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Materion Corp (MTRN) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Materion Corp

CIK: 1104657 Ticker: MTRN
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MATERION CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2020 FINANCIAL RESULTS AND PROVIDES FIRST QUARTER 2021 EARNINGS GUIDANCE

MAYFIELD HEIGHTS, Ohio – February 18, 2021 - Materion Corporation (NYSE: MTRN) today reported fourth quarter and full-year 2020 financial results, provided first quarter 2021 earnings guidance, and provided an update on key strategic initiatives.

Fourth Quarter 2020 Highlights

Net sales were $339.7 million compared to $287.2 million in the third quarter; value-added sales increased 14% sequentially to $190.8 million

Net income of $0.39 per share, diluted; adjusted earnings of $0.70 per share (including a $.06 per share increase from the change to FIFO accounting), up for the third consecutive quarter

Advanced several key strategic initiatives including:
Completed full quarter of shipments for the new precision clad engineered strip project
Continued Optics Balzers integration, creating a world leader in precision optics
Completed closure of LAC business; and
Finalized restructuring in PAC to streamline operations and improve cost structure

“Our primary concern throughout the global pandemic has been for the health, safety and well-being of our people, while ensuring the continuity of essential operations to deliver for our customers. We continue to be guided by the recommendations of both national and global healthcare organizations in making important COVID-19 decisions,” said Jugal Vijayvargiya, President and Chief Executive Officer.

Mr. Vijayvargiya continued, “I am very pleased with the team’s performance in the fourth quarter, as we delivered sales and earnings growth for the third consecutive quarter and continued to execute on our key strategic initiatives. The significant precision clad engineered strip growth opportunity remains on schedule. To date, we have received $58.8 million of prepayments from the customer in support of our new manufacturing facility. In addition, we made meaningful progress on a number of other strategic initiatives that are important for our future.”

FOURTH QUARTER 2020 RESULTS

Net sales for the fourth quarter of 2020 were $339.7 million, compared to $280.2 million in the prior year fourth quarter. Fourth quarter value-added sales of $190.8 million were up 14% from the third quarter of 2020. Strong performance in the defense and semiconductor end markets,
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The following information was filed by Materion Corp (MTRN) on Thursday, February 18, 2021 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 Materion Corp's 10-K Annual Report:

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 Benefit Obligation (Details)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Acquisition
Acquisition (Details 1)
Acquisition (Details 2)
Acquisition (Details)
Acquisition (Tables)
Amounts Recognized In Other Comprehensive Income (Before Tax) (Details)
Components Of Net Benefit Costs (Details)
Contingencies And Commitments
Contingencies And Commitments (Details 2)
Contingencies And Commitments (Details Textual)
Contingencies And Commitments (Details)
Contingencies And Commitments (Tables)
Customer Prepayments
Customer Prepayments (Details)
Debt
Debt (Details 1)
Debt (Details Textual 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 2)
Fair Value Information And Derivative Financial Instruments (Details 3)
Fair Value Information And Derivative Financial Instruments (Details Textual)
Fair Value Information And Derivative Financial Instruments (Tables)
Fair Value Information And Derivative Financial Instruments Fair Value Information And Derivative Financial Instruments (Details 4)
Future Estimated Minimum Payments Under Finance Leases And Non-Cancelable Operating Leases (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes Table 1 (Details)
Income Taxes Table 2 (Details)
Income Taxes Table 3 (Details)
Income Taxes Table 4 (Details)
Income Taxes Textuals 1 (Details)
Income Taxes Textuals 2 (Details)
Income Taxes Textuals 3 (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Details 1)
Intangible Assets And Goodwill (Details 2)
Intangible Assets And Goodwill (Details Textual)
Intangible Assets And Goodwill (Tables)
Intangible Assets And Goodwill Goodwill Table (Details)
Interest
Interest (Details Textual)
Interest (Details)
Interest (Tables)
Inventories
Inventories (Details Textual)
Inventories (Details)
Inventories (Tables)
Leasing Arrangements
Leasing Arrangements (Details Text)
Leasing Arrangements (Tables)
Leasing Arrangements Components Of Lease Expense (Details)
Leasing Arrangements Supplemental Balance Sheet Information Related To Leases (Details)
Leasing Arrangements Supplemental Cash Flow Information Related To Leases (Details)
Other-Net
Other-Net (Details)
Other-Net (Tables)
Pensions And Other Post-Employment Benefits
Pensions And Other Post-Employment Benefits (Details Textual)
Pensions And Other Post-Employment Benefits (Details)
Pensions And Other Post-Employment Benefits (Tables)
Pensions And Other Post-Employment Benefits Amounts Recognized In Aoci (Details)
Pensions And Other Post-Employment Benefits Cash Flow (Details)
Pensions And Other Post-Employment Benefits Plan Assets (Details)
Pensions And Other Post-Employment Benefits Weighted Average Assumptions (Details)
Property, Plant, And Equipment
Property, Plant, And Equipment (Details)
Property, Plant, And Equipment (Tables)
Property, Plant, And Equipment Textuals (Details)
Quarterly Data (Unaudited)
Quarterly Data (Unaudited) (Details Textual)
Quarterly Data (Unaudited) (Details)
Quarterly Data (Unaudited) (Tables)
Reconciliation Of The Benefit Obligations And Plan Assets (Details)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Restructuring Textual (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Policies)
Revenue Recognition (Tables)
Revenue Recognition Textuals (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 3)
Segment Reporting And Geographic Information (Details 4)
Segment Reporting And Geographic Information (Details Textual)
Segment Reporting And Geographic Information (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies Accounts Receivable (Details)
Significant Accounting Policies Advertising (Details)
Significant Accounting Policies Inventory (Details)
Significant Accounting Policies Mine Development (Details)
Significant Accounting Policies Organization (Details)
Significant Accounting Policies Property Plant Equipment (Details)
Significant Accounting Policies Unearned Income (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation Details Table Prsus Activity (Details)
Stock-Based Compensation Details Table Rsus Activity (Details)
Stock-Based Compensation Details Table Sars Activity (Details)
Stock-Based Compensation Details Table Sars Fair Value (Details)
Stock-Based Compensation Details Table Sars Status (Details)
Stock-Based Compensation Details Textual (Details)
Stock-Based Compensation Details Textual Ddp (Details)
Stock-Based Compensation Details Textual Ltip (Details)
Stock-Based Compensation Details Textual Rsus (Details)
Stock-Based Compensation Details Textual Rsus Non-Employee Directors (Details)
Stock-Based Compensation Details Textual Sars (Details)
Summary Of Retrospective Application From Lifo To Fifo (Details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Ticker: MTRN
CIK: 1104657
Form Type: 10-K Annual Report
Accession Number: 0001104657-21-000010
Submitted to the SEC: Thu Feb 18 2021 12:10:28 PM EST
Accepted by the SEC: Thu Feb 18 2021
Period: Thursday, December 31, 2020
Industry: Metal Forgings And Stampings

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