Wausau Paper (NYSE: WPP), Mosinee, WI, reported sales for the first quarter were $249 million, a decrease of 3 percent compared to the same period a year ago. The manufacturer of specialty papers for industrial, commercial and consumer end markets recorded a net loss of $1.4 million for the period, compared to profit of $2.9 million the prior year period.
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\”First-quarter earnings reflect the impact of early-quarter winter storms on away-from-home demand in particular, and by rising input costs which have accelerated more rapidly than anticipated,\” said Thomas J. Howatt, president and CEO.
The Tissue segment’s first-quarter sales declined 4 percent, due primarily to the impact of weather. Segment operating profit was $6.3 million.
The Paper segment reported a first-quarter operating loss of $1.4 million compared with a prior-year operating profit of $2.0 million. Shipments declined 12 percent due largely to the machine rebuild and schedule adjustment while net sales declined 2 percent, reflecting the benefit of increased selling prices and product mix improvement.
