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Wausau Paper Corp. (NYSE:WPP) climbed to a profit in the first quarter and beat Wall Street’s expectations in the process. Wausau Paper manufactures, converts, and sells paper and paper products.
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Wausau Paper Corp Earnings Cheat Sheet for the First Quarter
Results: Reported a profit of $9.8 million (20 cents per diluted share) in the quarter. Wausau Paper Corp. had a net loss of $1.4 million or a loss 3 cents per share in the year-earlier quarter.
Revenue: Rose 12.8% to $216.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wausau Paper Corp. reported adjusted net income of 10 cents per share. By that measure, the company beat the mean estimate of 5 cents per share. It beat the average revenue estimate of $209.6 million.
Quoting Management: Commenting on first-quarter results and the Company’s growth initiatives, Henry C. Newell, president and CEO said, “2012 is about growth for Wausau Paper and our first quarter was a solid start with year-over-year volume growth in Tissue of approximately five percent and approximately 14 percent in our technical paper markets. Earnings performance in both segments exceeded expectations due to operational initiatives in Tissue and order strength in our economically sensitive technical markets. On a strategic level, we continued to execute the exit of Print & Color during the quarter and remain on schedule for the fourth-quarter startup of our new Tissue machine.”
The company beat estimates last quarter after being in line with expectations in the fourth quarter of the last fiscal year with net income of 4 cents per share.
The company reported a profit last quarter, following a quarter of being in the red. In the third quarter of the last fiscal year, the company booked a net loss of $5.2 million, or a loss of 10 cents per share.
Looking Forward: The average estimate for the second quarter is steady at 8 cents a share. The average estimate for the fiscal year is 36 cents per share, down from 37 cents ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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