- Operating loss of $12.3 million in 2012 compared to operating income of $14.1 million in 2011.
- Net loss before items of $39.0 million in 2012, or $0.74 per diluted share, compared to a net loss before items of $18.1 million, or $0.34 per diluted share in 2011.
- Adjusted EBITDA before pro forma effects of profitability program of $25.3 million in 2012, compared to $47.0 million in 2011. (Note: EBITDA and Adjusted EBITDA are non-GAAP financial measures and are defined and reconciled to net income later in this release).
- Refinancing transactions push back approximately $840 million of 2012-2016 maturities to 2017 and 2019, capture significant debt discount and enhance financial flexibility. Less than 7% of Verso’s debt now matures before 2016.
Verso Paper Corp. (NYSE: VRS) today reported financial results for the first quarter of 2012. Results for the quarters ended March 31, 2012 and 2011 include: