Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported sales for the fourth quarter 2009 were $532 million, down 2.3% from fourth quarter 2008. Profit nearly doubled to $58.7 million, compared to profit of $30.2 million a year ago.
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Excluding benefits from alternative fuel mixture tax credits and after-tax non-cash charges from asset disposals, profit for the quarter was $16 million.
For full year 2009, sales were $2.15 billion, down 8.9%. Profit was $266 million, compared to $136 million in 2008. Excluding the previously mentioned special items, 2009 profit was $96 million.
PCA manufactures containerboard and corrugated packaging products.