Manchester-based Lydall Inc., which makes specialty engineered products for the thermal/acoustical and filtration/separation markets, said Wednesday its first quarter profits rose 27 percent, propelled by higher sales.
In the period ended March 31, the company’s net income climbed to $11.7 million, or 68 cents a diluted share, compared to $9.2 million, or 54 cents a diluted share, in the year-ago period.
Net sales rose to $165.5 million in the first quarter, compared to $129.7 million in the year-ago period.
CEO Dale G. Barnhart said steady sales growth across all its business segments drove higher profits.
Sales for Lydall’d thermal/acoustical fibers, which help protect vehicle engines from noise and overheating, grew 14.8 percent.
Reversing trends in prior quarters, Lydall’s technical nonwovens segment saw 8.5 percent from higher sales of advanced materials and improved demand from domestic power generation customers, Barnhart said. These materials and products serve a variety of markets addressing air pollution control, liquid filtration, laundry equipment, business machines, home appliances and automotive equipment.
