Verso reported a net loss of $73.9 million in the first quarter of 2012, or $1.40 per diluted share, which included $34.9 million of charges from special items, or $0.66 per diluted share, primarily due to debt refinancing and unrealized hedge losses. Verso had a net loss of $44.6 million, or $0.84 per diluted share, in the first quarter of 2011, which included $26.5 million of charges from special items, or $0.50 per diluted share, primarily due to losses associated with debt refinancing.“Our EBITDA results for the first quarter of 2012 are pretty much in line with what we expected. Compared to the first quarter of last year when volumes were exceptionally high, the current quarter was also impacted, primarily in the commercial print area, by sluggishness in advertising spending. Additionally, pulp prices were almost $90 per ton below last year’s levels and, although input prices eased compared to the fourth quarter of 2011, they were significantly higher than last year’s first quarter,” said Mike Jackson, President and Chief Executive Officer of Verso.
Verso Paper Corp. Reports First Quarter 2012 Results
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