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Materion Corp (MTRN) SEC Filing 10-Q Quarterly report for the period ending Friday, June 26, 2020

Materion Corp

CIK: 1104657 Ticker: MTRN


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NEWS RELEASE

MATERION CORPORATION REPORTS SECOND QUARTER 2020 FINANCIAL RESULTS

MAYFIELD HEIGHTS, Ohio – July 23, 2020 - Materion Corporation (NYSE: MTRN) today reported second quarter 2020 financial results and provided an update on key strategic initiatives.

Net sales were $271.5 million; value-added sales increased 2% sequentially to $161.6 million

Net income was $0.32 per share, diluted; adjusted earnings were $0.49 per share, up 14% vs. the first quarter

Closed Optics Balzers acquisition to create a global industry leader in optical thin film coating solutions

Significant new customer opportunity for precision clad engineered strip product on schedule

“I am very pleased with our team’s performance in the second quarter amid the COVID-19 pandemic, as we delivered sequential growth in both value-added sales and earnings,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “The health and safety of our people remains our utmost priority. We are continuing to follow all recommended guidelines as all our facilities continue to operate in support of essential industries.”

Mr. Vijayvargiya continued, “Our key strategic initiatives remain on schedule. We completed the Optics Balzers acquisition just 6 weeks after signing, and I would like to welcome their talented team to the Materion family. The customer project on precision clad engineered strip product which we announced during our last earnings call continues to progress. To date, we have received $31 million of funding from the customer, and we remain on the schedule previously communicated."





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The following information was filed by Materion Corp (MTRN) on Thursday, July 23, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Materion Corp's 10-Q Quarterly Report:

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Inside this 10-Q Quarterly Report

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Ticker: MTRN
CIK: 1104657
Form Type: 10-Q Quarterly Report
Accession Number: 0001104657-20-000095
Submitted to the SEC: Thu Jul 23 2020 11:13:19 AM EST
Accepted by the SEC: Thu Jul 23 2020
Period: Friday, June 26, 2020
Industry: Metal Forgings And Stampings

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