Year-to-date pro forma net income was $26 million, compared to $58 million or the prior year period.
“Our 2Q results were in line with expectations. Based on our performance to date and the progress we have made on our cost-savings initiatives, we are confident we will achieve results in the upper half of our full year pro forma EBITDA guidance,” said Paul Boynton, Chairman, President and CEO.
Sales for the quarter were $221 million, 4% above 2Q 2014.
Sales for the six months ended 2015 were $442 million, 3% below the prior year period.
As expected, cellulose specialties prices were down 8% from the prior year periods reflecting the results of the 2015 price negotiations. Cellulose specialties sales volumes for the three and six months ended 2015 were slightly lower than prior year periods, while commodity product sales volumes increased significantly reflecting improved production efficiencies and more operating days in 2015.
Rayonier Advanced Materials is the leading global supplier of high-purity, cellulose specialties natural polymers for the chemical industry.
