Lydall, Inc. (NYSE:LDL) announced financial results for the third quarter and nine months ended September 30, 2010.
Net sales for the third quarter ended September 30, 2010 were $83.8 million compared with $66.1 million for the same period in 2009. Excluding the negative impact of foreign currency translation, net sales increased by $20.7 million, or 31.3%, in the third quarter of 2010 compared with the third quarter of 2009.
Lydall Inc.'s (LDL) strong sales of automotive filters and thermal insulation helped the Manchester manufacturer restore its third-quarter profit.
Lydall (LDL) earned $1.5 million, or 9 cents a share, in the three months ended Sept. 30. That compares to a loss of $500,000, or 3 cents a share, the same period in 2009.
Excluding the negative impact of foreign currency translation, Lydall (LDL) said its third-quarter net sales grew 31 percent to $83.8 million from $66.1 million a year ago.
Lydall, Inc. (LDL) is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut. Lydall Inc. has a market cap of $135.3 million; its shares were traded at around $8.08 with and P/S ratio of 0.5. LDL is in the portfolios of Arnold Van Den Berg of Century Management, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
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Disclosure: "No Positions"