Polypore Beats Q4 Estimates, Stock Unmoved After Hours
Polypore International (NYSE: PPO) appears stagnant in after hours trading.
The company reported a Q4 EPS of $0.39, which was $0.10 higher than the Street estimate of $0.29.
Earnings per share were down nine percent from the year-ago period.
Revenue came in at $169.4 million versus the Street estimate of $163.57 million.
Sales were down six percent year-over-year.
"We are pleased with the continued solid performance in the Transportation and Industrial and Separations Media segments, and with two meaningful accomplishments in the Electronics and EDVs segment: our technology agreement with Sumitomo Chemical Co., Ltd. ("Sumitomo") and our more recent long-term supply agreement with Samsung SDI Co., Ltd. ("Samsung"), a global leader in EDV and Energy Storage Systems ("ESS") batteries," Robert B. Toth, President and Chief Executive Officer, said in a company release.
"Our technology agreement with Sumitomo confirms the value of our intellectual property position regarding ceramic coatings, and the supply agreement with Samsung underscores the value of our capacity investments and proven industry-leading products and technology."
Polypore closed at $29.63, down 1.27 percent today. The company has struggled over the past few weeks, falling more than 21 percent year-to-date.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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