Materion: 2Q Earnings Snapshot
MAYFIELD HEIGHTS, Ohio (AP) _ Materion Corp. (MTRN) on Thursday reported second-quarter earnings of $15.5 million.
The Mayfield Heights, Ohio-based company said it had net income of 75 cents per share. Earnings, adjusted for non-recurring costs, came to 88 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The supplier of engineered materials to technology companies posted revenue of $297.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $311.9 million.
Materion expects full-year earnings in the range of $3.10 to $3.25 per share.
Materion shares have increased 41% since the beginning of the year. The stock has climbed 10% in the last 12 months.