Aug 06, 2009. /Lesprom Network/. Boise Inc. reported net income of $50.9 million or $0.60 per diluted share for second quarter 2009, compared with first quarter 2009 net loss of $0.9 million or ($0.01) per diluted share and second quarter 2008 net loss of $18.1 million or ($0.23) per diluted share, PaperAge reported. EBITDA, excluding special items, was $53.0 million for second quarter 2009, compared with $58.6 million for first quarter 2009 and $40.1 million for second quarter 2008. Net covenant debt(b) was $921.6 million at June 30, 2009, a decline of $27.4 million from $949.0 million at March 31, 2009. Net total debt was $901.7 million at June 30, 2009, a decline of $114.9 million from $1,016.5 million at March 31, 2009. "Our core businesses delivered solid earnings and cash flow during second quarter 2009 as demand for our office papers, label and release papers, and agricultural-based packaging products held up well despite the sluggish economy," said Alexander Toeldte, President and Chief Executive Officer of Boise Inc. "We reduced working capital and ended the quarter with a much strengthened liquidity position. We will continue to focus on controlling costs, balancing production with demand, and generating cash." Headquartered in Boise, Idaho, Boise Inc. manufactures packaging products and papers including corrugated containers, containerboard, label and release and flexible packaging papers, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp. The company has approximately 4,090 employees.