Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported third-quarter sales of $671 million, up 4.4 percent compared to third quarter of 2010. Profit was $42 million, compared to year-ago profit of $93.3 million.
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For the first nine months, sales were $2.0 billion, up 11 percent in a year-over-year comparison. Profit fell 21 percent to $119 million.
Corrugated products shipments were up 6.6 percent, including 1.4 percent from acquisitions, and outside sales of containerboard were equal to last years third quarter. Containerboard production was 650,000 tons, up 4,000 tons over the third quarter of 2010. Containerboard inventories at the end of September were 22,000 tons below 2010 year-end levels.
PCA is a manufacturer of containerboard and corrugated packaging products.
