Record sales push Lydall’s 1Q to black

Lydall Inc. said record sales restored the Manchester woven-products manufacturer’s first quarter to the black.

Lydall earned $2.9 million, or 17 cents a share, in the first three months of this year. The same period a year ago the maker of automotive air and fluid filters, thermal/acoustical insulation and biomedical containers lost $471,000, or 3 cents a share.

First-quarter sales rose 43 percent to a record $108.1 million vs. $75.6 million a year ago.

CEO Dale Barnhart said Monday the company has about $50 million in cash and available credit to finance its strategic initiatives, which include acquisitions. He did not elaborate.