KapStone Earnings Rise 54 Percent

摘要

KapStone Paper and Packaging Corp. reports increased earnings of $ 11.1 million for the first quarter ended March 31,2009. "Our financial results for the quarter were strong, benefiting from the sale of our dunnage bag business and our credits earned for the alternative fuel mixture tax incentive," Chairman and CEO Roger Stone says. "The extremely difficult global economic conditions challenged us with the lowest continuing industry operating rates that I have ever experienced. While the industry has done a remarkable job of balancing supply with demand, lower demand is now negatively impacting our prices. We reduced the costs we could control and took advantage of an opportunity to lower our debt and focus on our core business by selling our dunnage bag business at an attractive price."