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Wausau Paper Announces Third-Quarter Results

For the first nine months of 2012, adjusted net earnings from continuing operations were $12.3 million, or $0.25 per diluted share, compared with prior-year adjusted net earnings of $13.2 million, or $0.27 per diluted share. Although these comparisons are non-GAAP measures, the Company believes that the presentation of adjusted net earnings from continuing operations provides a useful analysis of ongoing operating trends. Adjusted earnings for the three and nine-month periods are reconciled to GAAP earnings below.

       
3 Months Ended 9 Months Ended
September 30 September 30

2012

   

2011

2012

   

2011

 
GAAP Net (Loss) Earnings Per Share from Continuing Operations $ (0.10 ) $ 0.11 $ (0.03 ) $ 0.20
Capital Related Expenses (1) $ 0.02 $ 0.01 $ 0.07 $ 0.07
Charge for Contract at Former Manufacturing Facility (2) - - $ 0.04 -
Defined Benefit Retirement Plan Settlement Charges $ 0.15 - $ 0.18 -
Gain on Sale of Timberlands - - - $ (0.01 )
Settlement of Income Tax Matters $ (0.01 ) - $ (0.01 ) -

 

 

 

 

Adjusted Net Earnings Per Diluted Share $ 0.06   $ 0.12 $ 0.25   $ 0.27  

Note: Totals may not foot due to rounding differences.

(1) Expenses associated with the rebuild of a paper machine at Brainerd, Minnesota, in 2011, and the Tissue expansion project at Harrodsburg, Kentucky, in 2011 and 2012.

(2) Charge associated with a natural gas transportation contract for a former manufacturing facility in Groveton, New Hampshire.

Including discontinued operations, net of tax, third-quarter net loss was $5.3 million, or $0.11 per share, compared to net earnings of $5.2 million, or $0.10 per diluted share, for the same period last year. Current-quarter and prior-year results included earnings from continuing operations before income taxes offset by income tax expense and a net loss from discontinued operations of $0.2 million, or $0.00 per share.

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