8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 25, 2019

MATERION CORPORATION

(Exact name of registrant as specified in its charter)

Ohio 001-15885 34-1919973

(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

6070 Parkland Blvd., Mayfield Hts., Ohio 44124

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (216) 486-4200

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§204.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, no par value MTRN New York Stock Exchange

Item 2.02 Results of Operations and Financial Condition.

On July 25, 2019, Materion Corporation issued a press release announcing its results for the second quarter of 2019. The press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibits.

Exhibit Number	Description of Exhibit
99.1	Materion Corporation press release, dated July 25, 2019
101.INS	The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Materion Corporation
July 25, 2019	By:	/s/ Stephen Shamrock
		Stephen Shamrock
		Vice President, Corporate Controller and Investor Relations

Exhibit Index

Exhibit No.	Description
99.1	Materion Corporation press release, dated July 25, 2019

EX-99.1

NEWS RELEASE

MATERION CORPORATION REPORTS RECORD SECOND QUARTER 2019 FINANCIAL RESULTS AND RAISES FULL-YEAR 2019 EARNINGS GUIDANCE

MAYFIELD HEIGHTS, Ohio - July 25, 2019 - Materion Corporation (NYSE:MTRN) today reported second quarter 2019 financial results and raised full-year 2019 earnings guidance.

Second Quarter 2019 Results

Net sales were $297.8 million; value-added sales increased 3% to a record of $194.9 million

Operating profit increased 50% compared to prior year to a record $22.8 million, or 12% of value-added sales, the tenth consecutive quarterly year-over-year increase

Diluted earnings per share were $0.75; Adjusted earnings per share were a record of $0.88, up 63% year-over-year

Earnings Guidance

The Company is raising its full-year 2019 adjusted earnings guidance to $3.10 to $3.25 per share, diluted; a 33% increase over prior-year earnings

“I am very pleased with our team’s performance, as we continue to execute on our multi-pillar strategy. We delivered record value-added sales and operating profit in the second quarter and reached a milestone of ten consecutive quarters of year-over-year value-added sales and profit

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growth,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “Based on our strong first half performance and updated outlook, we are increasing full-year 2019 adjusted earnings guidance range approximately 10% above previous guidance.”

SECOND QUARTER 2019 RESULTS

Net sales for the second quarter of 2019 were $297.8 million, compared to $309.1 million in the prior year. Value-added sales of $194.9 million were a record for any quarter, up 3% from the prior year. Strong commercial execution, particularly in the energy, industrial, and consumer electronics end markets, drove the value-added sales growth and more than offset weakness in the automotive and semiconductor end markets.

Operating profit for the second quarter was $22.8 million, or 12% of value-added sales, a 50% increase compared to $15.2 million in the prior year. Operating profit reached the highest level for any quarter and marks the fourth consecutive quarter with double-digit profit margins. A combination of favorable sales mix, improved operational performance, and savings from cost reduction actions drove the record results.

Second quarter 2019 net income was $15.5 million, or $0.75 per share, diluted, including a non-cash, non-operating pension curtailment charge of $3.3 million related to freezing defined benefits for active U.S. domestic pension plan participants. Excluding the pension curtailment charge, adjusted net income was $18.1 million, or $0.88 per share, a record for any quarter.

OUTLOOK

The Company has delivered ten consecutive quarters of year-over-year value-added sales and adjusted operating profit growth. With our differentiated product portfolio, end market diversification, and multi-pillar strategy, we remain committed to achieving year-over-year growth, despite continued softness in select end markets and global economic uncertainty. Based on our first half performance and outlook, we are raising full-year 2019 adjusted earnings guidance approximately 10% from $2.80 to $3.00 per share, diluted, to $3.10 to $3.25 per share. The midpoint of the revised guidance represents a 33% increase from the prior year.

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ADJUSTED EARNINGS GUIDANCE

It is not possible for the Company to identify the amount or significance of future adjustments associated with potential insurance and litigation claims, legacy environmental costs, acquisition and integration costs, certain income tax items, or other non-routine costs that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance for the full year to a comparable GAAP range. However, items excluded from the Company's adjusted earnings guidance include the historical adjustments noted in Attachments 4 and 5 to this press release.

CONFERENCE CALL

Materion Corporation will host an investor conference call with analysts at 9:00 a.m. Eastern Time, July 25, 2019. The conference call will be available via webcast through the Company’s website at www.materion.comor through www.InvestorCalendar.com.By phone, please dial (877) 407-0778. Callers outside the U.S. can dial (201) 689-8565. A replay of the call will be available until August 8, 2019 by dialing (877) 481-4010 or (919) 882-2331; please reference replay ID number 41630. The call will also be archived on the Company’s website.

FORWARD-LOOKING STATEMENTS

Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements, in particular, the outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors.

These factors include, in addition to those mentioned elsewhere herein:

• Actual net sales, operating rates, and margins for 2019;

• The global economy, including the impact of tariffs and trade agreements;

• The impact of any U.S. Federal Government shutdowns and sequestrations;

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• The condition of the markets which we serve, whether defined geographically or by segment, with the major market segments being: semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center.

• Changes in product mix and the financial condition of customers;

• Our success in developing and introducing new products and new product ramp-up rates;

• Our success in passing through the costs of raw materials to customers or otherwise mitigating fluctuating prices for those materials, including the impact of fluctuating prices on inventory values;

• Our success in identifying acquisition candidates and in acquiring and integrating such businesses;

• The impact of the results of acquisitions on our ability to fully achieve the strategic and financial objectives related to these acquisitions;

• Our success in implementing our strategic plans and the timely and successful completion and start-up of any capital projects;

• Other financial and economic factors, including the cost and availability of raw materials (both base and precious metals), physical inventory valuations, metal financing fees, tax rates, exchange rates, interest rates, pension costs and required cash contributions and other employee benefit costs, energy costs, regulatory compliance costs, the cost and availability of insurance, credit availability, and the impact of the Company’s stock price on the cost of incentive compensation plans;

• The uncertainties related to the impact of war, terrorist activities, and acts of God;

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• Changes in government regulatory requirements and the enactment of new legislation that impacts our obligations and operations;

• The conclusion of pending litigation matters in accordance with our expectation that there will be no material adverse effects; and

• The risk factors as set forth in Item 1A of our 2018 Annual Report on Form 10-K.

Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.

Investor Contact:Media Contact:

Stephen F. ShamrockJohn G. McCloskey

(216) 383-4010(216) 383-6835

stephen.shamrock@materion.comjohn.mccloskey@materion.com

https://materion.com

Mayfield Hts-g

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Attachment 1

Materion Corporation and Subsidiaries

Consolidated Statements of Income

(Unaudited)

	Second Quarter Ended				Six Months Ended
(In thousands except per share amounts)	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
Net sales	$	297,843	$	309,085	$	599,284	$	612,552
Cost of sales	228,249		247,247		460,378		492,434
Gross margin	69,594		61,838		138,906		120,118
Selling, general, and administrative expense	39,891		38,473		79,955		76,935
Research and development expense	4,062		3,860		7,802		7,503
Other — net	2,891		4,313		7,012		7,237
Operating profit	22,750		15,192		44,137		28,443
Interest expense — net	500		667		966		1,397
Other non-operating expense—net	3,112		437		3,357		879
Income before income taxes	19,138		14,088		39,814		26,167
Income tax expense	3,598		2,944		7,368		4,459
Net income	$	15,540	$	11,144	$	32,446	$	21,708
Basic earnings per share:
Net income per share of common stock	$	0.76	$	0.55	$	1.60	$	1.08
Diluted earnings per share:
Net income per share of common stock	$	0.75	$	0.54	$	1.57	$	1.05
Weighted-average number of shares of common stock outstanding:
Basic	20,383		20,221		20,326		20,178
Diluted	20,666		20,593		20,635		20,583

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Attachment 2

Materion Corporation and Subsidiaries

Consolidated Balance Sheets

	(Unaudited)
(Thousands)	June 28, 2019			December 31, 2018
Assets
Current assets
Cash and cash equivalents	$	74,856		$	70,645
Accounts receivable	142,327			130,538
Inventories, net	213,329			214,871
Prepaid and other current assets	23,904			23,299
Total current assets	454,416			439,353
Deferred income taxes	1,052			5,616
Property, plant, and equipment	913,325			898,251
Less allowances for depreciation, depletion, and amortization	(669,861		)	(647,233		)
Property, plant, and equipment—net	243,464			251,018
Operating lease, right-of-use asset	26,788			—
Intangible assets	5,213			6,461
Other assets	15,280			7,236
Goodwill	90,633			90,657
Total Assets	$	836,846		$	800,341
Liabilities and Shareholders’ Equity
Current liabilities
Short-term debt	$	847		$	823
Accounts payable	41,658			49,622
Salaries and wages	36,250			47,501
Other liabilities and accrued items	38,482			33,301
Income taxes	1,971			2,615
Unearned revenue	5,829			5,918
Total current liabilities	125,037			139,780
Other long-term liabilities	11,419			14,764
Operating lease liabilities	21,118			—
Finance lease liabilities	18,325			15,221
Retirement and post-employment benefits	30,663			38,853
Unearned income	30,354			32,563
Long-term income taxes	3,093			2,993
Deferred income taxes	383			195
Long-term debt	1,669			2,066
Shareholders’ equity	594,785			553,906
Total Liabilities and Shareholders’ Equity	$	836,846		$	800,341

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Attachment 3

Materion Corporation and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
(Thousands)	June 28, 2019			June 29, 2018
Cash flows from operating activities:
Net income	$	32,446		$	21,708
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, depletion, and amortization	22,607			18,349
Amortization of deferred financing costs in interest expense	472			514
Stock-based compensation expense (non-cash)	3,541			2,164
Deferred income tax expense	4,578			429
Pension curtailment charge	3,296			—
Changes in assets and liabilities:
Decrease (increase) in accounts receivable	(11,778		)	(12,060		)
Decrease (increase) in inventory	1,306			10,428
Decrease (increase) in prepaid and other current assets	(588		)	4,928
Increase (decrease) in accounts payable and accrued expenses	(18,813		)	(14,189		)
Increase (decrease) in unearned revenue	(88		)	2,132
Increase (decrease) in interest and taxes payable	(1,130		)	2,084
Domestic pension plan contributions	(3,000		)	(13,000		)
Other-net	(2,803		)	5,817
Net cash provided by operating activities	30,046			29,304
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(13,833		)	(17,153		)
Payments for mine development	(1,591		)	(3,425		)
Proceeds from sale of property, plant, and equipment	15			27
Net cash used in investing activities	(15,409		)	(20,551		)
Cash flows from financing activities:
Repayment of long-term debt	(397		)	(383		)
Principal payments under finance lease obligations	(599		)	(425		)
Cash dividends paid	(4,368		)	(4,137		)
Repurchase of common stock	(199		)	—
Payments of withholding taxes for stock-based compensation awards	(4,763		)	(2,765		)
Net cash used in financing activities	(10,326		)	(7,710		)
Effects of exchange rate changes	(100		)	8
Net change in cash and cash equivalents	4,211			1,051
Cash and cash equivalents at beginning of period	70,645			41,844
Cash and cash equivalents at end of period	$	74,856		$	42,895

8

Attachment 4

Materion Corporation and Subsidiaries

Reconciliation of Non-GAAP Measure - Value-added Sales

(Unaudited)

	Second Quarter Ended								Six Months Ended
(Millions)	June 28, 2019				June 29, 2018				June 28, 2019				June 29, 2018
Net Sales
Performance Alloys and Composites	$	135.2			$	129.7			$	262.3			$	248.0
Advanced Materials	133.2				150.4				277.3				303.9
Precision Coatings	29.4				29.0				59.7				60.7
Other	—				—				—				—
Total	$	297.8			$	309.1			$	599.3			$	612.6
Less: Pass-through Metal Cost
Performance Alloys and Composites	$	19.9			$	19.6			$	37.4			$	37.6
Advanced Materials	74.9				93.1				161.5				188.3
Precision Coatings	6.3				5.6				14.1				13.7
Other	1.8				0.9				3.7				1.8
Total	$	102.9			$	119.2			$	216.7			$	241.4
Value-added Sales (non-GAAP)
Performance Alloys and Composites	$	115.3			$	110.1			$	224.9			$	210.4
Advanced Materials	58.3				57.3				115.8				115.6
Precision Coatings	23.1				23.4				45.6				47.0
Other	(1.8		)		(0.9		)		(3.7		)		(1.8		)
Total	$	194.9			$	189.9			$	382.6			$	371.2
Gross Margin				% of VA				% of VA				% of VA				% of VA
Performance Alloys and Composites	$	41.6		36%	$	31.1		28%	$	80.8		36%	$	58.9		28%
Advanced Materials	20.2			35%	21.3			37%	42.2			36%	42.1			36%
Precision Coatings	10.3			45%	9.1			39%	19.7			43%	19.1			41%
Other	(2.5		)	—	0.3			—	(3.8		)	—	—			—
Total	$	69.6		36%	$	61.8		33%	$	138.9		36%	$	120.1		32%
Operating Profit				% of VA				% of VA				% of VA				% of VA
Performance Alloys and Composites	$	19.3		17%	$	12.3		11%	$	38.3		17%	$	22.2		11%
Advanced Materials	6.1			10%	5.6			10%	13.2			11%	11.5			10%
Precision Coatings	3.9			17%	2.2			9%	6.0			13%	5.6			12%
Other	(6.5		)	—	(4.9		)	—	(13.4		)	—	(10.8		)	—
Total	$	22.8		12%	$	15.2		8%	$	44.1		12%	$	28.5		8%

9

	Second Quarter Ended								Six Months Ended
(Millions)	June 28, 2019				June 29, 2018				June 28, 2019				June 29, 2018
Special Items
Performance Alloys and Composites	$	—			$	—			$	—			$	—
Advanced Materials	—				—				—				—
Precision Coatings	—				—				—				—
Other	—				—				—				0.7
Total	$	—			$	—			$	—			$	0.7
Operating Profit Excluding Special Items				% of VA				% of VA				% of VA				% of VA
Performance Alloys and Composites	$	19.3		17%	$	12.3		11%	$	38.3		17%	$	22.2		11%
Advanced Materials	6.1			10%	5.6			10%	13.2			11%	11.5			10%
Precision Coatings	3.9			17%	2.2			9%	6.0			13%	5.6			12%
Other	(6.5		)	—	(4.9		)	—	(13.4		)	—	(10.1		)	—
Total	$	22.8		12%	$	15.2		8%	$	44.1		12%	$	29.2		8%

The cost of gold, silver, platinum, palladium, and copper is passed through to customers and, therefore, the trends and comparisons of net sales are affected by movements in the market price of these metals. Internally, management also reviews net sales on a value-added basis. Value-added sales is a non-GAAP financial measure that deducts the value of the pass-through metals sold from net sales. Value-added sales allows management to assess the impact of differences in net sales between periods or segments and analyze the resulting margins and profitability without the distortion of the movements in pass-through metal prices. The dollar amount of gross margin and operating profit is not affected by the value-added sales calculation. The Company sells other metals and materials that are not considered direct pass throughs, and these costs are not deducted from net sales to calculate value-added sales.

The Company’s pricing policy is to pass the cost of these metals on to customers in order to mitigate the impact of price volatility on the Company’s results from operations. Value-added information is being presented since changes in metal prices may not directly impact profitability. It is the Company’s intent to allow users of the financial statements to review sales with and without the impact of the pass-through metals.

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Attachment 5

Materion Corporation and Subsidiaries

Reconciliation of Non-GAAP Measures - Profitability

(Unaudited)

	Second Quarter Ended						Six Months Ended
(Millions except per share amounts)	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
GAAP as Reported
Net Sales	$	297.8		$	309.1		$	599.3		$	612.6
Operating profit	22.8			15.2			44.1			28.5
Net income	15.5			11.1			32.4			21.7
EPS - Diluted	$	0.75		$	0.54		$	1.57		$	1.05
Operating Profit Special Items
Legacy legal & environmental costs	—			—			—			0.7
Operating Profit Special Items - net of tax	$	—		$	—		$	—		$	0.6
Other Non-Operating Expense Special Items - net of tax	$	2.6		$	—		$	2.6		$	—
Tax Special Item	$	—		$	—		$	—		$	(0.6	)
Non-GAAP Measures - Adjusted Profitability
Value-added (VA) sales	$	194.9		$	189.9		$	382.6		$	371.2
Operating profit	22.8			15.2			44.1			29.2
Operating profit % of VA	11.7		%	8.0		%	11.5		%	7.9		%
Net income	18.1			11.1			35.0			21.7
EPS - Diluted	$	0.88		$	0.54		$	1.70		$	1.05

In addition to presenting financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP), this earnings release contains financial measures, including operating profit, segment operating profit, net income, and earnings per share, on a non-GAAP basis. As detailed in the above reconciliation and Attachment 4, we have adjusted the results for certain special items such as non-cash pension charges, legacy legal and environmental costs, and certain income tax items from the applicable GAAP financial measure. Internally, management reviews the results of operations without the impact of these costs in order to assess the profitability from ongoing activities. We are providing this information because we believe it will assist investors in analyzing our financial results and, when viewed in conjunction with the GAAP results, provide a more comprehensive understanding of the factors and trends affecting our operations.

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Attachment 6

Materion Corporation and Subsidiaries

Value-added sales by Market

(Unaudited)

	Second Quarter Ended								Six Months Ended
(Millions)	June 28, 2019			June 29, 2018			% Change		June 28, 2019			June 29, 2018			% Change
Materion Corporation
Industrial	$	36.4		$	33.7		8.0	%	$	70.0		$	66.8		4.8	%
Semiconductor	35.7			39.0			(8.5	)%	73.1			76.0			(3.8	)%
Aerospace and Defense	29.6			29.5			0.3	%	60.1			51.0			17.8	%
Consumer Electronics	19.2			18.0			6.7	%	33.4			35.6			(6.2	)%
Energy	19.1			15.9			20.1	%	37.4			32.7			14.4	%
Telecom and Data Center	16.1			15.0			7.3	%	31.2			27.6			13.0	%
Automotive	14.8			19.3			(23.3	)%	31.8			38.7			(17.8	)%
Other	24.0			19.5			23.1	%	45.6			42.8			6.5	%
Total	$	194.9		$	189.9		2.6	%	$	382.6		$	371.2		3.1	%
Performance Alloy and Composites
Industrial	$	26.0		$	25.7		1.2	%	$	50.0		$	51.4		(2.7	)%
Semiconductor	1.3			1.3			—	%	3.2			2.4			33.3	%
Aerospace and Defense	24.3			24.1			0.8	%	49.3			40.3			22.3	%
Consumer Electronics	14.7			12.9			14.0	%	25.3			26.1			(3.1	)%
Energy	10.0			8.5			17.6	%	19.9			15.2			30.9	%
Telecom and Data Center	16.0			14.9			7.4	%	31.0			27.4			13.1	%
Automotive	12.7			17.0			(25.3	)%	28.2			34.6			(18.5	)%
Other	10.3			5.7			80.7	%	18.0			13.0			38.5	%
Total	$	115.3		$	110.1		4.7	%	$	224.9		$	210.4		6.9	%
Advanced Materials
Industrial	$	6.6		$	4.8		37.5	%	$	12.1		$	9.5		27.4	%
Semiconductor	34.3			37.3			(8.0	)%	69.7			72.7			(4.1	)%
Aerospace and Defense	0.5			0.4			25.0	%	1.2			1.0			20.0	%
Consumer Electronics	0.1			0.1			—	%	0.2			0.2			—	%
Energy	9.1			7.4			23.0	%	17.6			17.5			0.6	%
Telecom and Data Center	0.1			0.1			—	%	0.2			0.2			—	%
Automotive	1.7			1.8			(5.6	)%	3.0			3.4			(11.8	)%
Other	5.9			5.4			9.3	%	11.8			11.1			6.3	%
Total	$	58.3		$	57.3		1.7	%	$	115.8		$	115.6		0.2	%
Precision Coatings
Industrial	$	3.8		$	3.2		18.8	%	$	8.0		$	5.9		35.6	%
Semiconductor	0.1			0.4			(75.0	)%	0.2			1.0			(80.0	)%
Aerospace and Defense	4.8			5.0			(4.0	)%	9.6			9.6			—	%
Consumer Electronics	4.4			5.0			(12.0	)%	7.9			9.3			(15.1	)%
Energy	—			—			—	%	—			—			—	%
Telecom and Data Center	—			—			—	%	—			—			—	%
Automotive	0.4			0.5			(20.0	)%	0.6			0.7			(14.3	)%
Other	9.6			9.3			3.2	%	19.3			20.5			(5.9	)%
Total	$	23.1		$	23.4		(1.3	)%	$	45.6		$	47.0		(3.0	)%
Eliminations	$	(1.8	)	$	(0.9	)			$	(3.7	)	$	(1.8	)

12

XML

DEI Document		6 Months Ended
	Jul. 25, 2019	Jun. 28, 2019
Document Information [Line Items]
Entity Central Index Key		0001104657
Document Type		8-K
Document Period End Date	Jul. 25, 2019
Entity Registrant Name		MATERION CORPORATION
Entity Incorporation, State or Country Code		OH
Amendment Flag		false
Entity Emerging Growth Company		false
Entity File Number		001-15885
Entity Tax Identification Number		34-1919973
Entity Address, Address Line One		6070 Parkland Blvd.
Entity Address, City or Town		Mayfield Hts.
Entity Address, State or Province		OH
Entity Address, Postal Zip Code		44124
City Area Code		216
Local Phone Number		486-4200
Written Communications		false
Soliciting Material		false
Pre-commencement Tender Offer		false
Pre-commencement Issuer Tender Offer		false
Title of 12(b) Security		Common Stock, no par value
Trading Symbol		MTRN
Security Exchange Name		NYSE