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Wausau Paper suffers $15.8 million loss

February 10, 2009
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MOSINEE, WI — Wausau Paper reported a $15.8 million loss for fiscal year 2008, significantly higher than the $1.8 million loss in fiscal year 2007, according to TradingMarkets.com.
Fourth-quarter losses totaled $1.8 million, compared to a net loss of $27.6 million in the year-ago quarter, the story stated.
Thomas J. Howatt, president and CEO, said: "Adjusted results were slightly above break-even levels for 2008 as we continued to implement plans to improve the future performance of each of our businesses. We permanently closed unprofitable capacity in our Specialty Products and Printing & Writing businesses while pursuing strategic capital projects aimed at driving long-term shareholder value."
Net sales for the fourth quarter decreased 9 percent to $275.7 million, the story noted.
Fiscal year 2008 net sales decreased 4 percent to $1.19 billion, the story added.
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