This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wausau Paper Announces Fourth Quarter And Full-Year 2012 Results

Stocks in this article: WPP

2012 FULL-YEAR AND FOURTH QUARTER RESULTS

Continuing Operations

The following full-year and fourth-quarter discussions include certain comparisons that contain non-GAAP measures. The Company believes that the presentation of certain non-GAAP measures provides a useful analysis of ongoing operating trends. Please refer to the Reconciliation of the Non-GAAP Financial Measures in the appendix.

Full-year 2012 net earnings, excluding special items, were $10.8 million, or $0.22 per share compared with adjusted net earnings of $16.1 million, or $0.33 per diluted share a year ago. On a reported basis, full-year net losses of $0.08 per share compared to prior-year net earnings of $0.72 per diluted share.

Fourth-quarter results, excluding special items, were a net loss of $1.5 million, or $0.03 per share. Prior-year fourth-quarter results, excluding special items, were net earnings of $2.5 million, or $0.05 per diluted share. On a reported basis, fourth-quarter net losses of $0.05 per share compared to net earnings of $0.50 per diluted share a year ago.

Tissue Segment

The Tissue segment finished 2012 strong achieving 4.0 percent shipment growth, measured in cases, for the fourth quarter. Fourth-quarter adjusted operating profit was $10.2 million in 2012 compared to $10.4 million in 2011. In December 2012, the Tissue segment started production on the new tissue machine located in Harrodsburg. As a result of the successful startup and other Tissue expansion related costs, fourth-quarter adjusted operating results included approximately $2.3 million of unabsorbed manufacturing costs. Full-year adjusted operating profit in 2012 of $41.3 million, compared with $33.6 million last year, with Tissue’s full-year adjusted EBITDA margin at 20.1 percent compared to 18.9 percent in the prior year.

For 2012, net sales increased 2.2 percent, as the volume of cases shipped grew 3.3 percent over the prior year and exceeded 16 million cases for the first time. By way of comparison, market demand for away-from-home towel and tissue products increased approximately 1.3 percent. Case shipments of Tissue’s Green Seal™-certified products were up 8.5 percent as these products now represent 54 percent of total sales compared to 34 percent five years ago. Additionally, strategic value-added product sales in 2012, those related to proprietary dispensing system pull-through, increased 4.8 percent over the prior year and placement of such dispensers grew 8 percent.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs