Intertape Polymer Group Inc. has released results for the third quarter ended September 30. Third quarter sales increased 14.3% to $187.1 million, compared to $163.7 million for the third quarter of 2009, and were up 3.8% sequentially from $180.3 million for the second quarter of 2010. Sales volume increased by approximately 6% over the third quarter of 2009 and the second quarter of 2010. According to the company, the third quarter is generally its strongest quarter, from a business seasonality perspective. Selling prices for the third quarter increased approximately 5% compared to the third quarter of 2009 and decreased by approximately 2% compared to the second quarter of 2010, primarily due to a less favorable product and channel mix.
“We are pleased with the third quarter increases in our top-line and sales volume,” said Greg Yull, president and CEO. “However, margins were impacted by high input costs and the inability to pass on these increases due to continued competitive industry pressures. In recent weeks, this environment appears to be easing as many industry players have announced price hikes.”
For additional details, visit www.intertapepolymer.com