
 
11,768

 
(8,978
)
Cash and cash equivalents at beginning of period
 
41,844

 
31,464

Cash and cash equivalents at end of period
 
$
53,612

 
$
22,486


    


9




Attachment 4
Materion Corporation and Subsidiaries
Reconciliation of Non-GAAP Measure - Value-added Sales
(Unaudited)
 
Third Quarter Ended
 
Nine Months Ended
(Millions)
Sept. 28, 2018
 
Sept. 29, 2017
 
Sept. 28, 2018
 
Sept. 29, 2017
Net Sales
 
 
 
 
 
 
 
 
 
 
 
Performance Alloys and Composites
$
124.1

 
 
$
109.4

 
 
$
372.1

 
 
$
310.5

 
Advanced Materials
144.1

 
 
157.8

 
 
448.0

 
 
429.6

 
Precision Coatings
29.0

 
 
27.1

 
 
89.7

 
 
90.7

 
Other

 
 

 
 

 
 

 
 Total
$
297.2

 
 
$
294.3

 
 
$
909.8

 
 
$
830.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 Less: Pass-through Metal Cost
 
 
 
 
 
 
 
 
 
 
 
Performance Alloys and Composites
$
19.2

 
 
$
18.8

 
 
$
56.8

 
 
$
48.0

 
Advanced Materials
88.8

 
 
97.4

 
 
277.1

 
 
259.9

 
Precision Coatings
6.0

 
 
5.2

 
 
19.7

 
 
22.9

 
Other
1.3

 
 
1.5

 
 
3.1

 
 
3.5

 
 Total
$
115.3

 
 
$
122.9

 
 
$
356.7

 
 
$
334.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 Value-added Sales (non-GAAP)
 
 
 
 
 
 
 
 
 
 
 
Performance Alloys and Composites
$
104.9

 
 
$
90.6

 
 
$
315.3

 
 
$
262.5

 
Advanced Materials
55.3

 
 
60.4

 
 
170.9

 
 
169.7

 
Precision Coatings
23.0

 
 
21.9

 
 
70.0

 
 
67.8

 
Other
(1.3
)
 
 
(1.5
)
 
 
(3.1
)
 
 
(3.5
)
 
 Total
$
181.9

 
 
$
171.4

 
 
$
553.1

 
 
$
496.5

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Margin
 
% of VA
 
 
% of VA
 
 
% of VA
 
 
% of VA
Performance Alloys and Composites
$
35.3

34%
 
$
23.6

26%
 
$
94.2

30%
 
$
62.7

24%
Advanced Materials
20.5

37%
 
24.4

40%
 
62.6

37%
 
66.1

39%
Precision Coatings
9.9

43%
 
7.4

34%
 
29.0

41%
 
24.6

36%
Other
(0.8
)
 
0.1

 
(0.8
)
 

 Total
$
64.9

36%
 
$
55.5

32%
 
$
185.0

33%
 
$
153.4

31%
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit
 
% of VA
 
 
% of VA
 
 
% of VA
 
 
% of VA
Performance Alloys and Composites
$
16.7

16%
 
$
6.8

8%
 
$
38.9

12%
 
$
12.5

5%
Advanced Materials
6.9

12%
 
9.8

16%
 
18.4

11%
 
24.9

15%
Precision Coatings
3.5

15%
 
1.6

7%
 
9.1

13%
 
6.1

9%
Other
(8.4
)
 
(6.2
)
 
(19.3
)
 
(17.7
)
 Total
$
18.7

10%
 
$
12.0

7%
 
$
47.1

9%
 
$
25.8

5%



10



 
Third Quarter Ended
 
Nine Months Ended
(Millions)
Sept. 28, 2018
 
Sept. 29, 2017
 
Sept. 28, 2018
 
Sept. 29, 2017
Special Items
 
 
 
 
 
 
 
 
 
 
 
Performance Alloys and Composites
$

 
 
$
0.2

 
 
$

 
 
$
1.4

 
Advanced Materials

 
 

 
 

 
 
1.3

 
Precision Coatings

 
 
0.4

 
 

 
 
0.4

 
Other

 
 
0.8

 
 
0.7

 
 
4.6

 
 Total
$

 
 
$
1.4

 
 
$
0.7

 
 
$
7.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Profit Excluding Special Items
 
% of VA
 
 
% of VA
 
 
% of VA
 
 
% of VA
Performance Alloys and Composites
$
16.7

16%
 
$
7.0

8%
 
$
38.9

12%
 
$
13.9

5%
Advanced Materials
6.9

12%
 
9.8

16%
 
18.4

11%
 
26.2

15%
Precision Coatings
3.5

15%
 
2.0

9%
 
9.1

13%
 
6.5

10%
Other
(8.4
)
 
(5.4
)
 
(18.6
)
 
(13.1
)
 Total
$
18.7

10%
 
$
13.4

8%
 
$
47.8

9%
 
$
33.5

7%

The cost of gold, silver, platinum, palladium, and copper is passed through to customers and, therefore, the trends and comparisons of net sales are affected by movements in the market price of these metals. Internally, management also reviews net sales on a value-added basis. Value-added sales is a non-GAAP financial measure that deducts the value of the pass-through metals sold from net sales. Value-added sales allows management to assess the impact of differences in net sales between periods or segments and analyze the resulting margins and profitability without the distortion of the movements in pass-through metal prices. The dollar amount of gross margin and operating profit is not affected by the value-added sales calculation. The Company sells other metals and materials that are not considered direct pass throughs, and these costs are not deducted from net sales to calculate value-added sales.

The Company’s pricing policy is to pass the cost of these metals on to customers in order to mitigate the impact of price volatility on the Company’s results from operations. Value-added information is being presented since changes in metal prices may not directly impact profitability. It is the Company’s intent to allow users of the financial statements to review sales with and without the impact of the pass-through metals.


















11



Attachment 5
Materion Corporation and Subsidiaries
Reconciliation of Non-GAAP Measures - Profitability
(Unaudited)

 
Third Quarter Ended
 
Nine Months Ended
(Millions except per share amounts)
September 28, 2018
 
September 29, 2017
 
September 28, 2018
 
September 29, 2017
GAAP as Reported
 
 
 
 
 
 
 
Net Sales
$
297.2

 
$
294.3

 
$
909.8

 
$
830.8

Operating profit
18.7

 
12.0

 
47.1

 
25.8

Net income
20.0

 
9.3

 
41.7

 
19.7

EPS - Diluted
$
0.97

 
$
0.46

 
$
2.02

 
$
0.97

 
 
 
 
 
 
 
 
Operating Profit Special Items
 
 
 
 
 
 
 
Cost reductions
$

 
$
0.6

 
$

 
$
2.0

Legacy legal & environmental costs

 

 
0.7

 
0.2

CEO transition

 
0.8

 

 
3.4

Acquisition costs

 

 

 
2.1

Total operating profit special items
$

 
$
1.4

 
$
0.7

 
$
7.7

Operating Profit Special Items - net of tax
$

 
$
0.9

 
$
0.6

 
$
5.0

Tax Special Item
$
(6.0
)
 
$

 
$
(6.6
)
 
$

 
 
 
 
 
 
 
 
Non-GAAP Measures - Adjusted Profitability
 
 
 
 
 
 
 
Value-added (VA) sales
$
181.9

 
$
171.4

 
$
553.1

 
$
496.5

Operating profit
18.7

 
13.4

 
47.8

 
33.5

Operating profit % of VA
10.3
%
 
7.8
%
 
8.6
%
 
6.7
%
Net income
14.0

 
10.2

 
35.7

 
24.7

EPS - Diluted
$
0.68

 
$
0.50

 
$
1.73

 
$
1.21


In addition to presenting financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP), this earnings release contains financial measures, including operating profit, segment operating profit, net income, and earnings per share, on a non-GAAP basis. As detailed in the above reconciliation and Attachment 4, we have adjusted the results for certain special items such as CEO transition costs, cost reduction initiatives (i.e., asset impairment charges and severance), legacy legal and environmental costs, merger and acquisition costs, and certain income tax items from the applicable GAAP financial measure. Internally, management reviews the results of operations without the impact of these costs in order to assess the profitability from ongoing activities. We are providing this information because we believe it will assist investors in analyzing our financial results and, when viewed in conjunction with the GAAP results, provide a more comprehensive understanding of the factors and trends affecting our operations.








12



Attachment 6
Materion Corporation and Subsidiaries
Value-added sales by Market
(Unaudited)

 
Third Quarter Ended
 
 
 
Nine Months Ended
 
 
(Millions)
Sept. 28, 2018
 
Sept. 29, 2017
 
 % Change
 
Sept. 28, 2018
 
Sept. 29, 2017
 
% Change
Materion Corporation
 
 
 
 
 
 
 
 
 
 
 
Consumer Electronics
$
51.9

 
$
57.0

 
(8.9
)%
 
$
162.8

 
$
157.3

 
3.5
 %
Industrial Components
28.9

 
26.8

 
7.8
 %
 
89.9

 
78.5

 
14.5
 %
Energy
19.4

 
13.3

 
45.9
 %
 
53.1

 
34.6

 
53.5
 %
Defense
18.6

 
12.9

 
44.2
 %
 
52.3

 
36.8

 
42.1
 %
Automotive Electronics
16.3

 
13.8

 
18.1
 %
 
45.8

 
40.3

 
13.6
 %
Medical
14.1

 
11.9

 
18.5
 %
 
43.0

 
43.0

 
 %
Telecom Infrastructure
10.0

 
7.7

 
29.9
 %
 
29.7

 
23.1

 
28.6
 %
Other
22.7

 
28.0

 
(18.9
)%
 
76.5

 
82.9

 
(7.7
)%
    Total
$
181.9

 
$
171.4

 
6.1
 %
 
$
553.1

 
$
496.5

 
11.4
 %
Performance Alloy and Composites
 
 
 
 
 
 
 
 
 
 
 
Consumer Electronics
$
19.2

 
$
20.3

 
(5.4
)%
 
$
60.3

 
$
55.0

 
9.6
 %
Industrial Components
22.6

 
20.5

 
10.2
 %
 
71.3

 
59.1

 
20.6
 %
Energy
9.8

 
5.0

 
96.0
 %
 
24.8

 
13.9

 
78.4
 %
Defense
11.4

 
6.6

 
72.7
 %
 
32.9

 
20.6

 
59.7
 %
Automotive Electronics
15.7

 
13.2

 
18.9
 %
 
44.6

 
39.0

 
14.4
 %
Medical
1.8

 
1.4

 
28.6
 %
 
5.2

 
5.2

 
 %
Telecom Infrastructure
8.8

 
5.9

 
49.2
 %
 
25.4

 
17.6

 
44.3
 %
Other
15.6

 
17.7

 
(11.9
)%
 
50.8

 
52.1

 
(2.5
)%
    Total
$
104.9

 
$
90.6

 
15.8
 %
 
$
315.3

 
$
262.5

 
20.1
 %
Advanced Materials
 
 
 
 
 
 
 
 
 
 
 
Consumer Electronics
$
27.9

 
$
31.6

 
(11.7
)%
 
$
88.4

 
$
89.7

 
(1.4
)%
Industrial Components
3.5

 
3.9

 
(10.3
)%
 
10.4

 
10.7

 
(2.8
)%
Energy
9.6

 
8.3

 
15.7
 %
 
28.3

 
20.7

 
36.7
 %
Defense
1.7

 
1.5

 
13.3
 %
 
4.7

 
4.4

 
6.8
 %
Automotive Electronics

 

 
 %
 

 

 
 %
Medical
3.0

 
2.8

 
7.1
 %
 
8.6

 
8.4

 
2.4
 %
Telecom Infrastructure
1.2

 
1.7

 
(29.4
)%
 
4.2

 
5.5

 
(23.6
)%
Other
8.4

 
10.6

 
(20.8
)%
 
26.3

 
30.3

 
(13.2
)%
    Total
$
55.3

 
$
60.4

 
(8.4
)%
 
$
170.9

 
$
169.7

 
0.7
 %
Precision Coatings
 
 
 
 
 
 
 
 
 
 
 
Consumer Electronics
$
4.7

 
$
5.1

 
(7.8
)%
 
$
14.0

 
$
12.6

 
11.1
 %
Industrial Components
2.9

 
2.3

 
26.1
 %
 
8.3

 
8.7

 
(4.6
)%
Energy

 

 
 %
 

 

 
 %
Defense
5.5

 
4.7

 
17.0
 %
 
14.7

 
11.8

 
24.6
 %
Automotive Electronics
0.5

 
0.5

 
 %
 
1.2

 
1.2

 
 %
Medical
9.2

 
7.7

 
19.5
 %
 
29.2

 
29.4

 
(0.7
)%
Telecom Infrastructure

 

 
 %
 
0.1

 

 
 %
Other
0.2

 
1.6

 
(87.5
)%
 
2.5

 
4.1

 
(39.0
)%
    Total
$
23.0

 
$
21.9

 
5.0
 %
 
$
70.0

 
$
67.8

 
3.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
Eliminations
$
(1.3
)
 
$
(1.5
)
 
 
 
$
(3.1
)
 
$
(3.5
)
 
 
Prior year numbers have been restated to conform to the current year presentation.

13

View differences made from one 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 8-K Corporate News to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Materion Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account