Neenah Paper’s net sales of $230.4 million rose 13% in the fourth quarter of 2015 compared with $203.6 million in the prior year. Growth in 2015 reflected acquired sales, higher net selling prices and increased shipments of Technical Products that more than offset negative impacts from currency translation and lower Fine Paper & Packaging shipments. Adjusted operating income of $24.5 million in 2015 ($20.9 million of GAAP) increased 13% compared with $21.6 million ($17.0 million of GAAP) in the fourth quarter of 2014. Higher income in 2015 resulted from improved manufacturing efficiencies and lower input costs that offset unfavorable impacts from currency translation and higher SG&A.

In the fourth quarter, Technical Products net sales of $108 million increased 11% compared with prior year sales of $97.7 million. Excluding acquired sales and unfavorable currency translation, organic constant currency growth was more than 3%, primarily due to increased shipments of filtration and labels. 

For the full year, consolidated net sales of $887.7 million in 2015 were 6% higher than the prior year due to organic Technical Products volume growth, incremental sales from the FiberMark acquisition and higher average selling prices that combined more than offset unfavorable currency exchange effects of $39 million and lower Fine Paper & Packaging shipments. Excluding acquired FiberMark sales and impacts from currency, consolidated net sales increased $28.4 million, or 3%, from the prior year. 

Full year Technical Products sales increased 6% as 10% growth from heritage businesses were boosted by 6% growth from FiberMark sales and partly offset by a 10% reduction in sales due to currency translation.