Buckeye Nonwovens shipments strong with net sales up
23 Oct '07
1 min read
Buckeye Technologies Inc announced earnings for the July-September quarter of 34 cents per share compared to 10 cents per share in the same period last year.
These results include a $2.2 million (6 cents per share) one-time favorable tax benefit related to the recently enacted reduction in Germany's corporate tax rate.
Chairman and Chief Executive Officer John B. Crowe said, “As I said in our performance update last week, first quarter net sales were up 3% compared to the same period last year. The earnings improvement is a combination of higher prices, better mix and cost control.
Nonwovens shipments were especially strong with net sales up 10% compared to the same period last year. Strong cash flow enabled us to reduce debt by $26 million during the just completed quarter. Demand for our specialty wood and cotton products, nonwoven materials and fluff pulp continues to be strong.”
Buckeye has scheduled a conference call at 3:00 p.m. EDT, Tuesday, October 23, 2007 to discuss first quarter performance.
marketing@alchempro.com
