Lydall’s net sales increased by $34.4 million, or 18.5%, to $220.8 million, compared to $186.4 million in the second quarter of 2018 primarily from the acquisition of Interface Performance Materials (“Interface”), which increased Performance Materials (“PM”) segment net sales by $32.7 million. Organic sales growth was 2% in the PM segment driven by improved sales of filtration products. The Thermal Acoustical Solutions (“TAS”) segment reported 4.8% organic sales growth primarily from increased parts sales in North America. The Technical Nonwovens (“TNW”) segment reported organic sales growth of 2.6% from improved demand for industrial filtration products, partially offset by lower advanced materials sales.

“As we enter the third quarter, in the Performance Materials segment, we are experiencing favorable conditions in filtration markets and demand consistent with the first half of the year for sealing products,” says Dale G. Barnhart, president and CEO. “In the Thermal Acoustical Solutions segment, demand remains generally steady in the North American market but the segment is expected to be impacted by typical seasonal customer shut-downs, as well as softness in the European automotive market. We expect demand to be steady in the Technical Nonwovens segment. Overall, we continue to focus on margin improvement and cash flow generation.”