, a manufacturer of containerboards and corrugated products, said its first-quarter earnings fell 28.6%, hurt by higher energy, transportation and labor costs.
The company earned $9 million, or 9 cents a share, in the quarter, compared with $12.6 million, or 12 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 8 cents a share in the most recent quarter.
First-quarter revenue rose 3.8% from a year ago to $507.9 million. Analysts were looking for revenue of $484.4 million.
The company's shipments of corrugated products rose 4.9% from last year. Containerboard production in the quarter was up 2.4% from a year ago.
For the second quarter, the company said it expects to earn 22 cents a share. Analysts were expecting earnings of 24 cents a share.
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