Buckeye hopes for better April-June quarter results
26 Jul '07
1 min read
Buckeye Technologies Inc announced that it expects its profitability for the April-June quarter to be in the range of 34-36 cents per share compared to 3 cents per share in the same quarter of the previous year.
Chairman and Chief Executive Officer, John B. Crowe said, “Our fourth quarter net sales were up 3.5% compared to a good period last year. Demand for our specialty wood and cotton products, nonwoven materials and fluff pulp were all strong in the quarter."
"The majority of the earnings improvement is due to a combination of higher prices, better mix and cost reductions. The quarter also benefited from income associated with a water conservation partnership (3 cents per share) and adjustments to our tax valuation allowance relating to state income taxes (6 cents per share).”
Buckeye plans to announce April-June and fiscal 2007 results on August 1, 2007 and has scheduled a conference call at 10:30 a.m. ET, Wednesday, August 8, 2007 to discuss fourth quarter and annual results.
marketing@alchempro.com
