Materion Q2 Profit Rises; But Lowers FY13 EPS View - Quick Facts

(RTTNews) - Materion Corp. (MTRN) reported that net income for the second quarter was $8.9 million or $0.43 per share, compared to net income of $7.9 million or $0.38 per share in the second quarter of the prior year.

Sales for the second quarter were $306.1 million compared to sales of $325.1 million for the second quarter of 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share and revenues of $323.65 million for the quarter. Analysts' estimates typically exclude special items.

The company said that macroeconomic conditions are mixed and global growth rates for the second half of the year appear to be below those originally anticipated. Therefore, the company lowered its 2013 earnings guidance to $1.65 to $1.85 per share from previous estimate of $1.75 - $2.00 per share. Analysts expect the company to report earnings of $1.85 per share for fiscal 2013.