Clearwater Paper increases 2nd quarter sales 8.5%
SPOKANE (BUSINESS WIRE) -- Clearwater Paper Corporation Thursday reported financial results for the second quarter ending June 30. Clearwater reported net earnings for the second quarter of 2010 of $20.6 million, compared to net earnings of $75.4 million for the second quarter of 2009. "Second quarter revenues were solid for both Consumer Products and Pulp and Paperboard. Strong demand from our customers across our businesses as well as solid operating performance resulted in strong earnings for the quarter," said Gordon Jones, chairman, president and chief executive officer. "To better meet demand in our Consumer Products segment, we broke ground in early July on our converting facility at Shelby, North Carolina. We are pleased with the Shelby site as the home of our expanded papermaking and converting operations." In the Consumer Products segment, operating income for the second quarter of 2010 was $20.8 million, compared with operating income of $32.2 million for the second quarter of 2009. Net sales of $145.4 million for the quarter were 4.3% higher than second quarter 2009 net sales of $139.4 million. In Pulp and Paperboard, for the second quarter of 2010 the segment had operating income of $27.5 million, compared to operating income of $83.3 million for the second quarter of 2009, which included $76.4 million associated with alternative fuel mixture tax credits. Net sales of $217.9 million for the quarter were up 14.9% compared to second quarter 2009 net sales of $189.7 million. Most Popular |
Current Temp
57.0 °F
Overcast
Upload directly from your mobile device. Learn howYouNews
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled.
Click here for a free download of the latest Adobe Flash Player.
Resources and info you need to prepare for the switch to DTV. Stay Connected |
Connect with KLEWNews Poll 090610 |
KLEW-TV, 2626 17th Street,