Intertape Polymer sales hit by COVID-19

MONTREAL — Intertape Polymer Group reported that its Q2 net income rose by $8.3 million to $14.8 million ($0.25 per share), due in part to lower travel expenses and an adjustment to contingent consideration in its acquisition of Nortech Packaging. Adjusted net earnings fell by $1.4 million to $13.2 million ($0.22 per share) as gross profits declined. Revenue decreased by 9.4 percent to $267.8 million, primarily due to a pandemic-related decline in volume/mix and to lower selling prices.