Lydall Inc.’s second quarter sales and profits dipped slightly due to weakened demand for the Manchester manufacturer’s heat-sound insulating materials and automotive fluid filters, plus the negative impact of fluctuating currency valuations.
For three months ended June 30, Lydall netted $6.6 million, or 39 cents a diluted share, down from $7.1, or 42 cents a share, netted the same quarter a year ago.
Second-quarter sales dropped to $97.5 million vs. $98.8 million last year.
President and CEO Dale Barnhart said in a statement that Lydall’s businesses performed well last quarter based on operating margins across its lines that all exceeded 10 percent.
