Appvion income drops
APPLETON — Appvion recorded first-quarter operating income of $6.6 million compared with operating income of $9.6 million for first quarter 2016.
A reduction in prices and shipment volumes for the company’s paper products, primarily caused by the ongoing strength of the U.S. dollar against other major currencies, caused an $11.7 million decline compared with first quarter 2016. Those negatives results were partially offset by improvements in manufacturing costs and lower selling, general and administrative and related costs that produced an $8.7 million increase over 2016.
Appvion’s first quarter 2017 net sales of $166.7 million were $13.8 million lower than first quarter 2016. Thermal papers net sales were $95 million, a decline of $6.9 million compared with first quarter 2016. Carbonless papers net sales of $71.7 million were $6.9 million lower compared with first quarter 2016.
Appvion operates a manufacturing facility in Roaring Spring.
Carnegie Inn & Spa recognized
The Carnegie Inn & Spa has again been awarded the AAA Four Diamond Lodging designation. Only 5.9 percent of the nearly 28,000 hotels reviewed have been awarded the AAA Four Diamond status for 2017.
For 81 years, AAA has used professional inspectors to conduct property inspections. The company’s team of inspectors assesses each of the eligible properties based on comfort, cleanliness, security and available services and amenities.
The Carnegie Inn & Spa is operated by Hospitality Asset Management Co. Inc.