Manchester manufacturer Lydall said its early 2014 acquisition of a United Kingdom industrial-filtration business helped boost its fourth-quarter profits by 39 percent.
Lydall recorded $5.7 million in profits, or 34 cents per diluted share, compared to $4.1 million, or 25 cents, in the final quarter of 2013.
Net sales were up nearly $28 million, at $127.6 million. The company’s new industrial-filtration segment added $29 million in new revenue, while its performance materials and thermal/acoustical metals segments saw sales fall by a combined $2.1 million.
Industrial filtration was also the driving factor behind an increase in Lydall’s net income for 2014.
Profits were $21.8 million, or $1.28 per share, up from $19.2 million, or $1.14 per share.
Net sales grew by nearly $138 million, to $535.8 million. Industrial filtration accounted for more than $112 million of that growth.
