Lydall Attributes Positive Financial Results to Lean Six Sigma
Posted by: meikah | 5 November 2009 | 9:01 pm
In the recent press release, Lydall announces positive results in their financial standing for the third quarter and nine months ended September 30, 2009.
Dale Barnhart, President and Chief Executive Officer, commented, “While net sales in the current quarter were lower than the third quarter of 2008, we began to see some positive signs in certain of the markets that our businesses serve. In the third quarter of 2009, net sales and gross margin percentage improved in all our segments compared to the second quarter of 2009. Net sales for the Company increased by $8.9 million, or approximately 16%, net of foreign currency translation, in the third quarter of 2009 compared to the second quarter of 2009. As a result of this improved revenue, the Company’s third quarter financial results improved significantly from the second quarter of 2009.
“We are encouraged by the improvement in financial results by our Performance Materials and Thermal/Acoustical segments. Operating income from the Performance Materials segment in the current quarter was $2.9 million, an improvement of $1.8 million from the second quarter of 2009. In our Thermal/Acoustical segment, we were able to record a nominal profit due to higher sales as well as from savings beginning to be realized from the consolidation of our North American automotive facilities and from our Lean Six Sigma program.
“Going into the fourth quarter of 2009, while we have started to show improvement in our financial results, the Company expects global economic uncertainties to continue to affect the markets in which the Company’s businesses operate. The Company will remain focused on opportunities in its markets, managing working capital, cash generation and improving our business operating processes through our Lean Six Sigma program.” Â
Filed under: Lean, Lean Six Sigma, Lydall, Six Sigma, Six Sigma Organizations
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Lydall Saving on Costs Through Lean Six Sigma
Posted by: meikah | 5 May 2009 | 9:27 pm
For the naysayers of Six Sigma, Lydall, Inc. has this to share. Despite the losses, the company is able to cut costs because of Lean Six Sigma. 
Lydall, Inc. announced financial results for the first quarter ended March 31, 2009 with a decreased net sales by $32.4 million in the first quarter of 2009 compared with the first quarter of 2008..
Our Lean Six Sigma program continues to generate productivity gains and remove costs from the organization. We expect Lean Six Sigma will also assist the Company in reducing its working capital, particularly our inventory levels, resulting in improved cash generation as we moveforward in 2009.
Dale Barnhart, President and Chief Executive Officer, says, “We continued cost reductions in the first quarter of 2009, including a further reduction in our global workforce by approximately 7.5%, primarily from headcount reductions at the Company’s Thermal/Acoustical global automotive operations. We also made the difficult decision to reduce the annual base salaries by 3% of all executive officers and most domestic salaried employees of the Company and its subsidiaries, effective as of March 16, 2009. In addition, the Company’s matching contributions to its sponsored 401(k) plan will be suspended, beginning with the first payroll of May 2009, for all non-union, domestic employees.”
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Filed under: Lean Six Sigma, Lydall, Six Sigma, Six Sigma Organizations
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Lydall Attributes Success to Lean Six Sigma
Posted by: meikah | 17 June 2008 | 12:57 am
Lydall Inc. recently received the coveted Volkswagen Group Award for 2008. The company is 1 of 15 international suppliers to receive such disctinction.
The award recognizes innovative strength and value-added development, and Lydall has the distinction of being the only USA-based company to be honored with this award.
And this is what Dale G. Barnhart, President and Chief Executive Officer of Lydall, Inc., has to say about the award:
“Volkswagen Group works with approximately 26,000 suppliers worldwide. To have been selected as a top supplier is very gratifying and reinforces our commitment to quality and creative solutions. Earning this prestigious award is a result of the dedication of Lydall’s European automotive associates, in particular our Meinerzhagen operation, and the benefits of our lean six sigma programs. Use of lean six sigma tools enables the Meinerzhagen operation to maintain operational excellence and to produce unique solutions exceeding Volkswagen’s demands.”
This should make naysayers think again about the value of lean Six Sigma in an organization.
Related story:
Lean Six Sigma at Lydall, Inc.
Filed under: Awards, Benefits and Savings, Lean Six Sigma, Lydall, Manufacturing
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Lean Six Sigma at Lydall, Inc.
Posted by: meikah | 27 February 2008 | 11:35 pm
Lydall, Inc. is a leading producer of specialty engineered products for demanding thermal/acoustical and filtration/separation markets.
To be able to carry out the company’s strategy, one of which is to be global company known for its excellent service, high quality, and unique technologies, Lydall embarked on its Lean Six Sigma journey. That was in 2005.
A couple of years later, Lydall can already boast of significant benefits and savings brought about by its Lean Six Sigma initiatives.
According to Dale Barnhart, President and Chief Executive Officer:
“We closed the year with a solid fourth quarter as sales and operating income increased significantly when compared to last year’s fourth quarter. For the year, excluding the impact of foreign currency translation, sales increased by 1 percent and operating income by 4 percent, as compared to 2006. Contributing factors were: the strong performance of our air and liquid filtration businesses; continuing improvements by the vital fluids operation; a stable automotive business, despite current market conditions; and the ongoing benefits of our Lean Six Sigma efforts.
I can’t stress enough the importance of the Lean Six Sigma program to Lydall, especially in light of the current economic climate. Since we first began implementing Lean Six Sigma at the beginning of 2005, gross margins as a percent of net sales have increased by 290 basis points and we look forward to continued progress as Lean becomes inherent in the culture of Lydall.”
Source:
CNN Money
