RockTenn Reports First Quarter Fiscal 2013 Results

RockTenn (NYSE:RKT) today reported earnings for the quarter ended December 31, 2012 of $1.18 per diluted share and adjusted earnings of $1.35 per diluted share. Adjusted earnings per share increased 14% over the prior year quarter.
       
Three Months Three Months
Ended Ended
December 31, December 31,
      2012     2011
 
Earnings per diluted share $ 1.18 $ 1.06
 
Restructuring and other costs and operating losses and transition costs due to plant closures

0.17

0.12
             
Adjusted earnings per diluted share     $ 1.35     $ 1.18
 

First Quarter Results
  • Net sales of $2,287 million for the first quarter of fiscal 2013 increased $19 million compared to the first quarter of fiscal 2012. Segment income of $209 million increased $16 million or 8% over the prior year quarter.
  • RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures were $0.17 per diluted share after-tax, for the first quarter of fiscal 2013. These costs consisted primarily of $9 million of pre-tax facility closure charges and $7 million of pre-tax integration costs.

Chairman and Chief Executive Officer’s Statement

RockTenn Chairman and Chief Executive Officer James A. Rubright stated, “Our 14% adjusted earnings per share increase over the prior year quarter reflects the progress we’ve made in the operating performance of our Corrugated Packaging segment and higher pricing from the fall 2012 containerboard and box price increases. Corrugated Packaging segment EBITDA margins increased to 15.4% for the quarter.”

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