WAUSAU, WI — Wausau Paper Corporation
said Monday that fourth-quarter sales and earnings were little changed before a $12.7 million credit helped push the company to a 65.5 percent increase in net income, but below analysts'' expectations, according to the Journal Sentinel
The Wausau maker of specialty paper products said net income rose to $15.2 million, or 31 cents a share, from $9.19 million, or 19 cents, a year earlier, the article noted.
Fourth-quarter results included a net credit of $12.7 million, or 26 cents a share, related to conversion of the previously claimed alternative fuel mixture tax credit to the cellulosic biofuel producers tax credit and a charge of $2.4 million, or 5 cents a share, related to a rate adjustment associated with a natural gas transportation contract for a former manufacturing facility in Groveton, New Hampshire, the article stated.
According to the article, excluding the gains and charges, Wausau Paper earned $6.7 million, or 14 cents a share, compared with $6.8 million, or 14 cents, a year ago.