Nov 07, 2011. /Lesprom Network/. Verso Paper Corp. reported financial results for the 3Q and nine months ended September 30, 2011. Operating income increased 136% to $30.6 million in the 3Q 2011 from $12.9 million in the 3Q 2010. Net sales were $456.8 million in the 3Q 2011 compared to $432.9 million in the 3Q 2010, as the company said in a press release received by Lesprom Network. Adjusted EBITDA before pro forma effects of profitability program was $64.2 million in the 3Q 2011, compared to $46.0 million in the 3Q 2010. Net income before items was $0.8 million in the 3Q 2011, compared to a net loss before items of $18.6 million in the 3Q 2010. Verso’s net sales for the 3Q 2011 increased $23.9 million, or 5.5%, compared to the 3Q 2010, reflecting an 8% increase in the average sales price for all of products while sales volume decreased 2.3% compared to last year’s 3Q. Verso’s gross margin was 17.8% for the 3Q 2011 compared to 14.1% for the same period in 2010. "Our 3Q results improved significantly from the 3Q 2010. In spite of some demand challenges with specific product categories and the cost pressures of raw materials, Verso recognized a solid quarter. Pricing improved significantly as compared to the prior-year period and slightly on a sequential quarter basis. Our operations, as we projected in our second quarter earnings call, continued to improve in the area of material usage,” said Mike Jackson, President and CEO of Verso. Verso reported a net loss of $0.3 million in the 3Q 2011, which included $1.1 million of charges from special items. Verso reported a net loss of $69.2 million for the first nine months of 2011, which included $31.3 million of charges from special items, primarily due to $26.1 million in pre-tax net losses related to debt refinancing in the 1Q 2011. Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and specialty products.