| 1997 Annual Report FINANCIAL HIGHLIGHTS | |||
| (in thousands except per share amounts) | |||
| P. H. GLATFELTER COMPANY |
|||
| 1997 | 1996 | Change | |
| Net sales | $ 567,072 | $ 566,084 | + 0.2% |
| Income before income taxes | $ 73,577 | $ 97,905 | - 24.8% |
| Net income | $ 45,284 | $ 60,399 | - 25.0% |
| Dividends paid per share | $ .70 | $ .70 | ------- |
| Basic and
diluted earnings per share |
$ 1.07 | $ 1.41 | - 24.1% |
| Shareholders+
equity (net worth) |
$ 340,416 | $ 331,030 | + 2.8% |
| Percent return
on average shareholders' equity |
13.5% | 18.9% | - 28.6% |
| Book value per share | $ 8.08 | $ 7.78 | + 3.9% |
| Number of
shares used in earnings per share computation - basic |
42,220 | 42,718 | - 1.2% |
| Number of
shares used in earnings per share computation - diluted |
42,442 | 42,910 | - 1.1% |
| Depreciation and depletion | $ 35,796 | $ 33,570 | + 6.6% |
| Capital expenditures | $ 57,664 | $ 37,477 | + 53.9% |
A copy of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission will be available without charge (exclusive of exhibits) to interested shareholders by written request to the Treasurer of the Company at Spring Grove, Pennsylvania 17362. Investor relations information is also available from the Treasurer.
Transfer Agent, Dividend
Disbursing Agent and Registrar:
American Stock Transfer & Trust Company
40 Wall Street
New York, NY 10005
(800) 937-5449