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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, sales for the third quarter ended Sept. 30, 2010, were $642.8 million, an increase of 16 percent compared to third quarter 2009. Profit for the manufacturer of containerboard and corrugated packaging products increased 28 percent to $93.3 million.
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For the first nine months, sales were $1.81 billion, an increase of 12 percent over the same period a year ago. Profit fell 27 percent to $150.5 million.
"We had an outstanding quarter in all aspects of our operations setting all-time quarterly records for sales, production and earnings," CEO Mark W. Kowlzan said. "Looking ahead, we expect seasonally lower volumes in the fourth quarter related, in part, to three less corrugated products shipping days. Wood costs and energy costs are expected to be higher with colder weather, and recycled costs have begun to trend up and are expected to be higher in the fourth quarter."
PCA operates four paper mills and 67 corrugated products plants in 26 states.