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FINANCIAL HIGHLIGHTS - Q1 2021
Net sales of $227.1 million, up 13.3% compared to prior year on strong demand across all three segments; up 10.8% organically
Gross margin and adjusted gross margin of 21.4%, up 220 bps
Net income of $5.1 million or $0.28 per diluted share compared to loss per share of ($3.25) in Q1-2020; Adjusted earnings per diluted share of $0.35 compared to adjusted earnings per diluted share of $0.20
EBITDA of $22.7 million or 10.0% of sales; Adjusted EBITDA up 22.0% to $24.4 million, or 10.7% of sales
Total debt net of cash of $172.3 million, compared to $200.3 million at March 31, 2020; net debt leverage ratio of 2.4x Reconciliations of the Non-GAAP financial measures to Lydall s GAAP financial results are included at the end of this release. See also Use of Non-GAAP Financial Measures below.