Yesterday, we reported second quarter net income of $45 million or $0.46 per share, which included after-tax debt refinancing charges of $2.5 million or $0.025 per share. Excluding the refinancing charges, earnings were $48 million or $0.49 per share, which is the second quarter record compared to the second quarter 2011 net income of $40 million or $0.39 per share. Net sales were a record $712 million, up 7% compared to the second quarter of 2011 net sales of $665 million.The $0.10 per share increase in net income, excluding the refinancing charges, was driven by higher containerboard and corrugated products volume of $0.07; and lower costs for energy, $0.05; recycled fiber, $0.02; chemicals, $0.02; and maintenance, $0.02. These items were partially offset by higher costs for transportation of $0.02; medical, $0.02; depreciation, $0.02; and interest expense, $0.02.
Packaging Of America Management Discusses Q2 2012 Results - Earnings Call Transcript
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