Tredegar Q4 Adj. Profit Declines; Net Sales Up 24.7%

(RTTNews) - Tredegar Corp. (TG) reported fourth quarter net income from ongoing operations, excluding special items, of $6.2 million or $0.18 per share compared to $9.7 million or $0.29 per share, a year ago. EBITDA from ongoing operations was $10.89 million compared to $13.64 million.

Fourth quarter net income from continuing operations was $21.4 million or $0.63 per share compared to $6.5 million or $0.19 per share, last year.

Sales increased to $220.99 million from $192.52 million, prior year. The company said net sales increased by 24.7% to $144.83 million primarily due to an increase in average selling prices to cover significantly higher aluminum raw material costs and higher operating costs, partially offset by lower sales volume. Sales volume decreased by 3.9%, for the quarter.