Second quarter revenue for advanced material and alloy producer Materion fell slightly from a year earlier on weaker sales to the semiconductor and automotive markets.
An increase in sales to the consumer electronic, industrial and energy markets failed to offset a decline in sales to the automotive and semiconductor markets.
Revenue fell by 4pc to $298mn in the second quarter from the same year-earlier period, while profits increased by 39pc to $15.5mn.
Materion's performance alloys and composites segment lifted sales by 4pc to $135mn in the quarter from a year earlier. Increased sales to the consumer electronic markets offset weak sales to the automotive market. Operating profit climbed to $19mn in the second quarter from $12mn a year earlier.
The advanced materials segment sales fell by 13pc to $133mn in the second quarter from a year earlier and operating profit declined by 9pc to $6mn, partially offset by sales to industrial and energy markets. Sales to the semiconductor market dropped 15pc to $101mn.
Sales from precision coating products remained little changed at $29mn. Operating profit for the second quarter totaled $4mn, compared with a profit of $2mn in the year earlier period.
Revenues for the first half of the year decreased to $599mn from $613mn in the year earlier period, while operating profit increased to $44mn from $28mn.
