RockTenn CEO, Steve Voorhees, stated, "Our team performed well in the quarter as demonstrated by our adjusted EPS of $0.96 - 16% over last year. Our Corrugated Packaging business performed especially well increasing overall shipments by 10.6%, including daily box shipments which increased by 2.5% compared to last year. These positive trends have continued in January. Our strong free cash flow and balance sheet continue to provide us the flexibility to implement our strategy."
Net sales of $2,514 million for the 1Q of fiscal 2015 increased $152 million compared to the 1Q of fiscal 2014 primarily as a result of sales from the Tacoma Mill and display acquisitions completed in fiscal 2014 and higher corrugated and folding carton volumes.
Segment income of $244 million increased $9 million compared to the prior year quarter. In the 1Q of fiscal 2015, the increase in segment income was primarily due to the achievement of an estimated $31 million in productivity improvements and income from the Tacoma Mill acquisition which were partially offset by increased commodity and other costs across our business.
RockTenn is one of North America's leading providers of packaging solutions and manufacturers of containerboard and paperboard.
