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Polypore International – Another year of solid growth

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Polypore International, Inc. (NYSE:PPO) reported its financial results for the fourth quarter and year ended December 31, 2011.

2011 Highlights:

  • Sales increase 24% to $763.1 million
  • Adjusted EBITDA increases 36% to $250.8 million
  • Adjusted EPS increases 71% to $2.34

Fourth Quarter Highlights:


  • Sales increase 13% to $191.0 million
  • Adjusted EBITDA increases 16% to $62.1 million
  • Adjusted EPS increases 35% to $0.58

For the fourth quarter:

  • Sales were $191.0 million, an increase of 13% compared with $169.5 million in the prior-year period. There was no significant effect of foreign currency translation in the quarter.
  • Segment Operating Income was $48.5 million, an increase of 17% compared with $41.5 million in the prior-year period. A table showing the reconciliation of Segment Operating Income to income before income taxes is included in this release.
  • Adjusted Net Income and Adjusted EPS were $27.6 million and $0.58 per diluted share, increases of 39% and 35%, respectively, compared with $19.9 million and $0.43 per diluted share in the prior-year period. Net income was $26.4 million and $0.56 per diluted share, compared with $17.7 million and $0.38 per diluted share in the prior-year period. A table showing the reconciliation of Adjusted Net Income and Adjusted EPS to U.S. GAAP amounts is included in this release.

Robert B. Toth, President and Chief Executive Officer, said: “We experienced another year of solid growth and our substantial capacity investments will continue to ramp up throughout 2012 and into 2013. Given the strong long-term outlook in our businesses, we continue to fund the most significant growth investments in our company’s history.”

For the year ended December 31, 2011:

  • Sales were $763.1 million, an increase of 24% compared with $616.6 million in 2010. Excluding the effect of foreign currency translation, sales increased 22%.
  • Segment Operating Income was $199.4 million, an increase of 46% compared with $136.6 million in the prior year. A table showing the reconciliation of Segment Operating Income to income before income taxes is included in this release.
  • Adjusted Net Income and Adjusted EPS were $110.3 million and $2.34 per diluted share, increases of 76% and 71%, respectively, compared with $62.7 million and $1.37 per diluted share in the prior year. Net income was $105.2 million and $2.23 per diluted share, compared with $63.6 million and $1.39 per diluted share in the prior year. A table showing the reconciliation of Adjusted Net Income and Adjusted EPS to U.S. GAAP amounts is included in this release.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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