Glatfelter (GLT) today reported
2012 full year adjusted earnings per diluted share of $1.25 (GAAP $1.36)
compared with $1.01 per diluted share in 2011 (GAAP $0.93). For the 2012 fourth
quarter Glatfelter reported adjusted earnings of $11.2 million, or $0.26 per diluted
share, compared with $14.2 million, or $0.32 per diluted share, in the 2011
fourth quarter. On a GAAP basis, fourth quarter 2012 net income totaled $7.0
million, or $0.16 per diluted share, compared with $9.7 million, or $0.22 per
diluted share, in the fourth quarter of 2011. The fourth quarter 2012 results
were adversely impacted by costs related to strategic initiatives and a trial
in December for the Fox River matter, a higher tax rate, and the impact of
weaker economic conditions in Europe, each in nearly equal proportions.
