Wausau Paper posts first-quarter figures
April 28, 2010
MOSINEE, WI — Wausau Paper recently announced its first-quarter figures, which includes a slight increase in net earnings per share versus last year''s first quarter, according to a press release.
Wausau Paper''s tissue segment earned a record first-quarter operating profit of $11.1 million, the release stated.
Net earnings for the three-month period were $2.9 million, up significantly from a net loss of $1.4 million in the year-ago period, the release noted.
According to the release, net sales increased 7 percent to $256 million and shipments rose 9 percent to 168,000 tons.
Thomas J. Howatt, president and chief executive officer (CEO) of Wausau Paper, said: "First-quarter earnings improved from year-ago levels despite a $12 million increase in fiber costs and only modest demand improvement in most market categories. Our results reflect the continued growth of our highly profitable tissue business and benefits associated with the recently completed restructuring of our paper segment. With economic conditions slow to improve and fiber costs nearing record high levels, we remain focused on further penetrating core market categories and containing costs to drive near-term results. At the same time, we are committed to the strategic growth of our businesses to increase long-term profitability and shareholder value."
Click here to read the complete release.